ICICI Prudential Mutual Fund Announces Reclassification of its Thematic Advantage FoF as Aggressive Hybrid Active FoF

ICICI Prudential Mutual Fund has said its ICICI Prudential Thematic Advantage Fund (FoF) will be reclassified as ICICI Prudential Aggressive Hybrid Active FoF with effect from April 1, 2026. The scheme will now fall under the Hybrid FoF (Domestic)- Aggressive Hybrid category. 

The fund managed assets worth ₹8,854 crore as of February 27, 2026, based on ACE MF data. 

Reason for the Change 

The revision follows a framework issued on February 6, 2025, by Securities and Exchange Board of India (SEBI) through AMFI.  

The framework requires fund houses to align fund of fund schemes that invest across multiple underlying funds with updated guidelines. 

The scheme has been adjusted to comply with these requirements without changing its basic structure as a fund investing through other schemes. 

Updated Asset Allocation 

Under the revised structure, 95-100% of the corpus will be invested in units of active mutual fund schemes. Within this, 65–80% will be allocated to equity-oriented schemes, while 20-35% will be invested in debt-oriented schemes. 

Up to 5% of the corpus may be parked in money market instruments with maturities not exceeding 91 days, including tri-party repos. 

Investment Approach and Benchmark 

The scheme’s benchmark has been changed to the AMFI Tier 1 – CRISIL Hybrid 35+65 Aggressive Index. 

The fund will continue to move across sectors and themes, while the addition of debt exposure is expected to provide some stability during periods of market volatility. The structure also allows exposure to small- and mid-cap schemes when required. 

Exit Option for Investors 

Unit holders as on March 18, 2026, have been given the option to exit the scheme without any exit load. This facility is available from March 19 to March 31, 2026, up to 3:00 p.m., subject to applicable cut-off timings. 

Read More: Several Equity Mutual Funds Surpass ₹70,000 Crore AUM, with Top Schemes Crossing ₹1 Lakh Crore! 

Conclusion 

The reclassification aligns the scheme with regulatory norms and introduces a hybrid allocation mix while continuing its fund of fund structure. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Mutual Fund Investments are subject to market risks, read all the related documents carefully before investing.