Money Today ties up with Plexus Management to bring to you new fund evaluations. This time it's the ICICI Prudential Focused Equity Fund.
Offer open: Till 7 May 2008
Scheme type: Open-ended diversified equity
Minimum investment: Rs 5,000; unit price: Rs 10
Loads: Entry load: 2.25%. Exit load: 0.5% (if less than six months)
Options: Growth and dividend (payout and reinvestment)
Investor grievances: Anisha Iyer. Tel: (022) 24999777. Email: enquiry@icicipruamc.com
Objective: Invest in equity and equity-related securities of about 20 large caps. Stocks to be selected from 200 large scrips traded on the NSE. If the total assets under management exceeds Rs 1,000 crore, the fund manager reserves the right to increase the number of companies to more than 20.
Benchmark: S&P CNX Nifty
Fund manager: Anand Shah
Asset allocation:
70-100% Equity And Equity-Linked
0-30% Debt and Cash
Comparable existing scheme:
Fund Name: Lotus AGILE
NAV* (Rs): 6.88
3-month return(%): -34.66
Returns since inception(%): -27.73
*NAV as on 8 April. Source: NAVIndia
Idea distiller: Focused approach with large-cap stocks as the criterion for picking stocks, aided by the active management structure of the fund house.
Fund house report: ICICI Prudential AMC is one of the biggest fund houses and manages assets of Rs 54,321 crore (as on 31 March).
Returns Profile: 3/5
Risk Profile: 3/5
Fund Managers Report: Performance of fund managers:
Returns profile: 1/5
Risk profile: 2/5
Scheme DNA: Four fundamentals of the fund scheme
Unique idea: Medium
Return possibility: High
Risk: Medium
Operability/Complexity: High
Who should apply: Those who are looking at diversifying within equities and looking for a safe way to do so.
Remember: This fund is a quick follow-up on the idea launched by Lotus and JM. An important consideration to keep in mind is the ICICI Prudential strength of active fund management. Though recent performance of similar funds has not been very good, there is a lot to gain from a fund structured this way.
