The NFO will open for subscription on September 17 and close on October 1.
ICICI Prudential Mutual Fund has launched its 42
months close end equity fund called ICICI Prudential Growth Fund - Series 3.The
NFO will open for subscription on September 17 and close on October 1, says a
press release issued by the company.
The scheme aims to provide capital
appreciation by investing in a diversified portfolio of equity and equity
related securities.
Nimesh Shah, Managing Director & Chief Executive
Officer, ICICI Prudential MF said, “The economic transformation continues with
major macroeconomic indicators showing a positive outlook. Macro stability
conditions are expected to improve further with the key driver being sustained
deceleration in CPI. This pick up in sentiments is likely to actuate revenue
growth for companies as GDP growth, demand up tick and profitability of
companies have high positive correlation. We believe there is an opportunity
available for equity markets with the earnings growth likely to improve going
ahead.”
The fund manager will pick up stock based on certain
financial metrics like discounted cash flow, cash flow return on investment,
earning yields etc., says the SID.
The scheme will be benchmarked against CNX Nifty Index. The minimum application amount is Rs.5000. Manish Gunwani is the fund manager.
