1 min read.Updated: 20 Dec 2018, 10:27 AM ISTLivemint
ICICI Prudential Mutual Fund hopes to raise ₹1,200-2,000 crore from its India Opportunities Fund, an official said
Kolkata: ICICI Prudential Mutual Fund hopes to raise ₹ 1,200-2,000 crore from its India Opportunities Fund, an official said Wednesday.
“We hope to raise ₹ 1,200-2,000 crore in the NFO (new fund offering) and the fund will try to tap special situations like temporary crisis, change in economic scenario, regulatory changes and global uncertainties," ICICI Pru MF head, product development & strategy, Chintan Haria said.
The issue opens on December 26 and closes on January 9, 2019.
Meanwhile, Haria said that the discontinuation of fresh investments in the monthly dividend option from its largest scheme ICICI Prudential Balanced Advantage Fund from Wednesday will not have any major impact on the fund.
“The dividend income corpus is around just 10 per cent of the fund size but we will continue if investors wish to stay. We are trying to convey to the investors to adopt systematic withdrawal plan," he said.
The fund house manages about ₹ 28,000 crore under the scheme. However, the fund will continue to accept money in the schemes growth option.
The step was taken after a dividend tax of 10 per cent was imposed by government.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.