ICICI Prudential AMC renames 19 mutual fund schemes, revises scheme types of 23 funds

ICICI Prudential Asset Management Company (AMC), India’s second-largest asset management company, has revised the names of 19 mutual fund schemes and changed the scheme types of 23 funds across equity, debt and hybrid categories.

The changes took effect from August 26, 2026, and follow the Securities and Exchange Board of India’s (SEBI) revised framework for the categorisation and rationalisation of mutual fund schemes.

The AMC said the relevant sections of the Statement of Additional Information (SAI), Scheme Information Documents (SIDs) and Key Information Memorandums (KIMs) will also be updated to incorporate necessary and incidental changes arising from the revised regulatory guidelines.

The revisions follow changes introduced by SEBI under the “Categorization and Rationalization of Mutual Fund Schemes” chapter of its Master Circular for Mutual Funds dated March 20, 2026, along with related FAQs.

ICICI Prudential mutual fund scheme name changes

Among the equity schemes, ICICI Prudential Dividend Yield Equity Fund has been renamed ICICI Prudential Dividend Yield Fund, while Focused Equity Fund has become Focused Fund.

Similarly, ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund has been renamed Healthcare Fund. The Midcap, Multicap, Smallcap and Flexicap funds have also undergone minor naming changes, including the addition of spaces in “Mid cap”, “Multi cap”, “Small cap” and “Flexi cap”.

In the debt category, ICICI Prudential Savings Fund has been renamed ICICI Prudential Ultra Short to Short Term Fund, while Medium Term Bond Fund, Long Term Bond Fund and Bond Fund have been renamed Medium Term Fund, Long Term Fund and Medium to Long Term Fund, respectively.

Other changes include renaming All Seasons Bond Fund as Dynamic Term Fund and Floating Interest Fund as Floating Interest Rates Fund.

The AMC also changed the names of several hybrid schemes. Equity & Debt Fund is now Aggressive Hybrid Fund, Regular Savings Fund is now Conservative Hybrid Fund, while Multi-Asset Fund has been renamed Multi Asset Allocation Fund.

Effective August 26, 2026, ICICI Prudential AMC revised the names of 19 mutual fund schemes. The changes span equity, debt and hybrid categories and largely align the scheme names with SEBI’s revised categorisation framework.

Source: ICICIDirect

Scheme type revisions

ICICI Prudential AMC has also revised the formal scheme-type descriptions of several equity funds.

The changes generally replace descriptions stating that a scheme is “following” a particular theme with language stating that it is “investing in” that theme. This applies to funds such as Infrastructure Fund, Manufacturing Fund, MNC Fund, Technology Fund, Energy Opportunities Fund, Quality Fund and Active Momentum Fund.

The US Bluechip Equity Fund has also been described as an open-ended equity scheme investing in the US-focused large-cap theme.

For the Multi Asset Allocation Fund, the revised description removes units of REITs from the investment universe while retaining equity, debt, commodity derivatives, gold ETFs, silver ETFs, InvITs and preference shares.

What investors should know

ICICI Prudential AMC had assets under management of Rs 11,96,668 crore as of June 30, 2026, with more than 1.73 crore investors and over 143 schemes.

The AMC has also launched three open-ended life-cycle funds — Life Cycle Fund 2031, Life Cycle Fund 2036 and Life Cycle Fund 2041. Their NFO period runs from August 26 to September 9, with maturity periods of five, 10 and 15 years, respectively.

The AMC said scheme names will be updated across stock exchanges, depositories and other platforms in due course.

Investors should note that a change in a scheme’s name or scheme type does not, by itself, imply a change in its investment objective, risk profile or expected returns. Investors should refer to the latest SID, KIM and official AMC communications before making investment decisions.