ICICI Prudential AMC has announced the launch of the ICICI Prudential Manufacture in India Fund. The new fund offer (NFO) of this scheme will start on 21st September and end on 5th October 2018. It will primarily invest in stocks related to the domestic manufacturing sector.
ICICI Prudential Manufacture in India Fund is an open-ended scheme and you will be able to invest in and redeem scheme units on all business days. But keep in mind the 1% exit load on units redeemed within 18 months of the allocation date.
The ICICI Prudential Manufacture in India Fund will mainly invest in equity and equity derivatives of domestic manufacturing companies. Key sectors within ambit of the ‘Manufacture in India’ are – export oriented companies, capital goods companies and domestic consumption players. ICICI Prudential Manufacture in India Fund is expected to invest in sectors such as oil & gas; pharmaceuticals and chemicals; automotive and auto ancillaries; capital goods; defence manufacturing; power; consumer non-durables; as well as electrical/electronic goods manufacturers.
This new multi cap equity fund will be benchmarked against the S&P BSE 500 Index. The returns offered by this index for the 1 year, 3 year and 5 year periods is 16.53%, 16.04% and 20.45% as of 31st August 2018. Top constituents of this diversified index include HDFC Bank, Reliance Industries, HDFC, Infosys, ITC and TCS to name a few.
The equity portion of ICICI Prudential Manufacture in India Fund will be co-managed by Anish Tawakley and Mittul Kalawadia. Additionally, Priyanka Khandelwal will be responsible for the scheme’s foreign securities, American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) investments. Popular schemes currently managed by them (individually or as co-managers) include the extremely popular ICICI Prudential Bluechip Fund (AUM Rs. 19,836 crore) and ICICI Prudential Value Discovery Fund (AUM Rs. 17,329 crores on 31st August 2018).
Also Read: ICICI Prudential Exports and Services Fund
Additional Information about ICICI Pru Manufacture in India Fund NFO:
| NFO Period | 21st September to 5th October, 2018 |
| Minimum Investment | Rs. 5000 |
| Benchmark | S&P BSE 500 |
| Fund Managers | Anish Tawakley, Mittul Kalawadia and Priyanka Khandelwal |
| Plans and Options | Direct/Regular & Growth/Dividend (payout/reinvest) |
Other Funds by ICICI Prudential Asset Management
| Scheme Name | 3Y Returns (%) | AUM (Rs. Cr.) | Category |
| ICICI Prudential US Bluechip Equity Fund | 17.56 | 155.44 | Sectoral/Thematic Fund |
| ICICI Prudential Technology Fund | 16.88 | 366.24 | Sectoral/Thematic Fund |
| ICICI Prudential FMCG Direct Plan | 12.83 | 389.29 | Sectoral/Thematic Fund |
| ICICI Prudential Banking and Financial Services Fund | 12.82 | 2703.9 | Sectoral/Thematic Fund |
| ICICI Prudential Nifty Index Fund | 11.59 | 327.6 | Large Cap Fund |
| ICICI Prudential Asset Allocator Fund (FOF) | 10.5 | 5.74 | Balanced Hybrid Fund |
| ICICI Prudential Bluechip Fund | 10.45 | 17141.91 | Large Cap Fund |
| ICICI Prudential Constant Maturity Gilt Fund | 10.08 | 26.27 | Gilt Fund with 10 year constant duration |
| ICICI Prudential Balanced Advantage Fund | 10.06 | 27123.16 | Dynamic Asset Allocation or Balanced Advantage |
| ICICI Prudential Long Term Bond Fund | 9.89 | 1223.84 | Long Duration Fund |
| ICICI Prudential Global Stable Equity Fund (FOF) | 9.81 | 90.62 | Sectoral/Thematic Fund |
| ICICI Prudential Regular Savings Fund | 9.62 | 1355.69 | Conservative Hybrid Fund |
| ICICI Prudential Regular Gold Savings (FOF) | 9.49 | 44.61 | Gold Funds |
| ICICI Prudential Long Term Equity Fund (Tax Saving) | 9.18 | 5299.48 | ELSS |
| ICICI Prudential All Seasons Bond Fund | 9.09 | 2286.07 | Dynamic Bond Fund |
| ICICI Prudential Gilt Fund | 8.96 | 743.86 | Gilt Fund |
| ICICI Prudential Credit Risk Fund | 8.88 | 10408.93 | Credit Risk Fund |
| ICICI Prudential Child Care Gift Fund | 8.88 | 477.69 | Aggressive Hybrid Fund |
| ICICI Prudential Multicap Fund | 8.52 | 2856.06 | Multi Cap Fund |
| ICICI Prudential Short Term Fund | 8.47 | 9123.29 | Short Duration Fund |
{Data as on Feb 19, 2020; Source: Value Research}