ICICI Prudential launches Value Fund Series 2

MUMBAI: Asset management company ICICI Prudential today launched ICICI Prudential Value Fund Series Fund 2, a close ended equity fund.

The fund focuses on investing in stocks that trade at a discount to their true value, the company said in a release.

"Value investing, one of the most popular investment themes globally, is a far bigger theme than any other opportunity in India in prevailing market situation," Nimesh Shah, managing director and chief executive officer of the company said.

Opened on November 18, the fund will close on November 29. The portfolio will be co-managed by S Naren, chief information officer and Atul Patel, Fund Manager, the release said.

The Series 2 Value Fund is the second launch this year by ICICI Prudential. It had earlier offered Value Fund Series 1 and collected Rs 643.48 crore.