Business News/ Mutual Funds / News/  ICICI Prudential MF's NFO Innovation Fund subscription last day today. Should you go for it?

ICICI Prudential Innovation Fund is an open-ended thematic equity scheme that will predominantly invest in equity, equity-related securities of companies, and units of global mutual funds/ETFs that can benefit from innovation strategies and themes. The new fund offer or NFO which opened on April 10 will close today, April 24.

Investors can invest under the scheme with a minimum investment of 5000 per plan/option and in multiples of Re 1. There is no upper limit for investment.

The investments under the scheme will be managed by Anish Tawakley and Vaibhav Dusad. Overseas investments in the scheme will be managed by Sharmila D’mello.

The performance of the scheme shall be benchmarked against Nifty 500 TRI.

The scheme will invest a minimum of 80 percent in companies adopting innovation strategies and themes and overseas securities adopting innovation strategies and themes.

"Through this offering, an investor will have access to companies involved in product/service/solution-related innovation both in India and overseas. Given that innovation can happen anywhere, our research team will track sector/theme-specific trends," Chintan Haria, Head - of Investment Strategy at ICICI Prudential AMC said on the launch of the scheme.

ICICI Prudential Innovation Fund

Fund type: Open-ended

Fund class equity scheme: Sectoral/ Thematic

Closes on 24th April

Investment objective: To generate long-term capital appreciation by predominantly investing in equity & equity-related securities of companies and units of global mutual funds/ETFs that can benefit from innovation strategies and themes. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.

Minimum investment: 5000

Baroda BNP Paribas rolled out its floater fund NFO, which will also close today, April 24.





Sangeeta Ojha
A business media enthusiast. Writes on personal finance, banking and real estate.
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Updated: 24 Apr 2023, 07:43 AM IST
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