ICICI Prudential Mutual Fund introduces fund focused on energy theme

ICICI Prudential Mutual Fund unveiled the introduction of ICICI Prudential Energy Opportunities Fund, a novel equity scheme focusing mainly on investments in the energy sector.

The AMC stated that this strategy focuses on investing mostly in equity and equity-related instruments of companies involved in or benefiting from the growth of both traditional and new energy industries/sectors, along with related businesses, to achieve long-term capital appreciation.

The NFO for ICICI Prudential Energy Opportunities Fund will begin on July 2 and end on July 16, 2024. The fund believes that with energy being a key factor in industrial and economic development, this theme will show strong performance worldwide and within the country.

During the launch event, Sankaran Naren, the fund manager of the offering and ED & CIO of ICICI Prudential AMC, highlighted the importance of energy in driving industrial growth and economic development. The energy sector shows great growth potential due to the government's focus on achieving net-zero emissions and the increasing shift towards renewable energy. Investors can access a varied portfolio of companies in the energy sector through this program. Expanding on assessments and recent progress.

Naren mentioned that even though the Nifty Energy Index has had better performance than the overall market lately, the valuations are still fair, and investors should think about this scheme for the long term.

Sankaran Naren and Nitya Mishra will oversee the scheme, with Nifty Energy TRI as the benchmark. ICICI Prudential Mutual Fund boasts one of India's biggest and most seasoned investment teams. The capable research team supports fund managers with sound investment processes and risk management practices.