ICICI Prudential Mutual Fund launches rural opportunities fund NFO
ICICI Prudential Mutual Fund has announced the launch of the ICICI Prudential Rural Opportunities Fund, an open-ended equity scheme focused on rural and allied sectors.
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The New Fund Offer (NFO) will open for subscription on January 9 and close on January 23.
The scheme will primarily focus on sectors that contribute to and benefit from the growth and development of rural India. Its goal is to generate long-term wealth by primarily investing in equity and equity-related instruments of companies engaged in rural and allied sectors.
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“Rural India is the next theme that could have a transformational impact in the next decade. Driven by structural and cyclical economic factors and the increased focus of many state governments on rural development through various initiatives, this segment is likely to play a key role in contributing to economic growth. Our new scheme aims to leverage these developments, offering investors a chance to partake in India’s rural growth story,” said Sankaran Naren, ED and CIO of ICICI Prudential AMC.
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