ICICI Prudential mutual fund launches passive multi asset scheme

ICICI Prudential mutual fund has launched ICICI Prudential passive multi asset fund of funds. The fund will have investments in equity, debt, gold and international passive funds as well as ETFs. The cost of the scheme will be capped at 1%. The NFO opens for subscription on Dec 27 and closes on January 10, 2022.

The offering aims to provide returns that closely correspond to the total return of the benchmark CRISIL hybrid moderate index etc.

S Naren, ED & CIO, ICICI Prudential Mutual fund, believes that over the last decade easy liquidity conditions and rate cuts by global central banks created a conducive ecosystem for equity markets to perform. Now with the withdrawal of stimulus measures, multi asset philosophy will provide better outcomes in the near term.

Chintan Haria, Head Product Development and strategy, ICICI Prudential mutual fund said, “We believe this product is a simple solution for an investor looking for multiple asset allocation through passive route. Apart from allocation to domestic equities, debt and gold, an investor will also have exposure to investing in foreign companies as well through this product, thus bringing in geographical diversification as well”.