| ICICI Prudential Mutual Fund | |
| Scheme Name | ICICI Prudential Passive Multi-Asset Fund of Funds |
| Objective of Scheme | ICICI Prudential Passive Multi-Asset Fund of Funds is a Fund of Funds scheme with the primary objective to generate returns by predominantly investing in passively managed funds launched in India and/or overseas |
| Scheme Type | Open Ended |
| Scheme Category | Other Scheme – FoF Domestic |
| New Fund Launch Date | 27-Dec-2021 |
| New Fund Offer Closure Date | 10-Jan-2022 |
| Indicate Load Seperately | Entry Load: Not Applicable. Exit Load: Refer ‘Highlights of the Scheme’. However, the Trustee shall have a right to prescribe or modify the load structure with prospective effect subject to a maximum prescribed under the Regulations |
| Minimum Subscription Amount | Rs.1,000/- |
| For Further Details Please Visit Website | www.icicipruamc.com |
Source: https://www.amfiindia.com/
Mutual Funds Based on Asset Class
Fund of Funds: These funds are invest in other mutual funds and returns depend on the performance of the target fund. These funds can also be referred to as multi manager funds. These investments can be considered relatively safe because the funds that investors invest in actually hold other funds under them, thereby adjusting for risk from any one fund.
Mutual Funds Based on Structure
Open-ended Funds: These are funds in which units are open for purchase or redemption through the year. All purchases/redemption of these fund units are done at prevailing NAVs. Basically, these funds will allow investors to keep investing as long as they want. There are no limits on how much can be invested in the fund. They also tend to be actively managed which means that there is a fund manager who picks the places where investments will be made. These funds also charge a fee which can be higher than passively managed funds because of the active management. They are an ideal investment for those who want investment along with liquidity because they are not bound to any specific maturity periods. Which means that investors can withdraw their funds at any time they want thus giving them the liquidity they need.
