An open ended fund-of-funds
scheme, this product will invest in global MFs.
Prudential Mutual Fund has filed an
offer document with SEBI for launching an open ended debt scheme called ICICI
Prudential Global Stable Equity Fund.
fund is an open-ended fund of funds scheme that aspires to provide returns by
investing largely in units of Nordea 1—Global Stable Equity Fund (N1–GSEF). The
scheme may also possibly invest in similar overseas mutual fund schemes. The
scheme aims to differentiate itself from other schemes based on the fact that it
is a fund-of-funds predominantly investing in schemes of mutual funds overseas.
scheme will allocate a minimum of 80% and a maximum of 100% of its total assets
with units/shares of N1–GSEF. A maximum of 20% will be allocated to cash,
domestic money market securities, and money market/liquid schemes of domestic
mutual funds including that of ICICI Prudential Mutual Fund.
scheme will offer SIP facility. It has two options: Regular Option and
Institutional Option I. Both options offer choices of growth and dividend. The
dividend option comes with dividend payout and dividend reinvestment facilities.
An exit load of 1% is chargeable if the investment is redeemed or switched
within a year from the date of allotment.
World Index (EUR Hedged) Net Total Return will be considered as the benchmark.
The performance will also be compared with the scheme’s peers in the industry.
fund will be managed by Punit Mehta (overseas investments) and Chaitanya Pande (domestic