ICICI Prudential Mutual fund, the second largest mutual fund house in the Indian mutual fund industry, has launched the new fund offer of the ICICI Prudential Rural Opportunities Fund (IPROF). This is maiden new fund launch by the fund house in the CY2025. The new fund offer will close for subscription on January 23, 2025.
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The fund aims to invest in stocks of companies that are expected to do well due to expansion of rural economy and various allied themes. Two third of Indian population lives in rural regions, which can be a defining aspect of India growth story. <\/p>\n\n\n\n
Fortunes of some of the key sectors such as agriculture, fast moving consumer goods, banking and consumer durables are tied to rural well-being. The government has been actively pushing for welfare and job creation in the rural India. Initial signs of revival of the rural economy are here and IPROF is expected to identify beneficiaries of the same and invest in them.
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Despite being a thematic offering, the portfolio is expected to be diversified across sectors. The performance of the scheme will be benchmarked against Nifty Rural TRI. The index has financial services (24%), FMCG (21%), automobile & auto components (17%), telecommunication (9%) and power (8%) has some of the key sectors. The numbers in the brackets mention respective allocation to each sector.
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The scheme will be managed by Sankaran Naren and Priyanka Khandelwal. The scheme charges an exit load of 1% of applicable net asset value, if the units are sold within 12 months from the date of allotment. The scheme allows both growth as well as ICDW option and encourages investments through systematic investment plans.
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In the past Sundaram Mutual Fund had launched Sundaram Rural India Fund and Mahindra Manulife AMC had launched Mahindra Rural Bharat and Consumption Yojana. Both were repurposed as consumption theme funds later.<\/p>\n","protected":false},"excerpt":{"rendered":"
ICICI Prudential Mutual fund, the second largest mutual fund house in the Indian mutual fund industry, has launched the new fund offer of the ICICI Prudential Rural Opportunities Fund (IPROF). This is maiden new fund launch by the fund house in the CY2025. The new fund offer will close for subscription on January 23, 2025. The fund aims to invest<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,26],"tags":[3,11,31],"class_list":["post-263","post","type-post","status-publish","format-standard","hentry","category-investing","category-news","tag-investing","tag-mutual-funds","tag-nfo"],"_links":{"self":[{"href":"https:\/\/wealthden.com\/wp\/wp-json\/wp\/v2\/posts\/263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wealthden.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wealthden.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wealthden.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wealthden.com\/wp\/wp-json\/wp\/v2\/comments?post=263"}],"version-history":[{"count":2,"href":"https:\/\/wealthden.com\/wp\/wp-json\/wp\/v2\/posts\/263\/revisions"}],"predecessor-version":[{"id":265,"href":"https:\/\/wealthden.com\/wp\/wp-json\/wp\/v2\/posts\/263\/revisions\/265"}],"wp:attachment":[{"href":"https:\/\/wealthden.com\/wp\/wp-json\/wp\/v2\/media?parent=263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wealthden.com\/wp\/wp-json\/wp\/v2\/categories?post=263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wealthden.com\/wp\/wp-json\/wp\/v2\/tags?post=263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}