Issue Opening Date : April 8, 2008
Issue Closing Date : May 7, 2008
Mutual Fund Family : ICICI Prudential Asset Mgmt.Co. Ltd Fund Class : Equity Diversified
Fund Type : Open-Ended
Investment Plan : Growth
Fund Manager : Prashant Kothari
Entry Load : 2.25 %
Exit Load : 1.00 %
Benchmark : S&P CNX Nifty
Minimum Investment : Regular Plan - Rs. 5000, Institutional Plan - Rs. 10 crore.
The fund has a straight forward strategy to invest in the top 20 companies from the NSE index. The fund is likely to deliver returns and behave like a large-cap index like Sensex and Nifty. The fund might be a reasonable choice for its predictable strategy and relative safety of the mega-cap stocks. This fund could be a worthy consideration for NFO fans, seeking an opportunistic bet on the market turnaround which can especially benefit this fund.
Views - The fund theme looks similar to Sundaram select focus , JM core 11 and other such funds which focus on a smaller number of stocks for investment. Since, the focus is on only 20 stocks there is a high risk- return probability. The focus is going to be on large caps. So, the risk is reduced to some extent.
SIP in a focus fund would be a better strategy than a bulk investment in this volatile phase. If you are not too keen on ICICI, you can choose from a proven focus fund to invest. Prefer direct investment in MF, as this will avoid incurring entry load on your investment.
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ULIP Vs MF SIPE
Sundaram BNP Paribus MF launches Select Thematic Funds Financial Services Opportunities (On Apr 16 , 2008)
Sundaram Mutual Fund launches an open ended sectoral equity fund, Sundaram BNP Paribas Select Thematic Funds Financial Services Opportunities. The investment objective of the scheme is to seek long-term capital appreciation by investing predominantly in equity and equity related securities of Indian companies engaged in the banking and financial services. The fund will invest 65-100% in equity and equity related instruments predominantly Indian companies relevant to the theme. It will have a 0-35% investment in equity and equity-related instruments outside of the theme. There will be 0-15% investment in fixed income and money market instruments. Equity investments may also include overseas securities, up to a maximum of 35% of net assets of the scheme. The new fund offer is open for subscription from 17 April 2008, and closes on 14 May 2008. source- MFI site
Views- Financial services and Entertainment are potential growth sectors in India . Those who have the adequate exposure to diversified equity portfolio can allocate a small portion to these funds. If you are a new investor, better to start with some proven diversified equity funds.
News - Source MFI-AIG Investments has announced the launch of the AIG World Gold Fund – an open ended Fund of Funds Scheme investing in companies engaged in the extracting, processing and marketing of gold through an international fund. The primary investment objective of the Scheme is to provide long term capital appreciation by investing predominantly in units of AIG PB Equity Fund Gold based in Zurich. The New Fund Offer will be open for purchase from 15 April - 14 May 2008 and will re-open for ongoing purchase/redemption no later than 12 June 2008. The scheme will offer both the options: Growth and Dividend with Dividend Payout and Dividend Reinvestment facilities. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes. The Scheme may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/liquid schemes of Mutual Funds, in order to meet liquidity requirements from time to time. The scheme will invest 80% – 100% in units of AIG PB Equity Gold Fund and other similar overseas fund and the rest 0% - 20% in debt and money market securities and units of debt and liquid schemes of domestic mutual funds.
Views- This fund seems similar to DSPML world gold fund in concept. This would be a good option for those who want to diversify into Gold. This fund would be considered as a DEBT fund for taxation of dividends and redemptions.
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