Description

ICICI Prudential Mutual Fund announces changes to three schemes including ICICI Prudential Silver ETF Fund of Fund, ICICI Prudential Gold ETF, and ICICI Prudential Regular Gold Savings Fund (FOF), effective January 30, 2026.

Summary

ICICI Prudential Asset Management Company Limited has issued a Notice-cum-Addendum regarding changes to three mutual fund schemes under ICICI Prudential Mutual Fund. The changes affect ICICI Prudential Silver ETF Fund of Fund, ICICI Prudential Gold ETF, and ICICI Prudential Regular Gold Savings Fund (FOF), and will be effective from the closure of business hours on January 30, 2026. SEBI has provided no-objection for these changes vide communication dated December 22, 2025.

Key Points

  • Three ICICI Prudential schemes are being modified with effect from January 30, 2026
  • ICICI Prudential Silver ETF Fund of Fund (Scheme Code: ICIC/O/O/FOD/21/12/0138)
  • ICICI Prudential Gold ETF (Scheme Code: ICIC/O/O/GET/10/04/0038)
  • ICICI Prudential Regular Gold Savings Fund (FOF) (Scheme Code: ICIC/O/O/FOD/11/08/0041)
  • Changes have received SEBI no-objection dated December 22, 2025
  • Primary changes relate to investment objective and benchmark specifications

Regulatory Changes

For ICICI Prudential Gold ETF, the following changes are proposed:

Investment Objective: The reference to “LBMA AM fixing prices” is being removed. The revised objective will seek to track “domestic prices of Gold” without specific reference to LBMA AM fixing prices, while maintaining the goal to provide investment returns that closely track gold performance before expenses.

Benchmark Change: The benchmark is being changed from “LBMA AM Fixing Prices (Domestic Prices of Gold)” to simply “Domestic Prices of Gold”.

Asset Allocation: The product labeling and asset allocation structure remains unchanged:

  • Gold bullion and instruments with Gold as underlying: 95-100% of total assets
  • Debt & Money Market Instruments including units of Debt oriented Mutual Funds: 0-5% of total assets
  • Scheme may participate in ETCDs (Exchange Traded Commodity Derivatives) with gold as underlying up to 50% of net asset value

Compliance Requirements

  • Unit holders are requested to take note of the proposed changes
  • No action required from investors as these are scheme attribute modifications
  • Changes are in compliance with SEBI regulations and have received regulatory approval
  • The schemes will continue to operate under their existing structure with modified objectives and benchmark

Important Dates

  • SEBI No-Objection Date: December 22, 2025
  • Effective Date: Closure of business hours on January 30, 2026
  • Circular Issue Date: December 29, 2025

Impact Assessment

Market Impact: Minimal. These are technical modifications to scheme documentation rather than fundamental changes to investment strategy or operations.

Investor Impact: Low. The changes primarily affect how the investment objective and benchmark are stated. The underlying investment strategy, asset allocation ranges, and risk profile of the schemes remain substantially the same. Unit holders do not need to take any action.

Operational Impact: The schemes will continue to invest in gold bullion and related instruments as before, with the same allocation parameters. The modification to remove specific reference to LBMA AM fixing prices provides flexibility while maintaining the core objective of tracking domestic gold prices.

Impact Justification

Routine scheme attribute changes in mutual fund schemes with SEBI approval. Changes primarily to investment objective wording and benchmark specifications. No material impact on trading or investor holdings.