ICICI Prudential Launches New Energy-Focused Mutual Fund

ICICI Prudential Mutual Fund is launching an energy-focused scheme on Tuesday, targeting investment opportunities in oil and gas, bioenergy, and lubricants. Named ICICI Prudential Energy Opportunities Fund, the scheme will be open from July 2 to July 16, aiming for long-term capital appreciation in traditional and new energy sectors.

ICICI Prudential Mutual Fund is set to introduce a new scheme focusing on the energy sector this Tuesday, presenting fresh investment opportunities across various energy domains, including oil and gas, bioenergy, and lubricants.

The ICICI Prudential Energy Opportunities Fund will commence its New Fund Offer (NFO) on July 2 and will be open for subscriptions until July 16, according to the mutual fund house.

'With the transition towards renewable energy and the government's commitment to achieving net-zero emissions, the energy sector offers substantial growth potential,' said ICICI Prudential MF CIO Sankaran Naren. 'This scheme provides investors with access to a diversified portfolio of companies spanning the entire energy value chain.'

The open-ended fund aims to achieve long-term capital appreciation by investing primarily in the equity and equity-related instruments of companies involved in both traditional and emerging energy industries and their allied businesses.

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