ICICI Prudential Mutual Fund has launched ICICI Prudential Housing Opportunities Fund, an open ended equity scheme that will invest in equity instruments of entities engaged in housing activities.
Housing as a theme constitutes various sectors like cement, consumer electronics, housing finance, banks, power, steel, LPG/CNG/PNG/LNG supplier and so on.
In a press release, Chintan Haria, Head - Product Development and Strategy, ICICI Prudential MF said, “India’s favorable demographics, growing middle class population, increased urbanization, better affordability and lower home loan interest rates are creating a conducive environment for housing and allied themes. Moreover, the government has been trying to stimulate activity in the sector through various supportive measures like affordable housing, affordable rental housing complex (ARCH) scheme, increase in capex, stamp duty cuts, 100% FDI for townships and settlements development projects to name a few. India being one of the fastest growing economies should see strong demand for housing as was seen historically in other developed economies.”
