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ICICI Prudential Indo Asia Equity Fund

September 12, 2007

ICICI Prudential Indo Asia Equity Fund is a diversified equity scheme designed to invest predominantly in equity & equity related securities with 65% or more directly into Indian equities across market capitalizations [Flexicap], and up to 35% in Asian Equity Fund. It is an open ended equity fund managed by Prudential Asset Management, Singapore.

What is the Rationale behind launching such a Fund ?
Nilesh Shah of ICICI said that India is a great economic growth story amongst Asian countries. China is another which has some complementing industries to India. For instance, the semiconductor industry is absent in India. To cash in on such opportunities, this fund will look to invest in semiconductor stocks available elsewhere in the Asian region. Also 7 of the top 10 fastest growing global economies are in Asia.

Long Term investors can take exposure in this fund. We also advise for SIP and lump sum averaging if the fund provides an opportunity. Most Asian fund managers don’t see any big correction in the indices here.

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