ICICI Prudential Mutual Fund resumes subscriptions in three international schemes

ICICI Prudential Mutual Fund has restarted subscriptions in its international schemes from Thursday (July 17). Investors can now invest fresh money through lumpsum, switch-ins, new Systematic Investment Plans (SIPs), or STPs.

The reopened schemes include:

• ICICI Prudential US Bluechip Equity Fund
• ICICI Prudential Nasdaq 100 Index Fund
• ICICI Prudential Strategic Metal and Energy Equity FoF

These schemes had stopped accepting fresh investments in February 2022. The halt was due to limits on overseas investments set for the entire mutual fund industry. Later, SEBI allowed funds to accept new inflows if they had unused headroom under these limits.

This move means investors now have more options to diversify globally. The US Bluechip Equity Fund and Nasdaq 100 Index Fund give exposure to large American companies. The Strategic Metal and Energy FoF offers a chance to tap into global commodities and energy markets.

Investors looking to balance their India-heavy portfolios may find this reopening useful. However, they should watch currency risks and overseas market volatility. Experts advise aligning global funds with long-term goals.

In a separate development, 360 ONE Asset Management has closed its New Fund Offer (NFO) for the 360 ONE Overnight Fund with collections crossing ₹200 crore. The subscription window ran from July 1 to July 9.

The open-ended debt fund invests in overnight securities. It drew interest from corporates, high-net-worth individuals and retail investors seeking low-risk, high-liquidity options for short-term surplus funds.

The fund reopened for ongoing sale and repurchase from July 14. It carries no exit load and allows minimum investments starting at ₹5,000.