ICICI Prudential Growth Fund – Series 7 NFO

Year 2015 starts in an interesting environment, where crude oil prices have corrected significantly and are at levels which no one could have imagined few months back. This situation places India in a sweet spot as it will provide massive benefit to India's economy over a medium to long term period. As we speak today, our medium and long term outlook for equities have improved considerably since August 2014, owing to relative attractiveness of India due to this sharp fall in crude prices.

India's economy is beginning a new growth cycle, driven by reduced macro imbalances – especially lower fiscal and current account deficits and falling inflation, benign global conditions (lower commodity prices), and structural reforms by the new government to boost investments. Corporate earnings are expected to grow in the medium term owing to pick-up in capex cycle and demand, on the back of lower interest rates. Taking note of these factors, we believe we are away from the peak of the current bull cycle. Hence, it is important for investors to stay invested in the equity market. However, in bull market also, we may witness few short term corrections. To capitalize on such up and down market movements, we are IntroducingICICI Prudential Growth Fund – Series 7,a 3.5 year close ended fund - a combination of Direct Equity (80-100%) with the flexibility to use Options (0-20%).

Investment Strategy

• Equity Component of the Fund to be thePrimary Source of Alpha Generation.
• Stock Selection to be a Bottom Up Process and will be sector Agnostic.
• Endeavor to identify the top 20 ideas which have the potential to be out performers over a period of 3.5 years
• 10 large cap + 10 midcap high conviction ideas.
• Options to be used as a secondary source of Alpha.
• In House Price to Book Model will only be the guiding factor to determine the percentage of call or put options.
• Experience of our P/BV model in our Asset Allocation funds give us comfort that we can potentially identify extreme market conditions( expensive or cheap valuations) to use Options (Put & Call as the case may be )
• Actual percentage to be deployed in call or put options will be on the basis prevailing market condition and will be added in the portfolio in a staggered manner.
• Tenure and quantum of call or put options will be at the discretion of the fund manager.

Scheme Features

Type of scheme	A Close ended equity scheme
Investment Objective	The investment objective of the Scheme is to provide capital appreciation by investing in a well diversified portfolio of equity and equity related securities. However, there can be no assurance that the investment objective of the Scheme will be realized.
Options	Direct Plan – Dividend payout Option Regular Plan – Dividend payout Option
Minimum Application Amt.	Rs.5,000 (plus in multiple of Rs.10)
Entry & Exit Load	Not Applicable
Benchmark Index	CNX Nifty Index
Fund Manager*	Manish Gunwani and Venkatesh Sanjeevi

 

 

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

 

1.       ICICI Prudential Tax Plan

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3.       HDFC TaxSaver

4.       DSP BlackRock Tax Saver Fund

5.       Religare Tax Plan

6.       Franklin India TaxShield

7.       Canara Robeco Equity Tax Saver

8.       IDFC Tax Advantage (ELSS) Fund

9.       Axis Tax Saver Fund

10.    BNP Paribas Long Term Equity Fund

 

You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds

 

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