ICICI Prudential Mutual Fund has launched ICICI Prudential Passive Multi-Asset Fund of Funds. The fund aims to provide returns that closely correspond to the total return of the benchmark CRISIL Hybrid 50+50- Moderate Index (80% weightage) + S&P Global 1200 Index (15% weightage) + Domestic Gold Price (5% weightage) subject to tracking errors.
S Naren, ED & CIO, ICICI Prudential Mutual Fund, believes over the last decade easy liquidity conditions and rate cuts by global central banks created a conducive environment for equity markets to perform. Now with the withdrawal of stimulus measures, multi-asset philosophy is likely to provide a better outcome in the near term.
The new fund offer opens for subscription on December 27, 2021, and closes on January 10, 2022.
Key highlights of the fund:
- An open-ended fund of funds scheme investing in equity, debt, gold and global index funds/exchange traded funds
- The offering aims to be a simple investment solution providing a blend of various asset classes
- Asset allocation: Domestic Equity ETFs/Index Funds (25%-65%), Domestic Debt ETFs/Index Funds (25%-65%), Gold ETFs (0%-15%) and Overseas ETFs and Index Funds (10%-30%)
- The Scheme is capable to invest in any ETFs/ Index Fund launched by any other mutual fund in India
- Minimum investment required during NFO: Rs 1,000
