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ICICI Prudential launches ICICI Prudential Growth Fund

India Blooms News Service | | Jul 19, 2014, at 04:52 am

#ICICI Prudential launches ICICI Prudential Growth Fund

New Delhi, July 18 (IBNS): ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Growth Fund-Series 2, a three and half year close ended equity fund that aims to provide capital appreciation by investing in a well-diversified portfolio of equity and equity related instruments.

Speaking on the launch of this fund and the thought behind it, Nimesh Shah, MD & CEO, ICICI Prudential Asset Management Company Ltd. said, “The Indian economy is on the cusp of bouncing back from the crunching slowdown of the past few years. Many comprehensive measures have been announced by the new government for getting economic growth back on track. With the economy bound to recover sooner or later, we believe equities make a case for investment as the compounding asset class. At the current market valuations, we recommend investors look at equities with a three to five year horizon”

The fund will be managed by Yogesh Bhatt, Fund Manager, ICICI Prudential AMC and. Vinay Sharma, Fund Manager, ICICI Prudential AMC.

Overseas investment will be managed by Ashwin Jain.

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