Highlights
- ICICI Prudential Value Fund is a 3 year close ended scheme of focused 25-30 high conviction stocks#
- The fund will invest in good quality companies available at a discount to their true value.
- The focused approach of investing in a limited number of stocks will allow the scheme to benefit from potential price movements
- ICICI Prudential has an existing track record of managing Value Oriented Funds (ICICI Prudential Discovery Fund also follows value investing philosophy and has a track record of 9 years).
- Past experience has shown that investors have earned returns when investments are made in periods of low GDP growth. Such a similar situation exists today.
- Value is a far bigger theme than any other theme in prevailing market conditions.
- The portfolio will be co-managed by Mr. S Naren, CIO and Mr. Mittul Kalawadia, Fund Manager.
Mumbai, October 18, 2013: ICICI Prudential Asset Management Company, one of India’s largest AMCs, has announced the launch of ICICI Prudential Value Fund Series Fund 1, a close ended equity fund that focuses on investing in stocks that trade at a discount to their true value.
The fund aims at adopting the ‘value investing’ approach where low priced stocks with justifiable higher fundamentals are identified and invested in with the aim of long – term capital appreciation.
Speaking on the launch of this fund and the thought behind it, Mr. Nimesh Shah, MD & CEO, ICICI Prudential Asset Management Company said, “Value investing, one of the most popular investment themes globally, is a far bigger theme than any other opportunity in India in prevailing market situation. This is mainly on account of four reasons (1) sharp valuation dispersion among sectors and market cap segments, (2) a number of 'under-noticed' value opportunities thrown up due to the currency volatility, (3) earnings upsides through incrementally higher capacity utilization across many sectors and (4) investing at a cyclical low in terms of GDP growth. Besides these four reasons, domestic challenges, the most compelling one of which is continuation of the reforms process, will crystallize post the 2014 union elections. The positive aspect to the elections in terms of reforms is that both parties, the current government in rule and the opposition, have understood that reforms have to continue in order for the country to retain and nurture foreign interest in the form of FDI and other investment inflows. Hence, using the value strategy in the current scenario makes further compelling sense. A close ended fund like the new ICICI Prudential Value Fund Series 1 is well positioned to capture this opportunity for investors”.
For further information please contact:
| Adil Bakhshi Head - Corporate Communication Direct line: (91.22) 4238 0274 Email Id: adil_bakhshi@icicipruamc.com RadiancePublic Relations Pvt. Ltd. vinay@radiancepublicrelations.com Mobile: 09219506887 | Bhushan Parab Assistant Manager - Corporate Communication Direct line: (91.22) 4238 0251 Email Id: bhushan_parab@icicipruamc.com
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| This product is suitable for investors who are seeking*: |
| • Long term wealth creation solution • A close-ended diversified equity fund that aims to provide capital appreciation by investing in a well diversified portfolio of stocks through fundamental analysis. |
| * Investors should consult their financial advisers if in doubt about whether the product is suitable for them. |
#The number of stocks provided is to explain the investment philosophy and the actual number may go up or down depending on the prevailing market conditions at the time of investment.
Disclaimer: In the preparation of the material contained in this document, the AMC has used information that is publicly available, including information developed in-house. Some of the material used in the document may have been obtained from members/persons other than the AMC and/or its affiliates and which may have been made available to the AMC and/or to its affiliates. Information gathered and material used in this document is believed to be from reliable sources. The AMC however does not warrant the accuracy, reasonableness and / or completeness of any information. We have included statements / opinions / recommendations in this document, which contain words, or phrases such as “will”, “expect”, “should”, “believe” and similar expressions or variations of such expressions, that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements due to risk or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our services and / or investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices etc.
The AMC (including its affiliates), the Mutual Fund, the trust and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liable for any decision taken on this material.
The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). Past performance may or may not be sustained in the future. The portfolio of the scheme is subject to changes within the provisions of the Scheme Information document of the scheme. Please refer to the SID for investment pattern, strategy and risk factors.
Investors are advised to consult their own legal, tax and financial advisors to determine possible tax, legal and other financial implication or consequence of subscribing to the units of ICICI Prudential Mutual Fund.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
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