ICICI Mutual Fund Advisor Series – Passive Strategy Fund Announces Exit Load Change

ICICI Mutual Fund Advisor Series – Passive Strategy Fund scheme has announced a change in its exit load structure with effect from September 07, 2018.

As per the revised exit load structure of the ICICI Prudential Mutual Fund scheme, for up to 12 months from the allotment, there will be an exit load charge of 1 percent of applicable NAV. For more than 12 months, there will be no exit load charge.

ICICI Prudential Advisor Series – Passive Strategy Fund, which was introduced in November 2003, aims to produce long-term capital appreciation by investing mainly in the schemes of Prudential ICICI Mutual Fund schemes with asset allocations in equity and equity-related instruments and by investing a small percentage in debt and money market securities.

ICICI Mutual Fund Advisor Series – Passive Strategy Fund scheme is benchmarked against NIFTY 50 Total Return. The face value of the scheme is 10.00 Rupees per unit and the fund size is 8.67 Crore Rupees. The minimum initial investment amount for the scheme is 5000 Rupees.

Mr. Dharmesh Kakkad has been the fund manager of the open-ended balanced hybrid scheme since May 2018. Mr. Kakkad started working with ICICI Prudential Mutual Fund from 2009. He has completed B.Com, CA and CFA.

The CIO of this open-ended balanced hybrid fund scheme is Mr. Sankaran Naren, and the CEO is Mr. Nimesh Shah.

The scheme allocates 95 percent to 100 percent of its assets in equity instruments and 5 percent in other securities except for debt instruments. The scheme offers both Regular Plan and Dividend Plan.

The NAV (Net Asset Value) of the ICICI Prudential Mutual Fund scheme is 68.4020 Rupees as on August 30, 2018. The AUM (Asset Under Management) of the scheme is 9.27 Crore Rupees, according to The Economic Times.

The ICICI Prudential Mutual Fund house announced the exit load structure change for the ICICI Mutual Fund Advisor Series – Passive Strategy Fund scheme on September 04, 2018, according to KJMC.

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