ICICI Mutual Fund which is also the country’s second largest asset manager. Has now garnered Rs 3,130 crore of investor flows for its new fund offer (NFO). Which will be known as the ICICI Prudential Housing Opportunities Fund.
The Chief Investment Officer of ICICI Prudential Mutual Fund S Naren with Co Fund Manager Anand Sharma will be responsible for the investment in various sectors. S Naren is known for his Marco and business investment calls.
Given the name, this fund will be investing in broader stocks other than real estate stocks. This will makes this mutual fund in particular as an investing opportunity .
Based on investment research the fund manager will go for allied sectors too.
The fund will be planned with a diverse portfolio. As it invests in companies that belong to different sectors. Which could lead to higher returns benefit. From the growth of the housing market. Also, the fund will have its major focus on financial service companies. As well as construction, home loan companies, consumer goods, power, metals, cement etc.
Moreover, HDFC Housing Opportunities Fund is the only fund in the same category.
Pause on NFOs
ICICI Prudential Housing Opportunities Fund was launched way before SEBI had directed holding off any new fund launches till June end. Till the pool account is discontinued.
ICICI Prudential Housing Opportunities Fund will be measured against the Nifty Housing Index. Which is a newly launched index by the NSE.
Though it has received a huge investor flow. Lest, looking at the track records of the ICICI Prudential Fund could not deliver promised results.