- What is the ICICI Prudential Mutual Fund?
- Types of mutual funds offered by ICICI Prudential
- Equity Schemes
- Hybrid Schemes
- Debt Funds
- Solution-Oriented Funds
- Fund of Funds
- Exchange-Traded Funds
- Documents required for Investing in ICICI Prudential Mutual Fund
- How to invest in ICICI Prudential Mutual Funds online?
If you ask how can I invest online, ICICI Pru Mutual Funds might be a good option. You can make an investment online, and there are a variety of funds to choose from.
In this post, we’ll go over how to invest in ICICI Prudential Mutual Funds online and the different types of funds and associated documents. Besides, by the end of the article, you’ll be able to get to know the process of making a quick investment. Let’s get started!
What is the ICICI Prudential Mutual Fund?
ICICI Prudential Asset Management is an innovative online investment company started by two of India’s biggest companies, ICICI Bank and UK-based insurer Prudential Plc. It began operations in 1993 after registering with the Securities and Exchange Board of India (SEBI) – the capital market regulator. One year before, it launched to provide mutual fund services for individuals unfamiliar or not yet aware of how these worked overseas at this period when internet connectivity wasn’t nearly what it now exists today, making funds accessible much easier than ever.
ICICI Bank and Prudential Plc have sponsored ICICI Prudential Mutual Funds. The fund’s trustee is a company called Trustee Company Ltd., which also happens to be one of India’s largest insurers.
The company has been on a tear since it first launched. With over 300 locations, the main being Pune (Maharashtra), and 4 million investors already invested in them, it’s easy to see why their growth momentum is exponential.
The unique feature of mutual fund investment is that they don’t follow a one-size-fits-all philosophy. Instead, they offer new investments to individuals under various income brackets, age groups, etc.
ICICI mutual funds make investing in diverse and robust stock markets easier. They offer options that cover all the bases. Whether you’re looking for a short-term investment or a long-term one with moderate risk factors – there’s an option just right for your needs!
Besides, investment in ICICI Prudential Mutual Funds online suits both financial experts and novice individuals just starting their journey. With a team of fund managers who are experts in the financial industry, ICICI bank can guide its mutual fund schemes through volatile capital market conditions.
You can find several advantages of investing in Mutual Funds on the ICICI Direct trading platform or through a special service https://www.icicipruamc.com/:
- Expert fund managers manage ICICI Mutual Funds investments and the performance of the MF, intending to get potential returns corresponding to the risk of the scheme. Due to the volatile nature of the market, returns can’t be guaranteed.
- When you invest in mutual funds of ICICI, your investment is likely to diversify across different asset classes. The risk is thus spread evenly across the portfolio of the investor.
- Equity Linked Savings Plans (ELSS) makes mutual funds online at https://www.icicipruamc.com eligible for tax benefits and exemptions.
- It has a diverse debt mutual instrument portfolio, including Government Securities, Money Markets, Treasury Bills, and Corporate Bonds.
- You can enter and exit a scheme anytime you want, subject to tax implications and tax load if any.
- ICICI MF is registered with and regulated by SEBI and is mandated to disclose all the information with regard to the scheme. It makes it simpler to understand mutual funds and allows investors to analyze them before investing.
- Mutual funds are considered affordable, as the SIP (Systematic Investment Plan) allows investors to begin with a very low amount.
- It provides attractive post-tax returns on debt instruments in the form of capital gains and dividends.
Many people have already appreciated the convenience of such types of investments. Online investment in ICICI Mutual Funds performed outstandingly compared to others, including Axis MF, over the last couple of years.
Types of mutual funds offered by ICICI Prudential
Here are the various types of mutual funds offered by ICICI Prudential.
The ICICI Prudential Equity Funds are a great choice for investors who want to grow their income and achieve goals over time. These funds will generate higher returns than other types, which means you’ll be able to get ahead faster with your purse.
