ICICI Prudential MF launches ICICI Prudential Strategic Metal and Energy Equity Fund of Fund

ICICI Prudential Asset Management Company is one of the largest asset managers collaborating with US-based First Trust Advisors LP to offer innovative financial solutions which will launch their global strategy in India. Initially, it will be in the form of ICICI Prudential Strategic Metal & Energy Equity Fund of Fund, which will invest in an offshore fund managed by First Trust Advisors LP. 

The NFO of ICICI Prudential Strategic Metal and Energy Equity Fund of Fund opened for subscription on January 17, 2022, and closes on January 31, 2022. 

The theme of the fund is Global, in which Indian investors are pouring their money in Global funds to diversify their portfolio and investing in companies whose products and services are consumed domestically. The strategy of the fund provides global exposure and also provides diversification by taking exposure to stocks whose performance are dependent on Oil and Gold movement. The strategy is a hedge against potential declines in the Indian Rupee and the Indian economy.

The investment objective of the scheme would be to invest in the First Trust Strategic Metal and Energy Equity UCITS Fund (the “Fund”). The Fund seeks to deliver long-term capital appreciation through investment in a diversified portfolio of global equity securities related to gold and oil. The Fund’s investable universe relates to gold and oil stocks which shall primarily consist of common stocks. These securities will be listed or traded on Regulated Markets worldwide. 

Performance of First Trust Strategic Metal and Energy Equity UCITS Fund against its benchmark: 

*Benchmark – 50 / 50 Blend, Rebalanced on Calendar Quarter Ends of “S&P Oil & Gas Exploration & Production Total Return Index