Publish Date:
ICICI Prudential Mutual Fund has launched ICICI Prudential Housing Opportunities Fund.
It is an open ended equity scheme following housing theme.
The Investment Objective of the scheme is to generate long-term capital appreciation by investing in equity and equity related instruments of entities engaged in and/or expected to benefit from the growth in housing theme.
However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.
Under normal circumstances, ICICI Prudential Housing Opportunities Fund will hold an allocation of 80% to 100% of its assets in Equity & Equity related instruments of entities involved in Housing theme, and 0% to 20% of its assets in Other Equity & Equity related instruments. The scheme may also invest 0% to 20% of its assets in Debt instruments, Units of Debt Mutual Fund schemes, Money market instruments and Preference Shares and 0% to 10% in Units issued by REITs and INVITs.
As per the Scheme Information Document, ICICI Prudential Housing Opportunities Fund will invest predominantly in equity & equity related instruments of entities that are engaged in and/or expected to benefit out of the housing theme.
The Scheme may also invest a certain proportion of its corpus in debt, money market securities, units of debt mutual fund schemes/preference shares, units issued by REITs and INVITs in order to meet liquidity requirements from time to time.
The investment universe of the scheme will be basic industries like Power, Cement, Consumer Electronics etc. (that form a part of Nifty Housing Index). The stocks may be at any levels of market capitalization. The Fund Manager would aim to build a portfolio by identifying entities within the list of basic industries under Housing theme that have potential for meaningful growth and which have a certain sustainable competitive advantage.
The Scheme can invest up to 20% in other equities and equity related securities. The Scheme may also invest a part of its corpus in overseas markets in Global Depository Receipts (GDRs), ADRs, foreign equity securities, mutual funds and such other instruments as may be allowed under the Regulations from time to time, including securities issued by companies engaged in Housing theme.
ICICI Prudential Housing Opportunities Fund’s performance will be benchmarked against Nifty Housing Index.
It will be managed by Mr Sankaren Naren, Mr Anand Sharma and Ms Priyanka Khandelwal (for overseas investments).
The NFO opens for subscription on March 28, 2022 and closes on April 08, 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 Re 1 thereafter.
The fund offers Regular Plan and Direct Plan having Growth Option and Payout of Income Distribution cum Capital Withdrawal Option (Re-investment and Pay-out facility).