ICICI Prudential Mutual Fund has announced a change in asset allocation of ICICI Pru Midcap. The maximum allocation for debt, cash and money market instruments has been raised from 10 to 35% and the securitised debt has been restricted to 50% of the debt portfolio.
Instead of a minimum 90% allocated for the equity and related securities, a further bifurcation has been made for the same. A minimum of 65% of the total assets has been allocated for equity and related securities of stocks with market capitalisation falling between the lowest market capitalisation stock and highest market capitalisation stock on CNX Midcap Index.
For Equity and related securities of stocks forming part of S&P CNX Nifty Index and for securities of stocks with market capitalisation falling between the lowest market capitalisation stock and highest market capitalisation stock on BSE Small Cap Index the maximum limit has been set as 35% for both.
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