ICICI Prudential Mutual Fund launches ICICI Prudential Growth Fund Series 3

Mumbai, September 12, 2014: ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Growth Fund - Series 3, a three and half year close ended equity fund that aims to provide capital appreciation by investing in a well-diversified portfolio of equity and equity related securities.

Speaking on the launch of this fund and the thought behind it, Mr. Nimesh Shah, MD & CEO, ICICI Prudential Asset Management Company Ltd. said, “The economic transformation continues with major macroeconomic indicators showing a positive outlook. Macro stability conditions are expected to improve further with the key driver being sustained deceleration in Consumer Price Index Inflation. This pick up in sentiments is likely to actuate revenue growth for companies as Gross Domestic Product growth, demand up tick and profitability of companies have high positive correlation. We believe there is an opportunity available for equity markets with the earnings growth likely to improve going ahead.”

The fund will be managed by Manish Gunwani, Fund Manager who manages funds like ICICI Prudential Focused Bluechip Equity Fund and ICICI Prudential Balanced Advantage Fund to name a few.

There are sufficient reasons to launch Growth Fund- Series 3 at this juncture:

• The economy has turned the corner and is possibly out of the low growth - high inflation cycle. The macro trend so far has been encouraging with key macro indicators like Current Account Deficit (CAD), Balance of Payment (BOP), Inflation and Foreign Institutional Investor (FII) flows showing significant improvement.


• Decline in crude oil prices and recovery in the monsoon is positive for the economy.


• Improvement in industrial production numbers, auto sales growth, durables loan growth and diesel consumption ticking up are all signs of improved sentiments.


• With sentiments improving, demand is expected to pick-up, which is likely to boost revenue growth and profitability of various companies.

The minimum application amount for the fund is Rs 5,000 (plus in multiples of Rs.10)

ICICI Prudential Growth Fund Series- 3

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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About ICICI Prudential AMC:

ICICI Prudential Asset Management Company Ltd. (IPAMC) is a joint venture between ICICI Bank, a leading and trusted name in financial services in India and Prudential Plc, one of United Kingdom’s largest players in the financial services sector.

The company has forged a position of preeminence in the Indian Mutual Fund industry. It is one of the leading Asset Management Company’s contributing significantly towards the development of the Indian Investor and the growth of the Indian mutual fund industry.

From a well - diversified range of investment solutions that cater to all its investors needs to various facilities and services to make investing simpler, ICICI Prudential AMC is always looking to create long-term wealth and value for investors through innovation, consistency and sustained risk adjusted performance. Today, the organization is an ideal mix of investment expertise, resource bandwidth & process orientation. It is always looking to take an extra step to simplify its investor’s journey to meet their financial goals, while ensuring that it maintains pace with rapidly changing technologies.