ICICI Prudential launches energy opportunities fund: Open for subscription until July 16, 2024

By Moneynomical Newsdesk On July 6, 2024, 17:46 pm IST

ICICI Prudential Mutual Fund has introduced the ICICI Prudential Energy Opportunities Fund, an open-ended equity scheme focused on the energy sector. The fund opened for public subscription on July 2, 2024, and will remain open until July 16, 2024. The scheme will re-open for continuous sale and repurchase within five business days from the date of allotment.

Key features of ICICI Prudential energy opportunities fund

Investment theme: Focuses on traditional and new energy sectors, along with allied business activities
Objective: Long-term wealth creation through investments in companies benefiting from growth in the energy sector
Eligibility: Suitable for investors looking for long-term capital appreciation

The scheme aims to provide opportunities for long-term capital appreciation by investing in equity and equity-related instruments of companies involved in exploration, production, distribution, transportation, and processing of traditional and new energy. Sectors include oil & gas, utilities, and power.

Investment details

Minimum investment: ₹5000 per plan/option, with increments of Re 1
No upper limit: Investors can invest any amount
Benchmark: Nifty Energy TRI Index, comprising companies from petroleum, gas, and power sectors
Entry load: None
Exit load: 1% if redeemed or switched out within three months from the date of allotment. Nil if redeemed or switched out after three months from the date of allotment.
Risk factor: The scheme is categorized as “Very High Risk.” Investors should consult financial advisors to ensure suitability.
Subscription details: Public Subscription Period: July 2, 2024 – July 16, 2024.
Continuous sale and repurchase: Re-opens within five business days from the allotment date.

For more information, investors can refer to the Scheme Information Document and consult with financial advisors to assess the suitability of this high-risk, high-reward investment opportunity.