Business Daily from THE HINDU group of publications
Thursday, Apr 10, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Apr 10, 2008 ePaper | Mobile/PDA Version |
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Markets
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New Fund Offer Our Bureau Mumbai, April 9 ICICI Prudential AMC has launched an open-ended equity scheme called the ICICI Prudential Focused Equity Fund. The fund aims to maximise long-term capital appreciation by investing in equity and equity-related securities of about 20 companies. The fund’s stock picking universe will comprise top 200 companies in terms of market capitalisation from the companies listed on the National Stock Exchange. The scheme seeks to capture the best opportunities that the market presents, without any sector bias. The new fund offer, which opened on April 8, closes on May 7. “Diversification in equity funds plays a key role in mitigating the risks. However, excessive diversification also runs the risk of diluting the potentially higher returns. It is thus critical that the number of stocks in a fund is restricted to achieve optimal diversity. This fund has been structured using this key insight to provide the investors with the possibility of high returns through limited risk,” said Mr Nimesh Shah, Managing Director, ICICI Prudential Asset Management Company Ltd. The portfolio could take exposure to any particular theme and has the flexibility to choose between stocks across themes, sectors and investment styles, said the press release. More Stories on : New Fund Offer | Mutual Funds
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