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Key Highlights

  • Highest ever amount garnered by an actively managed equity fund
  • Over 4 lakh retail investors applied
  • Supported by more than 15000 distributors

The new fund offering from the stable of ICICI Prudential Mutual Fund - Flexi Cap Fund, raised nearly Rs 10000 crore. That’s the highest ever by an actively managed fund. Applications were received by over 4 lakh retail investors and the latest offering from ICICI Prudential Mutual Funds received support from over 15000 distributors. The flexi cap fund will be available for further investments from 17 or 18 July 2021.

The flexi cap category was introduced by the Securities and Exchange Board of India in November last year. It allowed minimum investment in equity & equity related instruments at 65% of total assets. A flexi cap scheme is nn open ended dynamic equity scheme investing across large cap, mid cap, small cap stocks. This category was a result of the restriction imposed on multicap funds to invest a minimum of 25 percent in each of large, small & midcap category of stocks.

The record NFO collection is no surprise given the process oriented approach and robust performance track record the fund house enjoys across asset classes.

The new fund offer was open from 28 June 2021 to 12 July 2021. The presentation showed large cap allocation of 50 – 100 percent while Small & Midcap allocation was pegged between 0 – 50 percent.

Earlier, ICICI Prudential Business Cycle Fund had garnered Rs 4198 crore and Reliance Natural Resources Fund had collected approximately Rs 5600 crore. The new fund offers have amassed Rs 19366 crore so far this year, Association of Mutual Funds in India data showed.

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