Mutual Fund

ICICI Pru MF launches a thematic fund focusing on innovation

NFO opens on April 10 and closes on April 24.

ICICI Prudential Mutual Fund has introduced the ICICI Prudential Innovation Fund, an open-ended equity scheme that will focus mainly on investing in stocks of companies and units of global mutual funds/ETFs that can reap the benefits of innovative strategies. The fund house states that innovation can range from the creation of the wheel to modern-day techniques such as Artificial Intelligence (AI). Innovation can be categorized into three types: Radical innovation (replacement of an existing product with a completely new one), disruptive innovation (providing new cost-effective products and services to a large customer base), or incremental innovation (improvements to existing products, services, processes, or methodologies).

Today’s Best deals on Amazon

According to Chintan Haria, Head – Investment Strategy at ICICI Prudential AMC, “As countries aim to attain greater self-reliance in terms of resources, innovation as a theme is expected to perform well both globally and domestically. With the rollout of 5G technology, a wide range of sectors/industries are likely to benefit, and India already has a strong environment in place to foster innovation. Our research team will monitor sector/theme-specific trends since innovation can happen anywhere.” A press release was issued to announce the fund’s launch.

Invest Now Online :
Existing Investors in ICICI Mutual Funds click here
New Investors click here

3 replies »

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s