Prudential ICICI Asset Management, the joint venture between insurer Prudential and India's ICICI Bank, has rolled out the Prudential ICICI Fusion Fund.
The fund is a close-ended equity fund focused on stocks across market capitalization and will have a maturity of five years from the date of allotment. Investors will have the choice of a growth option or a dividend option. The minimum investment is INR5000.
Indiainfoline.com quoted managing director Pankaj Razdan as saying, PruICICI Fusion Fund is closed-ended, it will possess an intrinsic advantage on account of our orientation to invest in ‘businesses’ (listed) and not just ‘stocks’. We believe that the PrulCICI Fusion Fund will help us consolidate upon our strength in bottom up research to invest in fundamentally strong companies, ahead of the market.