NFO Alert: ICICI Prudential Mutual Fund Launches ICICI Prudential Contra Fund

ICICI Prudential Mutual Fund has opened the ICICI Prudential Contra Fund for subscription on September 28, 2026. The NFO will remain open until October 12, 2026. It is an open-ended equity scheme. 

Contrarian Investment Strategy 

The scheme will invest in equity and equity-related instruments. Its stated objective is to generate long-term capital appreciation through a contrarian investment strategy. The benchmark for the scheme is the NIFTY 500 TRI. 

Minimum Investment 

The minimum investment for the scheme is ₹1,000. It will be available under Growth and IDCW plans. The scheme does not have a lock-in period. 

Exit Load Details 

An exit load of 1% will be charged on redemption within one month. The scheme has no separate lock-in period, while the exit load applies based on the holding period. 

Fund Managers Listed 

Dharmesh Kakkad, Gaurav Chikane, Sakshat Goel and Sankaran Naren have been named as the fund managers. The scheme is managed under ICICI Prudential Mutual Fund. 

Very High-Risk Category 

The scheme has been placed in the Very High-risk category on the riskometer. Its portfolio will comprise equity and equity-related instruments as part of the stated investment strategy. 

NFO Remains Open Until October 12, 2026 

The subscription window runs for 15 days, from September 28 to October 12, 2026. After the NFO period, the scheme will operate as an open-ended fund, with no lock-in period specified. 

Read More: Abakkus Mutual Fund Receives SEBI Nod for SIF Platform ‘Fokkus’! 

Conclusion 

The ICICI Pru Contra NFO follows a contrarian strategy within the equity and equity-related securities segment. The scheme has a minimum investment of ₹1,000 and carries a Very High-risk classification. 

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.