(An open-ended dynamic equity scheme investing across large, mid and small cap stocks)
Highlights
- NFO opens June 28, 2021 and closes on July 12, 2021
- Scheme aims to identify and invest in opportunities across market capitalization based on an in-house market cap allocation model
- Investment style followed by the scheme will be a mix of top-down and bottom-up approach
- Minimum application amount (including switches) during NFO is Rs. 5,000/- (plus in multiple of Re. 1)
Mumbai, June 10, 2021: ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Flexicap Fund, an open-ended equity scheme which aims to provide capital appreciation by investing in equity and equity related securities across market capitalization, based on an in-house market cap allocation model.
ICICI Prudential Flexicap Fund aims to follow a mix of top-down and bottom-up approach to identify opportunities in large, mid and small cap space respectively. The investment universe considered will be the S&P BSE 500. The stock selection can be based on multiple parameters such as company fundamentals, valuations, and so on.
Speaking on the launch of the product, Mr. Nimesh Shah, MD & CEO, ICICI Prudential AMC said, “Flexi cap is one category (as per SEBI Scheme categorisation) among the equity schemes which is the most flexible among the equity scheme offerings. The ICICI Prudential Flexicap Fund has the flexibility to invest across large, mid and small cap space without any restriction. We will be guided by our in-house market cap allocation model to provide direction and help ascertain the right allocation to various market caps. Further, based on macroeconomic factors and business cycle, the fund manager may fine tune the allocation suggested by the model which will be in line with the SID at all times. This complete combination of flexibility with control, we believe, will help investors to comfortably navigate across market conditions, and aid investors in reaching their financial goals effectively.”
The Large/Mid/Small cap allocation will be assessed and re-balanced on a periodic basis, based on an in-house model and in line with asset allocation of the Scheme. This model comprises of parameters such as valuation, Relative Strength Index Differential, market cap weight as a percentage of total market cap to name a few. Cues from various economic indicators such as business and economic fundamentals driven by in-depth research techniques, employing strong stock selection, long term growth prospects, inflation, current account deficit/surplus, fiscal deficit etc. too can be considered while building portfolio of companies. The Scheme shall follow the investment strategy as mentioned in the SID.
The idea here is that during volatile times, large caps tend to limit downside and can provide liquidity to the portfolio. On the other hand, with expected economic recovery post the lockdown phase, mid and small caps may be better positioned to capture potential upside in the economic recovery journey.
The scheme is being managed by Senior Fund Manager Rajat Chandak and overseas investments will be managed by Fund Manager Priyanka Khandelwal. ICICI Prudential Mutual Fund has one of India’s largest and experienced investment and research team led by S Naren, who is well known for his calls on macros and market cycles.
The New Fund Offer (NFO) opens on June 28, 2021 and closes on July 12, 2021.
For further information, contact Adil Bakhshi - 9920010203, pr@icicipruamc.com
Riskometer & Disclaimer:
#It may be noted that risk-o-meter specified above is based on the scheme characteristics. The same shall be updated in accordance with provisions of SEBI circular dated October 5, 2020 on Product labelling in mutual fund schemes on ongoing basis.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.