ICICI Prudential Mutual Fund has changed the fundamental attribute of ICICI Prudential Commodities Fund. The scheme may also invest in units of Silver ETFs in addition to the existing asset classes. ICICI Prudential Commodities Fund invests in multiple asset classes like equity, debt, gold ETFs, and REITs among others.
The changes will be effective from May 6, 2024. The fund house informed the unit holders through a notice-cum-addendum.
After the proposed changes, the scheme will allocate 80-100% in equity and equity-related instruments of companies engaged in commodity and commodity-related sectors, 0-20% in other equity and equity-related instruments, 0-20% in debt, units of debt mutual fund schemes and money market instruments, 0-10% in units issued by REITs and InvITs, and 0-20% in Gold ETFs/Silver ETFs/ other asset classes as may be permitted by Sebi from time to time (subject to applicable Sebi limits).
The primary investment objective of the scheme is to generate long-term capital appreciation by creating a portfolio that is invested predominantly in equity and equity-related securities of companies engaged in commodity and commodity-related sectors. The scheme will invest in companies classified under ‘Commodities’ as per industry classification issued by AMFI from time to time.