ICICI Prudential Mutual Fund launches energy theme fund – Check NFO date, key features

financialexpress.com:

ICICI Prudential Mutual Fund on Thursday announced the launch of ICICI Prudential Energy Opportunities Fund, an open-ended equity scheme that will predominantly invest in the energy theme.

This scheme aims to generate long-term capital appreciation by investing predominantly in equity and equity- related instruments of companies engaged in or benefiting from the growth in traditional and new energy industries/sectors, as well as allied businesses, the AMC said in a statement.

ICICI Prudential Energy Opportunities Fund NFO will open on July 2 and close on July 16, 2024.

As energy remains a critical driver of industrial and economic growth, this theme is expected to perform well both globally and domestically, it said.

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The energy theme encompasses a wide range of industries, including oil & gas, bio energy value chain, and lubricants, etc. The scheme has the flexibility to invest across energy value chains.

Speaking at the launch, ED & CIO of ICICI Prudential AMC and the fund manager of the offering, Sankaran Naren, said, “Energy is the cornerstone of industrial growth and economic development. With the ongoing transition towards renewable energy and the government’s focus on achieving net-zero emissions, the energy theme offers significant growth potential. Through this scheme, investors can gain access to a diversified portfolio of companies across the energy value chain.” Adding further on valuations and recent performance.”

“Although Nifty Energy Index has outperformed the broader market recently, the valuations remain reasonable, and investors may consider this scheme from a long-term perspective,” Naren said.

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