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ICICI Prudential AMC on Saturday said its recently launched ICICI Prudential Global Stable Equity Fund would invest in units/shares of Nordea 1 - Global Stable Equity Fund – Unhedged, managed by Nordea Asset Management Company.
It is an open-ended fund of funds scheme that seeks to provide adequate returns by investing in the some of the largest global companies that are business leaders in their domain, Himanshu Pandya, Senior Vice President, Products and Communications, said in a press release.
The product will be an opportunity to derive benefit of diversification over markets and sectors, and positive growth projections which have low correlation to Indian equities. This fund seeks to invest in stable companies globally with a view to outperform the market over a full market cycle, with a focus on risk control, he said.
The NFO period, which opened on August 27, will close on September 10. The minimum amount that investors can invest in this fund is Rs 5,000/- plus in multiple of Re.1.
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