ICICI Prudential Mutual Fund has launched the ICICI Prudential Business Cycle Fund, an open-ended equity scheme.
The scheme will provide long term wealth creation by investing in equity and equity related securities with focus on riding business cycles through dynamic allocation between various sectors and stocks.
Date of launch
The New Fund Offer (NFO) will be open from December 29 and closes on January 12.
The scheme will reopen for the ongoing subscription and redemption within five business days from the date of allotment.
Top-down approach
ICICI Prudential Business Cycle Fund will follow a top down approach right from monitoring macro indicators (global and domestic), identifying business cycle followed by determining suitable theme/sectors and selecting the stocks within these theme/sectors.
Benchmark
The scheme’s performance will be benchmarked against Nifty 500 TRI and will fall under the thematic category of SEBI categorisation.
Objective
The investment objective of the scheme is to generate long-term capital appreciation by investing with a focus on riding business cycles through allocation between sectors and stocks at different stages of business cycles.
Strategy
The scheme will follow a top-down approach to investing and will invest across market capitalisation.
It will start right from monitoring macro indicators both global as well as domestic and will also, identify business cycles.
This will be followed by determining suitable themes or sectors as well as selecting stocks within these themes or sectors.
Fund Manager
The scheme will be managed by Anish Tawakley and Ihab Dalwai. Manish Banthia will be the co-fund manager involved in identifying business cycles.
Meanwhile, Priyanka Khandelwal is the dedicated fund manager for overseas investments.
Comment from MD & CEO
Hshs, “Stock market sector returns generally are affected by the various business cycle phases.
A typical business cycle will have 4 distinct phases viz., Growth, Recession, Slump & Recovery.
While each phase is different, an investment approach which identifies and analyses key phases in the economy could help generate a positive investment experience.
ICICI Prudential Business Cycle Fund offers a different style which focuses on macros.
By investing, investors can gain access to appealing sectors at any particular point in time.
It will further aim to achieve diversification within those sectors.”
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