ICICI Prudential Asset Management Company is changing the names and category of few of its mutual funds. Mutual funds of many Asset Management Companies are being changed after a recent circular by Securities and Exchange Board of India. This move by the regulator to make investing simpler for investors.
The new rule states that every mutual fund company can only have one mutual fund offering under each category.
In this article
- ICICI Prudential Mutual Fund Name & Category Changes
- ICICI Prudential Mutual Fund Names Changed: What should Investors do?
- Why are ICICI Prudential Mutual Fund Names and Categories Changing?
ICICI Prudential Mutual Fund Name & Category Changes
Few ICICI Prudential Mutual Fund names are changing, few are being merged, and few funds are being recategorized.
ICICI Prudential Mutual Fund Name And Category Changes
This table contains the names of the ICICI Prudential Mutual Funds whose names have changed:
|Old Name||New Name||Old Category||New Category|
|ICICI Prudential Balanced Advantage Fund||ICICI Prudential Balanced Advantage Fund||Dynamic/Asset Allocation-Dynamic Asset Allocation|
Hybrid-Dynamic Asset Allocation
|ICICI Prudential Balanced Fund||ICICI Prudential Equity & Debt Fund||Hybrid-Equity Oriented|
|ICICI Prudential Banking & PSU Debt Fund||ICICI Prudential Banking & PSU Debt Fund||Debt-Short Term|
Debt-Banking & PSU
|ICICI Prudential Banking and Financial Services Fund||ICICI Prudential Banking and Financial Services Fund||Equity-Sector|
|ICICI Prudential Child Care Plan Study||Merged with ICICI Prudential Child Care Fund (Gift Plan)||Hybrid-Debt Oriented|
|ICICI Prudential Constant Maturity Gilt Fund||ICICI Prudential Constant Maturity Gilt Fund||Gilt-Long Term|
Debt-Gilt 10 Year
|ICICI Prudential Corporate Bond Fund||ICICI Prudential Medium Term Bond Fund||Debt-Income|
|ICICI Prudential Dividend Yield Equity Fund||ICICI Prudential Dividend Yield Equity Fund||Equity-Mid Cap|
|ICICI Prudential Dynamic Bond Fund||Merged with ICICI Prudential Banking & PSU Debt Fund||Debt-Income|
|ICICI Prudential Dynamic Plan||ICICI Prudential Multi-Asset Fund||Equity-Multi Cap|
Hybrid-Multi Asset Allocation
|ICICI Prudential Equity Income Fund||ICICI Prudential Equity Savings Fund||Equity-Arbitrage|
|ICICI Prudential Flexible Income Plan||ICICI Prudential Savings Plan||Debt-Ultra Short Term|
|ICICI Prudential FMCG Fund||ICICI Prudential FMCG Fund||Equity-Sector|
|ICICI Prudential Focused Bluechip Equity Fund||ICICI Prudential Bluechip Equity Fund||Equity-Large Cap|
|ICICI Prudential Gilt Fund – Treasury Plan – PF Option||Merged with ICICI Prudential Gilt Fund||Gilt-Short Term||Debt-Gilt|
|ICICI Prudential Income Fund||ICICI Prudential Long Term Bond Fund||Debt-Income|
|ICICI Prudential Income Opportunities Fund||ICICI Prudential Bond Fund||Debt-Income|
Debt-Medium to Long Duration
|ICICI Prudential Indo Asia Equity Fund||ICICI Prudential Small Cap Fund||Equity-Global|
|ICICI Prudential Infrastructure Fund||ICICI Prudential Liquid Fund||Equity-Sector|
|ICICI Prudential Liquid Plan||ICICI Prudential Liquid Fund||Liquid-Liquid||Debt-Liquid|
|ICICI Prudential Long Term Plan||ICICI Prudential All Seasons Bond Fund||Debt-Income|
|ICICI Prudential MIP||Merged with ICICI Prudential Regular Savings Fund||Debt-MIP|
|ICICI Prudential MIP 25||ICICI Prudential Regular Savings Fund||Debt-MIP|
|ICICI Prudential Money Market Fund||ICICI Prudential Money Market Fund||Liquid-Liquid|
|ICICI Prudential Nifty Index Fund||ICICI Prudential Nifty Index Fund||Equity-Index||Others-Index|
|ICICI Prudential Nifty Next 50 Index Fund||ICICI Prudential Nifty Next 50 Index Fund||Equity-Index||Others-Index|
|ICICI Prudential Regular Gold Savings Fund||ICICI Prudential Regular Gold Savings Fund||Gold-Fund of Funds|
