The ICICI Prudential Value Discovery Fund aims to use a combination of capital appreciation and dividends to generate revenue. It is mainly done by investing in a value stock portfolio.

Details of ICICI Prudential Value Discovery Fund – Direct Plan

• Fund Name: ICICI Prudential Mutual Fund
• Scheme Name: ICICI Pru Value Discovery Fund – Direct (G)
• AMC: ICICI Prudential Mutual Fund
• Type: Open
• Category: Equity – Diversified
• Launch Date: 01-Jan-13
• Fund Manager: Mrinal Singh
• Net Assets (Rs. cr): 14728.88
• Minimum application amount: Rs.1, 000
• Minimum additional investment: Rs.500

Exit load- 1.00% – If the amount sought for redemption or withdrawal is invested for a period of up to 12 months from the date of allotment. Nil — if the amount requested is redeemed or switched, more than 12 months are invested from the date of allotment.

NAV Disclosure and Benchmark

The NAV will be calculated by dividing the net assets of the scheme by the number of units outstanding at the valuation date. The NAV of the scheme can be rounded to two decimal places. The NAV of each plan is usually calculated at the end of each business day.

The valuation of assets of the scheme and calculation of NAVs may be subject to audit on an annual basis, with periodic regulations prescribed by SEBI. The benchmark index for that scheme is the benchmark S&P BSE 500 index.

Investment restrictions of ICICI Prudential Value  

For this scheme, the following investment restrictions apply while investing:

• It is not possible to invest more than 10 percent of the NAV in mutual fund schemes on non-monetary market instruments and debt instruments containing money market instruments, which are not classified below the investment grade by the credit rating agency and issued by the single issue has been done. Under the Act, the credit rating agency should have the authority to perform this operation.
• No more than 10 percent of NAV can be invested in unrated debt instruments issued by an issuer through the mutual fund scheme. The total investment should not exceed 25 percent of the scheme’s NAV.
• This scheme can invest in other schemes which are under the same AMC or any other mutual fund, at no charge. This, however, has some restrictions and conditions and will be done only when all the criteria are satisfied.
• Investments in the same mutual fund can be carried from one scheme to another if such a transaction is done at the current market price of the quoted instruments.
• There will be no investment by the scheme in the Fund of Funds scheme.
• The scheme cannot carry forward any loan for any purpose.
• The NAV cannot be invested in more than 5% equity-related instruments, or it is an open-ended scheme in case a mutual fund scheme unlists the equity shares.

When you are investing in mutual funds, the rules applicable from time to time will be followed.