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Pru ICICI launches Mid-Cap Fund

Prudential ICICI AMC has decided to cash-in on the euphoria surrounding mid-cap stocks by launching the Emerging Star Fund, an open-ended fund that would invest in mid-cap stocks. This would be the first such offering from the AMC. The IPO period would be from September 6-25, 2004.

The fund would aim for long-term capital appreciation by investing in mid-cap stocks that had the potential to make it to the big league. A major part of the fund's portfolio would be invested in stocks having market capitalization between Rs 100 crores to Rs 2500 crores.