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.

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
Hybrid-Aggressive
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
Equity-Sectoral/Thematic
 ICICI Prudential Child Care Plan Study Merged with ICICI Prudential Child Care Fund (Gift Plan) Hybrid-Debt Oriented
Solution Oriented-Children’s
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
Debt-Medium Duration
ICICI Prudential Dividend Yield Equity Fund ICICI Prudential Dividend Yield Equity Fund Equity-Mid Cap
Equity-Dividend Yield
ICICI Prudential Dynamic Bond Fund Merged with ICICI Prudential Banking & PSU Debt Fund Debt-Income
Debt-Dynamic
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
Hybrid-Equity Savings
ICICI Prudential Flexible Income Plan ICICI Prudential Savings Plan Debt-Ultra Short Term
Debt-Low Duration
ICICI Prudential FMCG Fund ICICI Prudential FMCG Fund Equity-Sector
Equity-Sectoral/Thematic
ICICI Prudential Focused Bluechip Equity Fund ICICI Prudential Bluechip Equity Fund Equity-Large Cap
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
Debt-Long Duration
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
Equity-Small Cap
ICICI Prudential Infrastructure Fund ICICI Prudential Liquid Fund Equity-Sector
Equity-Sectoral/Thematic
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
Debt-Dynamic
ICICI Prudential MIP Merged with ICICI Prudential Regular Savings Fund Debt-MIP
Hybrid-Conservative
ICICI Prudential MIP 25 ICICI Prudential Regular Savings Fund Debt-MIP
Hybrid-Conservative
ICICI Prudential Money Market Fund ICICI Prudential Money Market Fund Liquid-Liquid
Debt-Money Market
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
Others-FoF Domestic
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
Debt-Credit Risk
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
Equity-Focused
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
Debt-Short Duration
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
Debt-Corporate Bond
ICICI Prudential US Bluechip Equity Fund ICICI Prudential US Bluechip Equity Fund Equity-Global Funds
Equity-Sectoral/Thematic
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
Hybrid-Arbitrage
ICICI Prudential Exports and Other Services Fund ICICI Prudential Exports and Other Services Fund Equity-Sector
Equity-Sectoral/Thematic
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
Equity-Mid Cap
ICICI Prudential Multicap Fund ICICI Prudential Multicap Fund Equity-Multi Cap
Equity-Multi Cap
ICICI Prudential Technology Fund ICICI Prudential Technology Fund Equity-Sector
Equity-Sectoral/Themati

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.

Know More: New Mutual Fund Rules by SEBI: Categorization and Rationalization Of Mutual Fund Schemes

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, 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.

Read More: Categorization and Rationalization of Mutual Fund Schemes

To see the best mutual funds to invest from every category, see: The 30 Best Mutual Funds to Invest in 2018 – Groww 30.

Happy investing!

Disclaimer: the views expressed here are of the author and do not reflect those of Groww.