Mumbai: Asset management company ICICI Prudential AMC today launched an equity fund aimed at maximising long-term capital appreciation while investing in banking and financial services firm.
ICICI Prudential Banking and Financial Services Fund is an open-ended equity scheme, a release from the fund house said here.
The bank aims to maximise long-term capital appreciation by investing 70-100% in equity and equity-related securities of companies engaged in banking and financial services and 0-30% in debt instruments.
The new fund offer (NFO) opens today and close on August 7, the release said.
“We believe in providing investors with financial solutions through introducing products that will help add value to their investment portfolio,” ICICI Prudential AMC Managing Director Nimesh Shah said.
ICICI Prudential AMC has an average assets under management of around Rs 59,505.14 crore as on June 30.
It manages a comprehensive range of schemes to meet the varying investment needs of its investors spread over 245 cities in the country.