ICICI Prudential Mutual Fund launches open-ended growth growth fund named ICICI Prudential US Bluechip Equity Fund.
The new fund will be open from till July 2, 2012, where investors can invest with minimum investment of Rs 5,000.
As per the fund house, the current US market reflects political stability, strong corporate governance, sound financial accounting and fewer challenges in comparison to other markets which will help in diversifying the portfolio of investors through this investment, reports PTI
The investment objective of ICICI Prudential US Bluechip Equity Fund is to provide long term capital appreciation to investors by primarily investing in equity and equity related securities (including ADRs/GDRs issued by Indian and foreign companies) of companies listed on New York Stock Exchange (NYSE) and/or NASDAQ. However, there can be no assurance that the investment objective of the Scheme will be realized.
Entry Load is not applicable. Exit Load a) For redemption or switch-out of units within 3 months from the date of allotment - 3% of the applicable NAV b) For redemption or switch-out of units after 3 months but before 1 year (including the last day of a year) from the date of allotment - 1% of the applicable NAV c) For redemption/switch-out of units after 1 year from the date of allotment will be NIL.
ICICI Prudential, which is a joint venture between ICICI Bank and the England-based Prudential, is one of the largest fund houses with an investor base of around 2 million.