ICICI Prudential Value Fund Series I

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Performance of the scheme will be benchmarked to the S&P BSE 500 index

ICICI Prudential Value Fund is a closeended equity scheme. The scheme will have tenure of three years (1095 days) from the date of allotment of units. Units of the scheme will be fully redeemed at the end of the maturity period, unless rolled over.

NFO PERIOD:

 

The NFO is open from October 18 to 28. The minimum subscription during the NFO period is Rs 5,000.

SCHEME OBJECTIVE:

 

The scheme aims to provide long-term capital growth by investing in a well-diversified portfolio of equity and equity-related securities.

INVESTMENT STRATEGY:

 

 The fund proposes to invest in stocks that are trading at a huge discount in the BSE 500 index and plans to book profit and distribute dividends regularly rather than waiting for 2-3 years as that could even wipe out the gains. As per the information document of the scheme, on the debt side the investment will be only in those securities that mature on or before the date of ma turity of the scheme.

BENCHMARK:

 

Perfor mance of the scheme will be benchmarked to the S&P BSE 500 index. S&P BSE 500 index repre sents nearly 94 per cent of the total market capi talisation on BSE. S&P BSE 500 covers the 20 major industries of the economy. The index consists of both growth and value stocks and is a fair representation of the indicative universe of the portfolio of the scheme.

ASSET ALLOCATION:

Indicative allocations are minimum 80 per cent to a maximum of 100 per cent in equity and equity-related instruments and up to 20 per cent in debt, money market instruments and cash.

The new fund offer from ICICI Prudential Mutual Fund is a departure from existing closeended equity funds, as such funds declare dividends only after the completion of the first year. But in this case, investors can look forward to dividend distribution much earlier, even before the completion of the first year of their investment. ICICI Pru Value Fund proposes to give dividend as and when the investment shows the desired appreciation in the net asset value.

The fund only offers the dividend option unlike other funds that also offer growth option. Equity funds with three-year lock-in have a better chance of rewarding investors with a good returns compared with an openended fund, where redemption pressure often doesn't allow fund managers to go for a long-term investment strategy. Value investing would be a good option now as the new government is expected to focus on growth, which will be a positive for the stocks that are now trading at discount.

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