ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential India Opportunities Fund, an open ended equity scheme following special situations theme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 26 December 2018 to 09 January 2019.

The investment objective of the scheme is to generate long-term capital appreciation by investing in opportunities presented by special situations such as corporate restructuring, Government policy and/or regulatory changes, companies going through temporary unique challenges and other similar instances.

Presently, two options are available under the scheme viz. growth and dividend option (with dividend payout & dividend reinvestment sub-options).

The scheme will invest 100% - 80% of its assets in Equity & Equity related instruments of special situations theme with high risk profile, invest upto 20% of assets in Other equity and equity related instruments with medium to high risk profile and invest upto 20% of assets in Debt, Units of Mutual Fund schemes, Money market instruments, Cash & Cash Equivalents with low to medium risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.

The minimum additional application amount is Rs 1000 and in multiples of Rs 1 thereafter.

The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period.

Entry load: Not Applicable

Exit load: 1% of applicable Net Asset Value - If the amount, sought to be redeemed or switch out is invested for a period of upto twelve months from the date of allotment.

Nil - If the amount, sought to be redeemed or switch out is invested for a period of more than twelve months from the date of allotment.

The Benchmark for the scheme would be NIFTY 500 Index.

The fund managers of the scheme are Sankaran Naren and Roshan Chutkey. The overseas investments of the Scheme will be managed by Priyanka Khandelwal. Since the Scheme is a new scheme, tenure of fund manager is not available.