ICICI Prudential Mutual Fund will launch ICICI Prudential Business Cycle Fund, an open-ended equity scheme that aims to provide long term wealth creation by investing in equity securities with focus on riding business cycles.
In a press release, Nimesh Shah, MD and CEO, ICICI Prudential MF said, “A typical business cycle will have four distinct phases - growth, recession, slump and recovery. While each phase is different, an investment approach which identifies and analyses key phases in the economy could help generate a positive investment experience. The fund offers a different style which focuses on macros. By investing, investors can gain access to appealing sectors at particular point in time. It will further aim to achieve diversification within those sectors.”
The scheme will be managed by Anish Tawakley, Ihab Dalwai and Manish Banthia. The benchmark of the scheme is Nifty 500 TRI.
