CICI Prudential Mutual Fund has launched ICICI Prudential Banking and Financial Services Fund, an open-end equity scheme. The scheme opened for subscription on July 9, 2008 and will close on Aug 07, 2008. The units of the scheme will be available at Rs 10 per unit.
Objective
ICICI Prudential Banking and Financial Services Fund seeks to generate long-term capital appreciation by investing in equity and equity related securities of companies engaged in banking and financial services.
The scheme will offer for redemption/switch-out of units at daily intervals at NAV based prices.
The scheme offers growth option and dividend option. The dividend option shall have payout and reinvestment facility.
The minimum application amount is Rs 1,000 and Re 1 thereafter.
During the NFO period fund aims at raising Rs 10 million, however there is no upper limit.
Asset Allocation
The scheme aims at investing 65% to 100% in Equity & Equity related securities of companies engaged in Banking and Financial Services Sector, 0% to 35% in debt instruments.
Investment Strategy
The fund will follow the bottom-up approach to identify bargain stocks. This will involve intensive company visits and research to arrive at an intrinsic value of the company and identifying and investing in stocks with promising potential for long-term growth. The stocks may be at any levels of market capitalization.
Banking and financial services includes and is not restricted to the following types of companies / industries banking companies, broking companies, asset management companies, wealth management companies, insurance companies, non-banking financial companies (nbfc), investment banking companies, leasing and finance companies, term lending institutions and any other company engaged in providing banking and financial services.
Performance and Management
The performance of the scheme will be measured against benchmark, BSE Bankex and the fund manager for the scheme is Prashant Poddar.
Objective
ICICI Prudential Banking and Financial Services Fund seeks to generate long-term capital appreciation by investing in equity and equity related securities of companies engaged in banking and financial services.
The scheme will offer for redemption/switch-out of units at daily intervals at NAV based prices.
The scheme offers growth option and dividend option. The dividend option shall have payout and reinvestment facility.
The minimum application amount is Rs 1,000 and Re 1 thereafter.
During the NFO period fund aims at raising Rs 10 million, however there is no upper limit.
Asset Allocation
The scheme aims at investing 65% to 100% in Equity & Equity related securities of companies engaged in Banking and Financial Services Sector, 0% to 35% in debt instruments.
Investment Strategy
The fund will follow the bottom-up approach to identify bargain stocks. This will involve intensive company visits and research to arrive at an intrinsic value of the company and identifying and investing in stocks with promising potential for long-term growth. The stocks may be at any levels of market capitalization.
Banking and financial services includes and is not restricted to the following types of companies / industries banking companies, broking companies, asset management companies, wealth management companies, insurance companies, non-banking financial companies (nbfc), investment banking companies, leasing and finance companies, term lending institutions and any other company engaged in providing banking and financial services.
Performance and Management
The performance of the scheme will be measured against benchmark, BSE Bankex and the fund manager for the scheme is Prashant Poddar.
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