ICICI Pru Mutual Fund (MF) has launched the ICICI Prudential Commodities Fund, an open ended equity scheme. The NFO opens for subscription on September 25, 2019 and closes on October 09, 2019. Entry load is nil and Exit load will be 1% of applicable Net Asset Value, if the amount sought to be redeemed or switch out is invested for a period of up to twelve months from the date of allotment and Exit load will be nil, if the amount, sought to be redeemed or switch out is invested for a period of more than twelve months from the date of allotment. The minimum subscription amount is Rs 5000 (plus in multiple of Re 1).
The scheme’s performance will be benchmarked against Nifty Commodities TRI and its fund managers are Sankaran Naren, Mittul Kalawadia and Priyanka Khandelwal.
The investment objective of the scheme is to generate long-term capital appreciation by creating a portfolio that is invested predominantly in Equity and Equity related securities of companies engaged in commodity and commodity related sectors.