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one of the unique funds
ICICI PRUDENTIAL balanced Advantage Fund
(earlier called ‘ICICI Pru Equity – Volatility Advantage Plan’, or ‘ICICI Pru VAP’) has adeptly managed the volatile markets of the last five years to deliver compounded annual returns of 15 per cent. This is better than the benchmark’s (Crisil Balanced Index) return of 10 per cent.
Its performance has pushed it to the spotlight over the last few years. What exactly is this fund’s strategy and how different is it from balanced funds? Read on!
The Fund and its Suitability
is classified as an equity-oriented balanced fund in most places. It seeks to hold at least 65 per cent in equities, like most other balanced funds, and the rest in debt. This fund uses an in-house model, based on a long-term, historical mean Price to Book Value (P/BV), with a view to limit the downside risk during a falling market, while aiming to capture the upside in a rising market. The fund will have the flexibility to hedge its equity positions with derivatives, and also take on derivative positions in the index.
mutual funds is subject to market risk