ICICI Prudential Asset Management Company announced the launch of a fund which would collect money from Indian investors to invest in a global equity fund managed by Nordea Asset Management Company.
The fund is open from 27th August to 10th September and has a minimum ticket size of Rs.5000.
Nimesh Shah, managing director and chief executive officer at ICICI Prudential Asset Management Company said the fund is aimed at capitalising on a global recovery.
“Global economies are on the path to recovery; global equities are currently available at reasonable valuations to the investors. With this context, the Indian investor can choose to make attractive global assets a part of their portfolio. The idea behind the launch of ICICI Prudential Global Stable Equity Fund is to provide an opportunity to Indians to invest in a global product that provides them access to investing into stable companies across the globe.”
Allan Polack, chief executive officer at Nordea Asset Management Company suggested that the fund would be a good way for Indians to diversify their portfolios.
“Indian equities represent about 2% of the world’s equity assets leaving 98% of the pie as untapped potential for Indian investors. With this product, Indians have the chance to participate in the global equities that focus on stable business acumen. It is an exciting opportunity for Indians to really be a part of the global growth stories.”
