ICICI Prudential Innovation Fund NFO Review, Offer Details

ICICI Prudential Innovation Fund NFO

Updated on 17 Oct, 2023

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ICICI Prudential Mutual Fund is launching a new thematic fund, ICICI Prudential Innovation Fund, that seeks to invest across companies that benefit from innovation strategies.

The New Fund Offer (NFO) period for the ICICI Prudential Innovation Fund is from 10th April 2023 to 24th April 2023. The scheme re-opens for continuous repurchase and sale within 5 business days from the date of allotment.

Investment Objective:

ICICI Prudential Innovation Fund is an open-ended thematic fund. The scheme aims to generate long-term capital appreciation by predominantly investing in equity & equity-related securities of companies and units of global mutual funds/ETFs that can benefit from innovation strategies and themes. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved.

ICICI Prudential Innovation Fund

Fund Name	ICICI Prudential Innovation Fund
NFO Opening Date	10th April 2023
NFO Closing Date	24th April 2023
Re-open Date	Within 5 business days from the date of allotment
Type of Fund	Thematic Fund
Fund Manager	Mr Anish TawakleyMr Vaibhav DusadMs Sharmila D’mello (overseas investments)
Minimum Investment Amount	INR 5000
Minimum Additional Purchase Amount	INR 1000
Exit Load	0-1%
Suitability	Very High Risk
Benchmark	Nifty 500 TRI
Plans and Options	Direct and Regular PlanGrowth and Income Distribution cum Capital Withdrawal (IDCW) Option

NOTE:

All additional investment amounts should be multiple of INR 1/-
The minimum SIP/SWP/STP for monthly frequency is INR 100/-

Who Can Invest in ICICI Prudential Innovation Fund NFO?

ICICI Prudential Innovation Fund is a thematic fund that invests in companies that benefit from innovation strategies and themes. Innovation is anything that proposes alternatives to existing products or services and aims to bring sustainable change and economic benefits. Innovation requires research and time, and benefits may be seen over the long term. The Scheme aims to invest in companies at the research, pre-launch, testing, experimental, launch, or post-launch stages of a product, service, process, or solution.

Since it’s a theme-based fund, investors must be well aware of the associated risks. Therefore, investors seeking exposure to an equity scheme that focuses on innovation as a theme and have high-risk tolerance levels can consider investing in the scheme. Investing in a theme makes the portfolio highly volatile. Thus, this is a high-risk investment. Therefore, investors must be well aware of the associated risks. Investing in a thematic fund requires a minimum investment horizon of 5 years or more.

Fund Manager

Mr Anish Tawakley

Mr. Anish Tawakley is a Fund Manager & Head of Research at ICICI Prudential AMC. With an overall work experience of more than two decades, Mr. Tawakley has gathered an expertise in capital markets and strategic consulting. Earlier, he was associated with major organizations such as Barclays, McKinsey, Bernstein, Credit Suisse in various leadership positions. He holds a Post Graduate Diploma in Management from the Indian Institute of Management, Bangalore. He is also a B.Tech. from the Indian Institute of Technology, Delhi.

Mr Vaibhav Dusad

Mr Vaibhav has more than 14 years of experience in investing in Indian equity markets and tracking multiple sectors like IT Services, Internet, Telecom, Healthcare, Pharma, Textile, and Business Services. Prior to joining ICICI Prudential AMC Ltd. He has also worked with Morgan Stanley, HSBC Global Banking and Markets, CRISIL, Zinnov Management Consulting, and Citibank Singapore. Mr Vaibhab Dusad has done B.Tech., M.Tech., and MBA.

Ms Sharmila D’mello

Ms Sharmila is currently the Co-Fund Manager at ICICI Prudential AMC. She joined the company in 2016. She is a Chartered Accountant and also holds a Bachelor’s in accounting and finance and a Post Graduate Degree from St Joseph’s College of Commerce.

Popular Funds by ICICI Prdential Mutual Fund

Asset Allocation

Types of Instruments	Minimum Allocation	Maximum Allocation	Risk Profile
Equity & Equity related securities of companies adopting innovation strategies and themes & Overseas Securities adopting innovation strategies and themes	80%	100%	Very High
Other Equity & Equity related instruments	20%	0%	Very High
Debt & Money market instruments	20%	0%	Low to Medium
REITs and InvITs	10%	0%	Low

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Frequently Asked Questions

How Can I Invest in the ICICI Prudential Innovation Fund?

You can invest in the ICICI Prudential Innovation Fund through any of the following methods:
Offline: By filling out the ICICI Prudential NFO application and submitting it along with all documents and cheques to the nearest Investor Service Centre of CAMS or ICICI Prudential mutual fund office.
Online:
ICICI Prudential Mutual Fund Website
Online FinTech platforms and mutual fund platforms
Through Demat account
Through a mutual fund distributor or agent

Is ICICI Prudential Innovation Fund risky?

Yes, it is a very high-risk investment based on the riskometer. ICICI Prudential Innovation Fund is a theme-based fund that invests in companies that benefit from innovation strategies and themes.

Is there a lock-in period for ICICI Prudential Innovation Fund?

No, the ICICI Prudential Innovation Fund has no lock-in period.

When will the scheme open for ongoing subscriptions, switches and redemptions?

The ICICI Prudential Innovation Fund scheme re-opens for ongoing subscriptions, switches and redemptions within 5 business days from the date of allotment.