ICICI Prudential Mutual Fund has launched a new fund offer of flexi cap fund, an open-ended equity scheme that will invest across market capitalisation in India and has an enabling provision to invest in the overseas markets. NFO will be open for subscription between June 28 and July 12.
The Flexi cap fund aims to follow a mix of top-down and bottom-up approach to identify opportunities in large, mid and small-cap space, respectively. The investment universe considered will be the S&P BSE 500.
Nimesh Shah, Managing Director, ICICI Prudential AMC said, “Flexi cap funds has the flexibility to invest across market caps without any restriction. Based on macroeconomic factors and business cycle, the fund manager may fine tune the allocation suggested by the model which will be in line with the SID at all times.”
During volatile times, the large caps tend to limit downside and can provide liquidity to the portfolio while the expected economic recovery post the lockdown phase, the mid- and small-caps may be better positioned to capture potential upside in the economic recovery journey.