ICICI Prudential has launched its Multi Asset Active FoF.
Unlike equity oriented multi asset funds (which maintainat least 65% in net equity + arbitrage), this FoF has a latitude to allocate anywhere between 30% - 80% in equity, which Dharmesh says he intends to utilize optimally.
Their model suggests an equity allocation of around 55% right now. This will be invested primarily in select I Pru sector and thematic funds, based on the house views across sectors. The idea will be to nimbly move between sectors based on evolving house views from time to time.
After getting their gold and silver bearish call of early 2026 bang on, Dharmesh says the view has now become neutral on gold but not yet so on silver. While the fund can invest between 10-30% in gold and/or silver ETFs, expect the initial allocation to be around 10% in gold ETFs. This clearly will change as and when momentum returns to precious metals.
Debt allocation will be the residual 35% and will be allocated across a range of I Pru debt funds from short term to accrual based strategies to medium and long duration funds, as debt market circumstances warrant.
This new fund offers investors an opportunity to harness all the asset class calls, debt market calls and equity sector/thematic calls – all in a single solution that can nimbly and effectively move in response to house calls taken from time to time.