The Hindu Business Line : ICICI Prudential lines up 2 more funds

Ahmedabad, Aug. 24 ICICI Prudential Asset Management Company Ltd, which launched the Indo-Asia Fund on Thursday, is preparing to launch two more funds in the next couple of months.

“We have lined up these funds, to be possibly launched around October this year,” Mr Nilesh Shah, Deputy Managing Director and Chief Investment Officer, said here on Friday.

He told reporters that the company has already filed the prospectus with the Securities and Exchange Board of India (SEBI) for its proposed Fixed Maturity Fund. It is also doing research and preparing to file the prospectus in respect of the Fusion-3 Fund, on lines of a quasi-private equity fund.

ICICI is waiting for SEBI’s nod to its Gold ETF for which it had filed papers last year, he added.

About the Gold ETF, Mr Shah said the experience of other similar funds has not been very satisfactory as many investors preferred more liquidity, which is not available due to inadequate trading under these funds.

“There are certain queries from SEBI in this regard, to which we are going to reply,” he said.

Mr Shah said that in the current volatile market conditions, investment opportunities were better in sectors like technology, banking and financial services, and healthcare.

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