TestCloud
Prep • Practice • Perform
Log In

ICICI Prudential Mutual Fund to Rename Two Equity Schemes from June 16, 2025.

Banking & Finance | Dated: 08 Jun 2025

In June 2025, Mumbai (Maharashtra)-based ICICI Prudential Asset Management Company Limited (ICICI Prudential Mutual Fund) announced the renaming of two equity-oriented Mutual Fund (MF) schemes, effective 16th June 2025, in accordance with the Securities and Exchange Board of India (SEBI)'s directive issued on 27th March 2025. The move aims to standardize scheme names for better investor clarity.

🎯 Key Highlights:

  • - The name of ICICI Prudential Bluechip Fund will be changed to ‘ICICI Prudential Large Cap Fund’.
  • - The name of ICICI Prudential Value Discovery Fund will be changed to ‘ICICI Prudential Value Fund’.

💡 Other Important Facts:

  • (i) An open-ended equity scheme that primarily invests in large-cap stocks. The minimum investment is ₹100 (in multiples of ₹1 thereafter). The fund is managed by Anish Tawakley, Vaibhav Dusad, and Sharmila D'silva.
  • (ii) An open-ended equity scheme that follows a value investing strategy. The minimum investment is ₹1,000 (in multiples of ₹1 thereafter). Fund managers include Sankaran Naren, Dharmesh Kakkad, Masoomi Jhurmarvala, and Sharmila D'silva.
  • (iii) ICICI Prudential Mutual Fund, established in 1993, is a Joint Venture (JV) between ICICI Bank and UK-based Prudential plc.

📚 Test Your Knowledge:

Which mutual fund company announced the renaming of two equity schemes effective June 16, 2025?

Correct Answer: ICICI Prudential Mutual Fund

🚀 Quick Recap: