ICICI Prudential Passive Multi Asset Fund of Funds Direct Growth

ICICI Prudential Passive Multi Asset Fund of Funds Direct Growth is a hybrid fund. This fund was started on 17 January, 2022. The fund is managed by Manish Banthia, Nishit Patel, Sankaran Naren, Dharmesh Kakkad, Ritesh Lunawat. This fund gives you the benefit of diversification.

1. ICICI Prudential Passive Multi Asset Fund of Funds Direct Growth has ₹1144 Cr worth of assets under management (AUM) as on Dec 1969 and is more than category average.
2. The fund has an expense ratio 0.5.
   

ICICI Prudential Passive Multi Asset Fund of Funds Direct Growth has given a CAGR return of 12.82% since inception. Over the last 1 and 3 years the fund has given a CAGR return of 13.64% and 16.36% respectively.

ICICI Prudential Passive Multi Asset Fund of Funds Direct Growth has allocated its funds majorly in Government, Cash Equivalent, Financial Services, Consumer Defensive, Tech, Basic Materials, Health, Energy, Industrial, Corporate, Consumer Cyclical, Communication, Utilities, Real Estate, Derivatives.

As it is a fund of funds mutual fund the taxation is as follows:
If the fund is equity oriented i.e. asset allocation of more than 65% in equity instruments:
For short term (less than a year) capital gains will be taxed at 20%
For long term (more than 1 year) capital gains will be taxed at 12.5% without indexation benefit
Long term gains up to Rs 1 lakh are exempt from taxation (more than 12 months).

ICICI Prudential Passive Multi-Asset Fund of Funds is a Fund of Funds scheme with the primary objective to generate returns by predominantly investing in passively managed funds launched in India and/or overseas. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Minimum investment for lump sum payment is INR 1000.00 and for SIP is INR 100.00. ICICI Prudential Passive Multi Asset Fund of Funds Direct Growth has no lock in period.