ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential India Recovery Fund- Series 2, a 3.5 year close ended equity fund that aims to provide long-term capital appreciation by taking exposure in stocks/sectors that are more levered to the economy and are likely to grow at a fast pace.
The new fund offer (NFO) opens for subscription from March 18 to April 01, 2015. The new fund offer price for the scheme is Rs 10 per unit.
Nimesh Shah, managing director & chief executive officer said, "ICICI Prudential Asset Management Company said, "India is positioned towards the recovery trajectory with improvement in macro-economic indicators, uptick in business sentiment, government's focus on new & existing projects and thrust on reforms. We believe the economy has reached the inflection point and is expected to move into a high growth phase over the next 3 to 5 years."