ICICI Prudential Infrastructure Fund
If you are looking for a particular sector wise fund, and with the current booming scenario in infracture development in India, this fund the ICICI Prudential Infrastructure Fund could just be the one that you were looking for as it is said to be the India’s best performing fund in the category of Infrastructure. It is an equity diversified (sector) fund with its sector hold mostly on the infrastructure companies and companies that has primary business surrounding infrastructure. It is an open-ended scheme from ICICI Prudential AMC.
Introduction: It is being managed by the fund manager, Mr. Sankaran Naren. It was launched on August 31, 2005.
Awards: It was voted with 5 stars by Value Research as on May 31, 2009. As said above it was awarded with the best infrastructure fund in India based upon the returns of 3 years and this was ranked by Lipper in 2009. It also won the award in the equity diversified funds category from Crisil Mutual Funds awards in 2008. It was also ranked with 5 stars by ICRA Online.
Objective: Its main objective is to invest in equity and equity related instruments of the companies which belongs to the infrastructure development companies and the rest in debt securities as well as money market.
Total Assets: Rs. 3869 crores (as on February 28, 2010).
Entry and Exit Load: No entry load but exit load is applicable if exited within 1 year, else nil.
Minimum Investment: Rs. 5000 and in multiples of Rs. 500 thereafter. SIP option is available. Minimum SIP amount is Rs. 1000.
Investment Options: Both Growth and Dividend (reinvestment and payout) as well as institutional investment.
Latest NAV: For ICICI Prudential Infrastructure Fund – Growth as on March 22, 2010 is Rs. 28.66. For the Dividend option, the NAV is Rs. 12.02.
If you are looking solely to diversify your investment and can digest extra risk and don’t mind investing sector funds, then ICICI Prudential Infrastructure Fund can be ideal for you. Although it is not always advisable to go for sector based fund as the first step if you have not touched diversified or hybrid funds at all, as the risk in such similar funds are much more higher than diversified or the balanced funds.
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