Mumbai: ICICI Prudential Mutual Fund has launched the ICICI Prudential Dynamic Asset Allocation Passive Fund of Funds (FoF), a new open-ended scheme designed to dynamically invest in passive equity and debt funds based on changing market conditions. The New Fund Offer (NFO), which opened on August 26, will remain available until September 9, 2026. The equity-debt allocation under the scheme will be determined based on the fund house’s in-house Equity Valuation Index (EVI).
The scheme follows an investment framework called ‘ACTS’, which focuses on simplifying investment decisions, asset allocation and tax efficiency. A key feature of the scheme is that portfolio rebalancing within the fund does not result in a separate tax event for investors. The model-based approach is also designed to reduce the need for investors to independently time the market and make frequent allocation decisions.
The minimum investment amount is ₹1,000. The fund is available under both Regular and Direct Plans with the Growth option. There is no exit load if up to 30 per cent of the units are redeemed or switched out within one year from the date of allotment. However, a 1 per cent exit load will be applicable on units redeemed or switched out beyond 30 per cent within the first 12 months. No exit load will be charged on redemptions after 12 months from the date of allotment. The fund’s benchmark is the CRISIL Hybrid 50+50 – Moderate Index.The fund will be managed by Manan Tijoriwala, Sharmila D’Silva, Manish Banthia, Ritesh Lunawat and Nishit Patel.
