The Lumpsum investments in ICICI Prudential Smallcap Fund will be discontinued with effect from July 31, 2018. ICICI Prudential Trust Limited, which operates as a trustee to the schemes launched by ICICI Prudential MF, has approved the changes in the scheme.
According to IIFL, ICICI Prudential Trust Limited, a Mumbai-based company which operates as a subsidiary of ICICI Bank Ltd, has approved the alterations in the subscriptions through Lumpsum investments in the ICICI Prudential Smallcap Fund which will be stopped with effect from July 31, 2018.
The ICICI Prudential Smallcap Fund aims to generate capital appreciation by mainly investing in equity and equity related instruments of small cap stocks, according to The Economic Times.
The open-ended equity smallcap scheme offers both Regular and Direct Plans with Growth and Dividend Options. The performance of the ICICI Prudential MF scheme comes under the NIFTY Smallcap 250 Total Return Index Benchmark.
The ICICI Prudential Smallcap fund size is 174.17 crore Rupees, and the face value of the scheme is 10 Rupees per unit.
Mr. Sankaran Naren and Mr. Atul Patel are the Fund Managers of the scheme since February 2015.
Before joining the ICICI Prudential AMC, Mr. Naren worked with Refco Sify Securities India Pvt. Ltd., Yoha Securities, and HDFC Securities Ltd. He has completed MBA (Finance) from IIM Kolkata, and B.Tech from IIT Chennai.
Mr. Patel has extensive experience in ADR/GDR and other foreign securities to ICICI Prudential Asset Management Company. He has completed B.Com (H), Chartered Accountant and CWA.
Earlier on June 19, 2018, five actively managed mutual fund schemes offered by ICICI Prudential AMC have invested around 6 billion Rupees in Bharat-22 ETF (Exchange Traded Fund), during the second tranche launch of the ETF, reported Business Standard.
SEBI (Securities and Exchange Board of India) has ordered the fund house to return 240 crore Rupees in ICICI Securities Initial Public Offering to its investors, with interest per annum of 15 percent. Following this order, the Market Regulator has taken steps to analyse the investment pattern of ICICI Prudential MF, according to Business Standard.
The post ICICI Prudential MF’s Smallcap Scheme Discontinues appeared first on OWLT Market.
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