Publish Date:
ICICI Prudential Mutual Fund has Introduced a new scheme – ICICI Prudential PSU Equity Fund
It is an open-ended equity scheme following the PSU theme
Accordingly, the objective of the scheme is to generate long-term capital appreciation by investing predominantly in equity and equity related securities of Public Sector Undertakings (PSUs). However, there is no assurance or guarantee that the objectives of the scheme will be realized and the scheme does not assure or guarantee any returns.
Under normal circumstances, ICICI Prudential PSU Equity Fund will hold an allocation of 80% to 100% of its assets in Equity & Equity related instruments of Public Sector Undertakings, 0% to 20% in Other Equity & Equity related instruments, 0% to 20% in Debt instruments, Units of Debt Mutual Fund schemes, and Money market instruments and Preference shares and 0% to 10% of its assets in Units issued by REITs and INVITs.
As per the Scheme Information Document, the Scheme is an open ended thematic equity fund which will invest predominantly in equity and equity related securities of the PSU companies. PSU refers to any undertaking where 51% or more of the company is held by the Central Government, State Government, or jointly by the Central Government and one or more State Governments. The Scheme can invest into opportunities available across the market capitalization. The Scheme may invest up to 20% in other equities and equity related securities.
ICICI Prudential PSU Equity Fund’s performance will be benchmarked against S&P BSE PSU TRI
The scheme will be managed by Mr. Mittul Kalawadia and Mr. Anand Sharma.
The NFO opens for subscription on August 23, 2022 and closes on September 06, 2022. The scheme will reopen for continuous sale and repurchase Within 5 Business Days from the date of allotment.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 5,000 and in multiples of any amount thereafter.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.
[Read: ICICI Prudential PSU Equity Fund: Should You Invest in PSU Stocks?]