Mutual Fund: On the previous Friday, the Sensex finished at 78,699.07, gaining 226 points. However, it has decreased notably. Consequently, retail investors are departing from the primary market and concentrating on investing via mutual funds. In this context, ICICI Prudential Mutual Fund has revealed plans to introduce the Rural Opportunities Fund.
A report from the Central Government was released on Friday. It has been stated that the divide between rural areas and urban centers is narrowing regarding consumption. In other words, individuals are spending without restraint even in rural areas. With this in consideration, ICICI Prudential Mutual Fund has chosen to introduce Rural Opportunities Fund. This fund is an open-ended stock scheme centered around rural and related themes. This initiative will focus its investments mainly in sectors that support and gain from the advancement and progress of rural India.
The aim is to build long-term wealth by focusing investments mainly on equity and related instruments of firms engaged in rural and associated sectors. The NFO for the Rural Opportunities Fund is set to begin on January 9 and will conclude on January 25, 2025.
Sankaran Naren, Executive Director & Chief Investment Officer at ICICI Prudential AMC and the Fund Manager for the NFO, states, “Rural India represents the next theme that could bring about a transformative effect in the coming decade. Motivated by both structural and cyclical economic elements, along with a growing emphasis on rural development through diverse initiatives from numerous state governments, this sector is expected to play a key role in driving economic growth. Therefore, our novel initiative seeks to utilize these advancements, providing investors a chance to engage in India’s rural development narrative.”
Why it can be worth taking a look
India’s development narrative is closely connected to the progress of its rural areas. With the nation’s goal to emerge as a worldwide manufacturing center, rural India is instrumental in this change. The government has achieved considerable improvements in essential needs and living standards in rural regions, setting the stage for widespread developmental initiatives. The rural theme looks promising as demand in rural areas rebounds after ten years of stagnation, along with beneficial structural changes happening. Its extensive reach covers various sectors and market capitalizations, providing stability and growth opportunities throughout the economy.
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