ICICI Prudential MF joins hands with US based First Trust, launches Strategic Metal & Energy Equity Fund of Fund

ICICI Prudential Asset Management Company and First Trust Advisors – an American financial services firm and a leading provider of actively managed Exchange -Traded Funds came together to launch the ICICI Prudential Strategic Metal & Energy Equity Fund of Fund (IPSME)

The scheme will invest in First Trust Strategic Metal and Energy Equity UCITS Fund, managed by First Trust Advisors. The offshore scheme invests in shares of companies in the field of gold and oil. Gold and oil are two key imports of India. More than 80% of the oil and gold used in India is imported. The scheme can offer meaningful diversification for investors looking to invest overseas.

First Trust was established in 1991.

The NFO of ICICI Prudential Strategic Metal & Energy Equity Fund of Fund closes on January 31, 2022.

In India DSP World Gold fund offers exposure to stocks of gold mining funds, through investments in units of Blackrock Funds – World Gold Fund. DSP World Gold fund has given lost money (-0.3%) over last decade. Over last one and five years period it has given -4.88% and +6.46% returns.

There are many schemes focusing on shares of commodity companies in India. DSP World Energy Fund offers exposure to stocks in energy sectors. DSP World Energy Fund has given 4.89% returns over last five years.