ICICI Prudential Asset Management Company has announced significant changes to the fund management teams of two of its schemes, effective May 1, 2026. According to the official notice issued by the asset management company, there has been a revision in the fund management teams of both the ICICI Prudential Passive Multi-Asset Fund of Fund and ICICI Prudential Global Advantage Fund (FOF). The company clarified that there are no other changes to the schemes, with all remaining provisions outlined in the Scheme Information Documents (SIDs) and Key Information Memoranda (KIMs) continuing as they are.
For the Passive Multi-Asset Fund of Fund, the earlier fund management team included Sankaran Naren, Manish Banthia, Ritesh Lunawat, Dharmesh Kakkad, Nishit Patel, and Sharmila D'silva. Following the revision, the updated team will now comprise Manish Banthia, Ritesh Lunawat, Nishit Patel, and Sharmila D'silva. As reported by Upstox News Desk, this scheme is a multi-asset fund of fund that allocates across different asset classes like equity, debt, and commodities, with exposure including both domestic and some international assets.
For the Global Advantage Fund (FOF), the fund management responsibility has been streamlined significantly. According to the official notice, the scheme was earlier managed by Sankaran Naren, Dharmesh Kakkad, Sharmila D'silva, and Masoomi Jhurmarvala. The fund management responsibility has now been streamlined to be managed solely by Sharmila D'silva from the effective date. This international fund of fund primarily invests in overseas funds/ETFs, providing exposure largely to global markets.
Such revisions are typically part of routine portfolio management and operational adjustments, as noted by the asset management company. Investors are advised to take note of the updated fund management structure while reviewing their investments. The notice-cum-addendum should be read as an integral part of the existing scheme documents, alongside any previous updates issued from time to time. As reported by Upstox News Desk, this represents standard operational adjustments in the mutual fund industry.
