April 21, 2023
mayank
ICICI Prudential Innovation Fund NFO
NFO opens on April 10, 2023
NFO will close on April 24, 2023
(Our detailed Guidance is given at the bottom of the Page)
Investment Strategy
The scheme seeks 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 theme.
Basic Details
| Fund House | ICICI Prudential Mutual Fund |
| Issue Open | 10 April 2023 |
| Issue Close | 24 April 2023 |
| Type | Open-ended |
| Category | Equity: Thematic |
| Min. Investment(Rs) | 5,000 |
| Plans | IDCW, Growth |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 360 days |
| Riskometer | Very High |
| Benchmark | NIFTY 500 TRI |
About Benchmark Index
The Nifty 500 index represents top 500 companies selected based on full market capitalization from the eligible universe.
Nifty 500 Index is computed using free float market capitalization method, wherein the level of the index reflects the total free float market value of all the stocks in the index relative to particular base period. Nifty 500 can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variants: Nifty 500 Total Returns Index, Nifty500 Industry Indices.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | -6.02 | -6.02 | 1.47 | 9.41 | 9.96 |
| Total Return | -5.93 | -5.93 | 2.58 | 10.66 | 11.69 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 15.14 | 18.77 | 22.75 |
| Beta (NIFTY 50) | 0.97 | 0.96 | 0.93 |
| Correlation (NIFTY 50) | 0.98 | 0.99 | 0.95 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 21.21 | 3.82 | 1.44 |
Fund Manager
1) Anish Tawakley
Education: Mr. Tawakley has done PGDM (MBA) from IIM Bangalore and B. Tech (Mechanical Engineering) from IIT Delhi
Experience: Prior joining to ICICI AMC he has worked with Barclays India – Equity Research, Credit Suisse India – Equity research – Indian financial services sector.
Past Performance of his Schemes
| Fund | ICICI Prudential Manufacturing Fund | It’s Benchmark | ICICI Prudential Business Cycle Fund | It’s Benchmark |
| 1 Year | 6.84 | -0.58 | 5.49 | -0.58 |
| 3 Year | 32.38 | 26.58 | — | — |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
2) Vaibhav Dusad
Education: Mr. Dusad has done B.Tech, M.Tech and MBA
Experience: Prior to joining ICICI Prudential AMC Ltd, he has worked with Morgan Stanley, HSBC Global Banking and Markets, CRISIL, Zinnov Mangement Consulting and Citibank Singapore.
Past Performance of his Schemes
| Fund | ICICI Prudential Technology Fund | It’s Benchmark | ICICI Prudential Exports and Services Fund | It’s Benchmark |
| 1 Year | -17.43 | -17.92 | 4.03 | -0.58 |
| 3 Year | 43.67 | 36.48 | 28.39 | 26.58 |
| 5 Year | 20.66 | 20.56 | 10.56 | 11.34 |
| 7 Year | 18.58 | 16.96 | 11.91 | 14.22 |
| 10 Year | 19.80 | 17.51 | 16.98 | 13.54 |
AMC:
ICICI Prudential Asset Management Company Ltd
Address: One BKC , A Wing , 13th Floor, Bandra Kurla Complex, Mumbai – 400051
Website: http://www.icicipruamc.com
Registrar & Transfer Agent:
Computer Age Management Services Ltd.
Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai – 600002
Website: www.camsonline.com
Guidance for ICICI Prudential Innovation Fund NFO by Paresh Gordhandas, C.A., Research Analyst.
This scheme aims to invest in equity and equity related instruments that can benefit from innovation strategies and theme. This is novel concept and if the innovation strategy succeeds (e.g. Tesla or Apple etc.), the investment can fetch bumper returns. Its benchmark is Nifty 500 index, but it has no relevance, since investment in Innovation themes cannot be benchmarked to any index. It may bring bumper returns, or you may lose the money. Past performance of the fund managers is okay/not so bad.
Identifying innovative ideas require special skills and also very indepth study of different fields. Since we do not know whether the fund managers have any such skills to identify such innovative ideas and whether such innovators are listed or not, we strongly suggest that You may invest very small amount, in this new concept.
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