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Mutual Funds - Reports

16-Jan-2025 14:49

ICICI Prudential launches new fund focused on rural India's growth

ICICI Prudential Mutual Fund has launched the ICICI Prudential Rural Opportunities Fund, an open-ended equity scheme designed to capitalize on the growth of the Indian rural economy.

The fund aims to generate long-term capital appreciation by investing in companies that significantly contribute to or benefit from the growth of rural India. This includes companies with a strong presence in sectors like agriculture, rural infrastructure, consumer goods, and financial services.

The New Fund Offer (NFO) is open for subscription from January 16th to January 23rd, 2025. The minimum initial investment for the fund is Rs 5,000.

The scheme will be benchmarked against Nifty Rural Index TRI, which tracks the performance of stocks from the Nifty 500 Index, which represent the rural theme.

The fund seeks to capitalize on the significant growth potential of the Indian rural economy, which plays a crucial role in the country's overall development.

The fund will invest across various sectors, including automobiles, consumer durables, FMCG, and financial services, with a focus on companies with strong rural market penetration.

The fund will be managed by a seasoned team, including Sankaran Naren and Priyanka Khandelwal.

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