|ICICI Prudential Regular Income Fund||ICICI Prudential Ultra Short Term Fund||Debt-MIP|
Debt-Ultra Short Duration
|ICICI Prudential Regular Savings Fund||ICICI Prudential Credit Risk Fund||Debt-Income|
|ICICI Prudential Savings Fund||ICICI Prudential Floating Interest Fund||Debt-Ultra Short Term||Debt-Floater|
|ICICI Prudential Savings Plan||ICICI Prudential Floating Interest Fund||Debt-Ultra Short Term||Debt-Floater|
|ICICI Prudential Select Large Cap Fund||ICICI Prudential Focused Equity Fund||Equity-Large Cap|
|ICICI Prudential Sensex Index Fund||ICICI Prudential Sensex Index Fund||Equity-Index||Others-Index|
|ICICI Prudential Short Term Gilt Fund||Merged with ICICI Prudential Gilt Fund||Debt-Gilt||Debt-Gilt|
|ICICI Prudential Short Term Income Plan||ICICI Prudential Short Term Fund||Debt-Short Term|
|ICICI Prudential Top 100 Fund||ICICI Prudential Large & Mid Cap Fund||Equity-Multi Cap|
Equity-Large & Mid Cap
|ICICI Prudential Ultra Short Term Plan||ICICI Prudential Corporate Bond Fund||Debt-Ultra Short Term|
|ICICI Prudential US Bluechip Equity Fund||ICICI Prudential US Bluechip Equity Fund||Equity-Global Funds|
|ICICI Prudential Value Discovery Fund||ICICI Prudential Value Discovery Fund||Equity-Diversified||Equity-Value|
ICICI Prudential Mutual Fund Names That Have Not Changed
|Old Name||New Name||Old Category||New Category|
|ICICI Prudential Equity Arbitrage Fund||ICICI Prudential Equity Arbitrage Fund||Hybrid-Arbitrage|
|ICICI Prudential Exports and Other Services Fund||ICICI Prudential Exports and Other Services Fund||Equity-Sector|
|ICICI Prudential Long Term Equity Fund (Tax Saving)||ICICI Prudential Long Term Equity Fund (Tax Saving)||Equity-Tax – ELSS||Equity-ELSS|
|ICICI Prudential Gilt Fund||ICICI Prudential Gilt Fund||Debt-Gilt||Debt-Gilt|
|ICICI Prudential MidCap Fund||ICICI Prudential Midcap Fund||Equity-Mid Cap|
|ICICI Prudential Multicap Fund||ICICI Prudential Multicap Fund||Equity-Multi Cap|
|ICICI Prudential Technology Fund||ICICI Prudential Technology Fund||Equity-Sector|
ICICI Prudential Mutual Fund Names Changed: What should Investors do?
If Mutual Fund Name & Category Has Changed
If there is a change in category, an investor might have to change his strategy of investment in these funds. These extreme changes are largely in equity mutual funds. Debt funds category names have changed too but there is not much difference in their investment style.
If an investor is confused, he should contact his mutual fund advisor for his advice on this issue.
If Mutual Funds Are Being Merged
If mutual funds are being merged, investors should not worry as the Asset Management company will take care of the merger. Since in the mergers, there is no real change in category, so investors need not make any changes to his investment strategy.
If Only Mutual Fund Name Has Changed
If only the name of the mutual fund scheme has changed, then there is no need to be concerned or do anything. Investors can simply continue investing as they already were.
Why are ICICI Prudential Mutual Fund Names and Categories Changing?
There are many mutual funds offered by different Asset Management Companies. Many of these are in effect duplicates of each other. Further, they also have names that might confuse and intimidate a new investor.
Keeping this in mind, the Securities Exchange Board of India has decided to recategorize mutual fund schemes. It has also made compulsory that each Asset Management Company can only have one mutual fund under each category.
Thus, all Asset Management Companies are renaming, recategorizing, and merging mutual funds to comply with this directives by the regulator.
To see the best mutual funds to invest from every category, see: The 30 Best Mutual Funds to Invest in 2018 – Groww 30.
Disclaimer: the views expressed here are of the author and do not reflect those of Groww.