Publish Date:
ICICI Prudential Mutual Fund has Introduced a new scheme – IDFC Transportation And Logistics Fund
It is an open-ended equity scheme investing in transportation and logistics sector.
Accordingly, the objective of the scheme is to generate long term capital appreciation by investing predominantly in equity and equity related securities of companies engaged in transportation and logistics sectors. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.
Under normal circumstances, ICICI Prudential Transportation And Logistics Fund will hold an allocation of 80% to 100% of its assets in Equities & Equity related securities of companies engaged in the transportation and logistics sector, 0% to 20% in Equities & Equity related securities other than above and overseas securities and 0% to 20% in Debt Securities and Money Market Instruments (including Government securities, Securitised debt) and 0% to 10% in Units issued by REITs and INVITs.
As per the Scheme Information Document, ICICI Prudential Transportation And Logistics Fund will invest at least 80% of corpus in securities of companies engaged in the transportation and logistics sector from the basic industry list as provided by AMFI in Industry classification data. This shall comprise of companies that broadly represent the transportation & logistics sector within basic industries like passenger vehicles, commercial vehicles, motorcycles, airlines, shipping, e-commerce companies into delivery business and logistics solution providers etc.
The Scheme may invest up to 20% in securities of companies which are engaged in sector other than transportation and logistics sector and overseas securities. The Scheme will be market cap agnostic and follow a bottom-up stock selection approach. Bottom-up investment approach would focus on analysing individual stocks pertaining to companies which are part of the transportation & logistics sector and would remain agnostic to the sub sectors within each sectors.
ICICI Prudential Transportation And Logistics Fund’s performance will be benchmarked against Nifty Transportation and Logistics Index.
The scheme will be managed by Mr. Harish Bihani and Ms. Sharmila D'mello.
The NFO opens for subscription on October 06, 2022 and closes on October 20, 2022. The schemes will reopen for continuous sale and repurchase within 5 business days from the date of allotment of units.
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.
Both the schemes offer Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.
[Read: ICICI Prudential Transportation And Logistics Fund: Is this Vehicle Worth Boarding?]