ICICI Mutual Fund files offer document for iSIF Sector Rotation Long-Short Fund
ICICI Mutual Fund has filed offer document with SEBI to launch pen ended investment strategy named ‘iSIF Sector Rotation Long-Short Fund‘. The New Fund Offer price will be Rs 10 during the NFO. Entry load will be nil. Exit load will be 1% of applicable Net Asset Value -If the amount sought to be redeemed or switched out within 12 months from allotment, and NIL -If the amount sought to be redeemed or switched out after 12 months. The Scheme offers growth option for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance will be benchmarked against NIFTY 500 TRI. The minimum application amount will be Rs 10,00,000 and in multiples of Re.1 thereafter.
The investment objective of the scheme is to generate capital appreciation in long term by predominantly investing in equity and equity related securities including limited short exposure through unhedged derivative positions of maximum four sectors.
