Description

ICICI Prudential Asset Management Company announces changes in scheme attributes for 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 in three mutual fund schemes effective from closure of business hours on January 30, 2026. The affected schemes are ICICI Prudential Silver ETF Fund of Fund, ICICI Prudential Gold ETF, and ICICI Prudential Regular Gold Savings Fund (FOF). SEBI communicated its no-objection for these changes on December 22, 2025.

Key Points

  • Three ICICI Prudential mutual fund schemes undergoing attribute changes
  • SEBI no-objection received on December 22, 2025
  • Changes effective from January 30, 2026 (after business hours)
  • Primary change for Gold ETF: benchmark modified from “LBMA AM Fixing Prices (Domestic Prices of Gold)” to “Domestic Prices of Gold”
  • Investment objective simplified to remove specific reference to LBMA AM fixing prices
  • Asset allocation structure remains unchanged (95-100% in gold bullion and instruments, 0-5% in debt and money market instruments)
  • Scheme continues to participate in Exchange Traded Commodity Derivatives (ETCDs) with gold as underlying up to 50% of NAV

Regulatory Changes

SEBI has approved modifications to scheme attributes for the three ICICI Prudential schemes. The key regulatory change involves updating the investment objective and benchmark for ICICI Prudential Gold ETF:

Investment Objective Change:

  • Previous: Seek to provide returns that closely track performance of domestic prices of Gold derived from LBMA AM fixing prices
  • New: Seek to provide returns that closely track performance of domestic prices of Gold (without specific LBMA reference)

Benchmark Change:

  • Previous: LBMA AM Fixing Prices (Domestic Prices of Gold)
  • New: Domestic Prices of Gold

The scheme remains passively managed and can participate in ETCDs with gold as underlying.

Compliance Requirements

  • Unit holders of affected schemes should take note of the proposed changes
  • Asset Management Company has obtained SEBI no-objection dated December 22, 2025
  • Scheme Information Documents (SIDs) and Key Information Memorandums (KIMs) to be updated with addendum
  • Existing unit holders do not need to take any action; changes are automatic

Important Dates

  • SEBI No-Objection Date: December 22, 2025
  • Effective Date: January 30, 2026 (after closure of business hours)
  • Circular Issue Date: January 29, 2026

Impact Assessment

The changes have medium impact on existing unit holders:

For Investors:

  • Investment strategy and asset allocation remain fundamentally unchanged
  • Benchmark modification provides flexibility by removing specific LBMA AM fixing price reference
  • Scheme continues to track domestic gold prices with same allocation parameters (95-100% gold exposure)
  • No change in risk profile or investment approach

For Market:

  • Administrative change affecting scheme documentation and benchmark tracking
  • No material impact on trading or operations of the schemes
  • Simplified benchmark may provide clearer performance evaluation

Scheme Details:

  • 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)

Impact Justification

Scheme attribute changes affecting existing unit holders of ICICI Prudential mutual fund schemes with SEBI approval. Primary impact on investors in these specific schemes.