ICICI Pru MF launches ICICI Prudential Passive Multi-Asset FoF

ICICI Prudential Mutual Fund has launched ICICI Prudential Passive Multi-Asset Fund of Funds. The NFO opens on December 27, 2021, and closes on January 10, 2022.

One of India’s largest asset management companies, ICICI Prudential MF has launched ICICI Prudential Passive Multi-Asset Fund of Funds today. NFO will open today and close on January 10, 2022. It is an open-ended fund of funds scheme investing in equity, debt, gold and global index funds/exchange-traded funds. The proposed asset allocation is domestic equity ETFs/Index Funds will constitute 25 per cent to 65 per cent, Domestic Debt ETFs/Index Funds will have 25 per cent to 65 per cent of the net assets, Gold ETFs between 0-15 per cent and Overseas ETFs and Index Funds will share 10 per cent to 30 per cent.   

The offering aims to provide returns that closely correspond (benchmarked) to the total return of the benchmark CRISIL Hybrid 50+50 - Moderate Index (80 per cent weightage) + S&P Global 1200 Index (15 per cent weightage) + Domestic Gold Price (5 per cent weightage) subject to tracking errors. 

The scheme provides a blend of all asset classes and follows the EDGE (Equity, Debt, Gold and Global Equity ETFs) approach. Passively managed multi-asset fund of funds tries to invest across asset classes capturing the market timing with appropriate weightage to the individual asset class and switching between the asset class that is tax efficient.   

The fund will be managed by Sankaran Naren, Manish Banthia, Ritesh Lunawat, Dharmesh Kakkad, Nishit Patel and Priyanka Khandelwal.