ICICI Prudential Mutual Fund has launched ICICI Prudential Passive Multi-Asset Fund of Funds. ICICI Prudential Mutual Fund says that the offering aims to provide returns that closely correspond to the total return of the benchmark CRISIL Hybrid 50+50- Moderate Index (80% weightage) + S&P Global 1200 Index (15% weightage) + Domestic Gold Price (5% weightage) subject to tracking errors.

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The NFO opens December 27, 2021 and closes on January 10, 2022.

Minimum investment required during NFO is Rs. 1000.

Highlights: (As provided in a company statement)

- An open-ended fund of funds scheme investing in equity, debt, gold and global index funds/exchange traded funds

- The offering aims to be a simple investment solution providing a blend of various asset classes

- Asset allocation: Domestic Equity ETFs/Index Funds (25%-65%), Domestic Debt ETFs/Index Funds (25%-65%), Gold ETFs (0%-15%) and Overseas ETFs and Index Funds (10%-30%)

- The Scheme is capable to invest in any ETFs/ Index Fund launched by any other mutual fund in India

Speaking on the launch of the product, Chintan Haria, Head – Product Development & Strategy, ICICI Prudential Mutual Fund said, “We believe this product is a simple solution for an investor looking for multi-asset allocation through the passive route. Apart from allocation to domestic equities ETFs/Index, debt ETFs/Index, and gold ETFs, an investor will also have exposure to ETFs/Index
investing in global companies as well through this product, thus bringing in geographical diversification as well.”