ICICI Prudential Mutual Fund has revised the fund management of 2 of its schemes, with effect from 1 May 2026.
The update was communicated through a notice-cum-addendum to the Scheme Information Documents (SIDs) and Key Information Memoranda (KIMs).
The changes cover ICICI Prudential Passive Multi Asset Fund of Fund and ICICI Prudential Global Advantage Fund (FOF).
The Passive Multi Asset Fund of Fund will now be managed by Manish Banthia, Ritesh Lunawat, Nishit Patel and Sharmila D’silva. The earlier team included Sankaran Naren and Dharmesh Kakkad, who are no longer part of this scheme.
For the Global Advantage Fund (FOF), Sharmila D’silva will be the sole fund manager from the effective date.
The scheme was previously managed by Sankaran Naren, Dharmesh Kakkad, Sharmila D’silva, and Masoomi Jhurmarvala. Sankaran Naren has been removed from both schemes.
The Passive Multi Asset Fund of Fund is a domestic fund that invests across asset classes such as equity, debt and commodities through underlying schemes.
The Global Advantage Fund (FOF) invests primarily in overseas funds and exchange-traded funds, giving it exposure to international markets.
As of March 2026, the Passive Multi Asset Fund of Fund had assets under management of ₹1,468 crore.
The Global Advantage Fund (FOF) reported assets under management of ₹359 crore during the same period.
The Passive Multi Asset Fund of Fund delivered a return of 5.33% over 6 months and 12.40% over 1 year.
Since its launch in January 2022, it has recorded a compounded annual growth rate of 12.12%, higher than its benchmark, the CRISIL Hybrid 50+50 Moderate Index.
The Global Advantage Fund (FOF) returned 15.22% over 6 months and 33.94% over 1 year. Since its inception in October 2019, it has posted a CAGR of 12.09%.
The fund house stated that there are no changes to the schemes’ structure or investment mandate. All other provisions in the SIDs and KIMs remain unchanged, and the addendum forms part of the scheme documents.
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The changes are limited to fund management responsibilities for the 2 schemes, effective 1 May 2026. There are no revisions to their structure, investment approach, or stated mandates.
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.
Published on: Apr 29, 2026, 4:07 PM IST
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