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ICICI Prudential Mutual Fund Manufacture In India Scheme Unveils

ICICI Prudential Mutual Fund Manufacture in India Scheme will be open for subscription from September 21, 2018, to October 05, 2018. The ICICI Prudential Manufacture in India Fund, an open-ended equity scheme following manufacturing theme, is available for the face value of 10 Rupees per unit.

The investment objective of the new scheme of ICICI Prudential Mutual Fund is to generate long-term capital appreciation by creating a portfolio that is invested predominantly in equity and equity-related securities of companies engaged in manufacturing theme.

The new scheme will invest 80 percent to 100 percent of its assets in equity and equity-related securities of companies engaged in sectors specified in http://www.makeinindia.com/sectors with a high-risk profile.

The plan will also invest up to 20 percent of its asset in other equity and equity-related instruments with medium to high-risk profile, and up to 20 percent of assets in debt instruments, money market securities, and cash & cash equivalents with low to medium risk profile.

ICICI Prudential Mutual Fund Manufacture in India Scheme will invest up to 50 percent of its net assets in derivatives.

The minimum application amount of the ICICI Prudential Manufacture in India Fund is 5000 Rupees and in multiples of one Rupee thereafter. The minimum additional amount for the scheme is 1000 Rupees and in multiples of one Rupee thereafter.

The open-ended equity scheme will offer both Direct and Regular plans with Growth option and Dividend option (Dividend payout and Dividend reinvestment facility).

The performance of the ICICI Prudential Manufacture in India Fund scheme will be benchmarked against S&P BSE 500 Index. The scheme aims to collect a minimum subscription amount of 10 crore Rupees during the NFO period.

Anish Tawakley and Mittul Kalawadia are the fund managers of the scheme. Priyanka Khandelwal will manage the investments under ADR / GDR and other foreign securities, according to KJMC.

Mr. Kalawadia, one of the fund managers of ICICI Prudential Mutual Fund Manufacture in India Scheme, has been associated with ICICI Prudential since 2012. The other fund manager Mr. Tawakley has worked with Barclays India – Equity Research, Credit Suisse India – Equity research – Indian financial services sector, before joining ICICI AMC, according to Value Research.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Bindhu Mol. G loves writing news articles. She excels in SEO articles, technical articles and academic articles. She covers commodities and mutual fund news for OWLT Market.

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