ICICI Pru to "grandfather" two FOFs; new investments to stop from January 27
ICICI Prudential Mutual Fund has announced that its Passive Multi Asset Fund of Fund will be closed to fresh investments starting January 27. The decision means new investors will no longer be able to enter the scheme, while existing investors can continue holding their units without disruption. This move effectively “grandfathers” current investments, allowing them to remain invested under the same structure. The fund follows a passive multi-asset strategy, investing across equity, debt, and gold through underlying index funds and ETFs. According to the fund house, the change is part of a strategic review to ensure operational efficiency and regulatory alignment. Investors already in the scheme can still redeem their units as per normal rules. However, no additional purchases, lump sums, or SIP registrations will be accepted after the cutoff date. Market participants are advised to review their portfolios and explore alternative multi-asset options if they were planning fresh exposure.
The Key points
- ICICI Pru Passive Multi Asset FoF closes to new investments.
- Fresh investments stop from January 27.
- Existing investors are fully grandfathered.
- Current holdings remain unaffected.
- Scheme follows a passive multi-asset approach.
- Investments span equity, debt, and gold.
- No new SIPs or lump sums allowed post cutoff.
- Redemptions remain available for investors.
- Decision taken after internal strategic review.
- Investors may consider alternative multi-asset funds.
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