Description

ICICI Prudential Asset Management Company announces scheme name change and recategorization of ICICI Prudential Income Plus Arbitrage Active FOF to ICICI Prudential Income Plus Arbitrage Omni FOF, effective November 25, 2025.

Summary

ICICI Prudential Asset Management Company Limited has announced changes to its Fund of Funds (FOF) scheme pursuant to SEBI’s extant framework. The ICICI Prudential Income Plus Arbitrage Active FOF will be renamed to ICICI Prudential Income Plus Arbitrage Omni FOF and recategorized from a debt-oriented and arbitrage scheme to one that invests in units of domestic active and passive debt oriented and arbitrage schemes. The changes are effective from November 25, 2025.

Key Points

  • Scheme name changes from “ICICI Prudential Income Plus Arbitrage Active FOF” to “ICICI Prudential Income Plus Arbitrage Omni FOF”
  • Scheme type updated to specify investment in both active and passive debt oriented and arbitrage schemes
  • Product labeling changes from “Short Term Savings” to “Medium to Short Term Savings”
  • Investment objective revised to explicitly include units of domestic active and passive Debt oriented schemes
  • Asset allocation pattern remains substantially the same: 95-100% in units of schemes, 0-5% in money market instruments
  • Approved by both ICICI Prudential Trust Limited (Trustee) and ICICI Prudential Asset Management Company Limited (AMC)

Regulatory Changes

The recategorization is implemented pursuant to the extant framework issued by SEBI for Fund of Funds. The scheme now explicitly permits investment in both active and passive debt oriented schemes, expanding the investment universe from the previous framework that only mentioned debt oriented schemes without the active/passive distinction.

Compliance Requirements

This is a Notice-cum-Addendum to the Scheme Information Documents (SIDs) and Key Information Memorandums (KIMs) of the affected scheme. Existing investors should review the updated scheme features, particularly the expanded scope to include passive debt oriented schemes alongside active schemes.

Important Dates

  • Effective Date: November 25, 2025 - Date from which the scheme name change and recategorization becomes effective

Impact Assessment

The impact of this change is limited to investors in the specific ICICI Prudential FOF scheme. The recategorization provides the fund manager with greater flexibility to invest in both active and passive debt oriented schemes, potentially offering better diversification options. The core investment strategy and asset allocation remain largely unchanged, maintaining the focus on generating regular income through debt oriented and arbitrage schemes. No immediate action is required from existing investors, though they should review the updated documentation.

Impact Justification

Administrative change involving mutual fund scheme name modification and recategorization. No direct impact on stock trading or broad market participants. Primarily affects existing investors in the specific ICICI Prudential FOF scheme.