ICICI Prudential Mutual Fund announces change in fund management of two funds

ICICI Prudential Mutual Fund has announced a change in fund managers of its two funds, ICICI Prudential Passive Multi Asset Fund of Fund and ICICI Prudential Global Advantage Fund (FOF), with effect from May 1.

The fund house informed about these changes through a notice cum addendum. ICICI Prudential Passive Multi Asset Fund of Fund is a FoF (Domestic) hybrid fund, whereas ICICI Prudential Global Advantage Fund (FOF) is a FoF (overseas) or an international fund.

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According to the notice cum addendum, ICICI Prudential Passive Multi Asset Fund of Fund, which is currently managed by Sankaran Naren, Manish Banthia, Ritesh Lunawat, Dharmesh Kakkad, Nishit Patel and Sharmila D’silva, will now be managed by Manish Banthia, Ritesh Lunawat, Nishit Patel and Sharmila D’silva.

ICICI Prudential Global Advantage Fund (FOF), which is currently managed by Sankaran Naren, Dharmesh Kakkad, Sharmila D’silva and Masoomi Jhurmarvala, will now be managed by Sharmila D’silva.

S Naren will no longer be part of the fund management team for both these funds, ICICI Prudential Passive Multi Asset Fund of Fund and ICICI Prudential Global Advantage Fund (FOF).

All the other provisions of the SIDs/KIMs of the aforesaid schemes, except as specifically modified herein above, remain unchanged. This notice cum addendum forms an integral part of the SIDs/KIMs, as amended from time to time.

ICICI Prudential Passive Multi Asset Fund of Fund and ICICI Prudential Global Advantage Fund (FOF), as of March 2026, had an AUM of Rs 1,468 crore and Rs 359 crore, respectively.

In the last six months, ICICI Prudential Passive Multi Asset Fund of Fund posted a return of 5.33%, and in the last one year it gained 12.40%, thereby outperforming its benchmark (CRISIL Hybrid 50+50 Moderate Index). Since its inception on January 14, 2022, the fund has offered a CAGR of 12.12%.

ICICI Prudential Global Advantage Fund (FOF) posted a return of 15.22% in the last six months, and in the last one year it rose 33.94%. Since its inception on October 7, 2019, the fund has offered a CAGR of 12.09%.

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In January 2026, S Naren moved out of the fund management team of two other funds, ICICI Prudential Business Cycle Fund and ICICI Prudential Dynamic Asset Allocation Active FOF.

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