ICICI Prudential Business Cycle Fund
ICICI Prudential Mutual Fund has launched a new fund offer. The name of the scheme is ICICI Prudential Business Cycle Fund. It has opened for subscription on December 29th, 2020, and closed on 12th January 2021. As of the scheme information document, the fund predominantly invests in Indian markets with a focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles.
Further, the scheme is suitable for investors who seek long-term wealth creation. The offer of units of Rs. 10 each during the NFO period. Moreover, it would continue offering units at net asset value-based prices.
Basic Details of NFO:
|Fund Name||ICICI Prudential Business Cycle Fund|
|NFO Period||Dec 29th, 2020 – Jan 12th, 2021|
|Benchmark||Nifty 500 TRI|
As of the source, the scheme plans to provide long-term capital appreciation by investing with a focus on riding business cycles through allocation between sectors and stocks at different stages of business cycles.
Entry load is not applicable to this scheme. But, 1% of the net asset value is applicable as exit load. Because the amount sought to be redeemed or switched out is invested for a period of one year from the date of allotment.
Minimum Application Amount:
Investors who want to invest in this scheme should invest a minimum of Rs. 5,000 and in multiples of Re. 1/- thereafter. Moreover, the additional purchase amount should stand at Rs. 1,000 plus in multiples of Re. 1/-. However, the scheme is available in the Systematic Investment Plan method.
|Instruments||Indicative allocations (% of total assets)||Risk Profile|
|Equity and equity-related instruments selected on the basis of the business cycle||100||80||High|
|Other equity and equity-related instruments||20||0||Medium to High|
|Debt and money market instruments, including Units of Debt oriented mutual fund schemes||20||0||Low to Medium|
|Preference shares or any other asset as may be permitted by SEBI from time to time||20||0||Medium to High|
|Units issued by REITs and InvITs||10||0||Medium to High|
Moreover, Nifty 500 TRI will play as a benchmark for this scheme.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Please read the offer document carefully and consult your investment adviser before investing.