The New Fund Offer (NFO) opens on September 21 and closes on October 05. The Scheme will be managed by Mrinal Singh, Deputy CIO- Equities and the benchmark is Nifty 100 ESG Index TRI.
“ESG investing is synonymous with sustainable investing. In the coming years, ESG way of investing will be a new normal in India as most of the millennial & young population in India are more conscious and diligent while making an investment decision. Majority of studies highlights that companies with good ESG scores tick-off most of the check-boxes for investing, tends to mitigate Environmental & Social risks and tends to have stronger cash flows, lower borrowing costs and durable returns,” Nimesh Shah, MD & CEO, ICICI Prudential AMC, said.
The fund house believes that in India, the ESG concept is at a nascent stage and has huge scope to explore. Whereas globally, responsible investing i.e. ESG-based investing has been present for a while, with investor happily accepting this concept as showcased through the flows received in 2019 .