“In value investing, the wait for the market to discover the true value of the stocks can be long,” says Amol Joshi, founder, PlanRupee Investment Services
ICICI Prudential Mutual Fund (MF) has recently announced the merger of ICICI Pru Value Fund Series 19, a closed-end fund, into ICICI Pru Value Discovery Fund, an open-end scheme.
The former will mature on June 24. Both funds pursue the value strategy.
Rationale behind merger
Fund houses launch closed-end schemes based on certain themes. Sometimes these themes don’t play out within the scheme’s tenure or have scope for performance left.
ICICI Pru Value Fund Series 19 has done reasonably well: Over the past three years, it has given a compound annual return of 13 per cent, compared to the average 8.6 per cent given
First Published: May 22 2021 | 12:28 AM IST