Flexicap Fund is ICICI Prudential Mutual Fund launches the new fund offer. This open-ended equity scheme provides capital appreciation by investing in equity and equity-related securities across market capitalization, based on an in-house market cap allocation model. On June 28, the new fund offers open which close on July 12. The Flexicar fund will follow a mix of a top-down and bottom-up approach to identify opportunities in large-, mid-and small-cap spaces.
According to the asset management company (AMC), the investment universe considered will be the S&P BSE 500. The stock selection can be based on multiple parameters such as company fundamentals and valuations, among others.
“Flexi cap is one category (as per SEBI Scheme categorization) among the equity schemes which is the most flexible among the equity scheme offerings. The ICICI Prudential Flexicap Fund has the flexibility to invest across large, mid and small-cap space without any restriction. Our in-house market cap allocation model will guide us to provide direction and help ascertain the right allocation to various market caps,” said Nimesh Shah, MD and CEO, ICICI Prudential AMC.
Rajat Chandak, senior fund manager who manages the funds and overseas investments will be managed by fund manager Priyanka Khandelwal. It will invest 65-100 per cent in equity and equity-related instruments of large-cap, mid-cap and small-cap companies, 0-35 per cent in other equity and equity-related instruments, 0-35 per cent in debt instruments, units of debt mutual fund schemes and money market instruments and 0-10 per cent each in preference shares and units issued by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).