The ICICI Prudential Hybrid Funds generate additional income appreciation in the long run and income during periods of economic prosperity. They invest on a more stable footing when things get rough financially for other investors or countries’ economies suffer heavy blows due to both factors playing their part equally too much alike.
This leads these types of investments to be less risky than others that might not offer balanced returns but instead add additional risk to an already volatile market. By investing in hybrid securities, you can take advantage even if there’s turmoil all around.
ICICI Prudential Debt Funds are for investors who want to invest in a security with regular income and the safety of their capital. These funds provide you with conservative returns that will last around 5 years, so it’s ideal if your investment horizon is shorter than this.
The close-ended funds with a lock-in of five years, Solution-Oriented Mutual Funds, are an investor’s best bet if they want the flexibility to design their own portfolio. These types provide higher growth given that it has longer tenure investment horizons and can be used for attaining desired goals during this time frame.
Fund of Funds
The Fund of Funds is a smart investment strategy that diversifies your funds across available categories, high-risk or medium risk. It also ensures you are well protected from any particular risk by investing in multiple portfolios designed specifically for these situations.
Exchange-Traded Funds (ETF/Index) are a popular way to invest in the stock market. They’re similar to mutual funds but trade on exchanges instead of being sold at retail shops or offered through other channels like brokers who handle those transactions for you. So they have more potential returns because traders can buy them cheaper when there are discounts from what an index fund would charge.
Documents required for Investing in ICICI Prudential Mutual Fund
Buying an ICICI Prudential Mutual Fund is simple. However, like any other financial transaction, it’s not complete without proper documentation.
You need to complete the Know Your Customer (KYC) process first to invest in MF. This is the list of the documents for KYC:
- PAN card.
- Address proof.
- Proof of Identity (Unique Identification Number) – Aadhar or Voter ID card or Driving License or Passport/ID.
- Colored photographs.
After KYC, you need to submit other docs as well, such as:
- Application form.
- A cheque from your bank account. However, cheques are not required if you are applying online. You can fill out the form and pay the amount online.
You need to furnish your email ID to generate a username and password before you begin investing online in ICICI Prud Mutual Funds of your choice. Apart from the docs mentioned above, you need to submit another doc, a third party declaration for minors if the investor is a minor. Parents can invest on their behalf.
For non-individuals, companies, or trusts, the following documents are required. Apart from those listed above, you will also need to provide the following:
- Memorandum and Article of Association.
- Certificate of registration/incorporation.
- Power of Attorney (for Trust).
- Trust deeds (for Trust).
- Bank Statement.
- List and signature/s of authorized person/s.
- Resolution of the Board of Directors to open an account for investment in ICICI Mutual Funds Schemes.
- Certificate of registration with SEBI for FIIs.
After having all the documents ready, you can invest in ICICI Mutual Funds online and select a fund that fits your monetary goals and risk appetite.
How to invest in ICICI Prudential Mutual Funds online?
You can invest in the ICICI Prudential Mutual Fund online with just a few clicks:
- Visit the official website https://www.icicipruamc.com/.
- Go to “Invest Now” and choose the “Login to Invest” button.
- If you are using it for the first time, you have to skip Step 2 and choose “Register now” to be redirected to another page.
- Enter your folio number to create an account
- Agree to terms and conditions and then “Submit”.
- An OTP (One Time Password) will be generated on your registered mobile number.
- Enter the number and ‘Click now’ to complete the verification.
You can check digits or make the balance inquiry online in your account. You can also call customer care for more information.
ICICI Prudential Mutual Fund is one of India’s best mutual fund investing services. It offers a wide range of funds and several features that make it attractive for investors. However, it is important to understand the pros and cons before investing in any mutual fund, and ICICI Prudential MF is no exception.
Before investing in any mutual fund, be sure to read all the relevant documents carefully to understand the risks involved. With careful planning and research, investing in mutual funds can be a great way to grow your income over time.
We hope this article has helped provide an overview of what ICICI Pru Mutual Funds online offer and how you can invest in it.