in image illustration of a plant nurturing in form of mutual funds
ICICI Prudential Mutual Fund has established an open equity fund to provide capital appreciation via the use of an in-house market cap algorithm to invest in equity and equity-related assets throughout market capitalism. The new fund proposal will start on 28 June and will expire on 12 July.
The flexicap fund will utilize a mixture of top-down and bottom-up tactics to uncover opportunities in the large, medium, and small-cap markets.
According to the asset management company (AMC), the S&P BSE 500 will be examined by the investing universe, and stock selection will be based on a variety of features, including corporate foundations, valuations, etc.
“Flexi cap is one category (as per SEBI Scheme categorization) 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," a statement was given by Nimesh Shah, MD, and CEO, ICICI Prudential AMC.
Rajat Chandak, a senior fund manager, is in charge of the program, while Priyanka Khandelwal is in charge of the international investments.
It will invest 65-100 percent in large-cap, mid-cap, and small-cap companies' equity and equity-related instruments, 0-35 percent in other equity and equity-related instruments, 0-35 percent in debt instruments, debt mutual fund schemes, and money market instruments, and 0-10 percent in preference shares and units issued by real estate investment trusts (REITs) and infrastructure companies' preference shares and units (InvITs).
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