ICICI Prudential Mutual Fund renames two equity schemes

ICICI Prudential Mutual Fund has announced a name change for two of its equity funds, effective June 16. The fund house notified unitholders of the changes through a notice-cum-addendum issued on June 3, 2025.

The names of ICICI Prudential Bluechip Fund and ICICI Prudential Value Discovery Fund will be changed. This move follows a SEBI communication dated March 27, 2025, regarding the need for uniformity in the nomenclature of equity-oriented schemes, the fund house stated.

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ICICI Prudential Bluechip Fund will be renamed as ICICI Prudential Large Cap Fund, and ICICI Prudential Value Discovery Fund will be renamed as ICICI Prudential Value Fund.

All other provisions of the Scheme Information Documents (SIDs) and Key Information Memoranda (KIMs), except as specifically modified above, remain unchanged. All references to the existing scheme names appearing across relevant documents and platforms will be updated with the revised names in due course.

This Notice-cum-Addendum forms an integral part of the SIDs and KIMs of the schemes, as amended from time to time.

As of April 30, 2025, ICICI Prudential Bluechip Fund and ICICI Prudential Value Discovery Fund had assets under management (AUM) of Rs 68,033 crore and Rs 51,111 crore, respectively. ICICI Prudential Bluechip Fund is the largest fund in the large-cap category based on AUM.

The ICICI Prudential Bluechip Fund is managed by Anish Tawakley, Vaibhav Dusad, and Sharmila D'silva. It is suitable for investors seeking long-term wealth creation through an open-ended equity scheme that predominantly invests in large-cap stocks. The minimum investment amount is Rs 100 (and in multiples of Re 1 thereafter).

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ICICI Prudential Value Discovery Fund is managed by Sankaran Naren, Dharmesh Kakkad, Masoomi Jhurmarvala, and Sharmila D’silva. It is suitable for investors seeking long-term wealth creation through an open-ended equity scheme that follows a value investment strategy. The minimum investment amount is Rs 1,000 (and in multiples of Re 1 thereafter).