A recent regulatory update has outlined key changes in the fund management structure at ICICI Prudential Mutual Fund, impacting 2 of its Fund of Fund (FoF) schemes from May 1.
As per a notice cum addendum, the fund house has revised the management teams for ICICI Prudential Passive Multi Asset Fund of Fund and ICICI Prudential Global Advantage Fund (FOF). The Passive Multi Asset FoF is classified as a domestic hybrid FoF, while the Global Advantage Fund (FOF) is an overseas or international FoF.
The ICICI Prudential Passive Multi Asset Fund of Fund, earlier managed by Sankaran Naren, Manish Banthia, Ritesh Lunawat, Dharmesh Kakkad, Nishit Patel and Sharmila D’silva, will now be handled by Manish Banthia, Ritesh Lunawat, Nishit Patel and Sharmila D’silva.
Similarly, ICICI Prudential Global Advantage Fund (FOF), which was previously managed by Sankaran Naren, Dharmesh Kakkad, Sharmila D’silva and Masoomi Jhurmarvala, will now be managed solely by Sharmila D’silva.
S Naren will no longer be part of the fund management team for both schemes. Other provisions of the Scheme Information Documents (SIDs) and Key Information Memorandums (KIMs) remain unchanged. The addendum forms an integral part of these documents.
As of March 2026, the Passive Multi Asset FoF reported an AUM of ₹1,468 crore, while the Global Advantage Fund (FOF) had an AUM of ₹359 crore.
In terms of performance, the Passive Multi Asset FoF delivered a return of 5.33% over the last 6 months and 12.40% over 1 year, outperforming its benchmark, CRISIL Hybrid 50+50 Moderate Index. Since its inception on January 14, 2022, it has posted a CAGR of 12.12%.
The Global Advantage Fund (FOF) generated 15.22% returns in the last 6 months and 33.94% over 1 year. Since its launch on October 7, 2019, it has delivered a CAGR of 12.09%.
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