Two distinct New Fund Offers (NFOs) have recently opened, providing investors with diverse avenues for portfolio construction. ICICI Prudential Mutual Fund has introduced a passive fund of funds focusing on dynamic asset allocation, while The Wealth Company Mutual Fund has launched an actively managed multi-cap equity scheme.
ICICI Prudential Dynamic Asset Allocation Passive FOF
The ICICI Prudential Dynamic Asset Allocation Passive FOF commenced subscriptions on August 26 and will remain open until September 9, 2026. This open-ended fund of funds is designed to dynamically adjust its exposure to passive equity and debt schemes. Allocation decisions are guided by ICICI Prudential's proprietary Equity Valuation Index (EVI), which incorporates factors like price-to-earnings ratios, price-to-book ratios, G-Sec-adjusted earnings, and India's market capitalization relative to GDP.
As of July 31, 2026, the EVI stood at 105.2, indicating a neutral zone within the fund's model. The equity component of the scheme can invest in passive funds tracking various market-cap segments, sectors, themes, and factor-based strategies. For its debt portfolio, the fund may allocate to target-maturity, constant-duration, and constant-maturity index funds and exchange-traded funds. Debt duration decisions will consider interest rate trends, Reserve Bank of India policy expectations, the yield curve, and the broader economic growth outlook.
A notable feature of this fund structure is that internal rebalancing between equity and debt within the scheme does not trigger immediate tax implications for the investor, unlike individual management of equity and debt investments. The minimum investment during the NFO period is ₹1,000, with subsequent investments in multiples of ₹1. The scheme carries a “Very High” risk rating and is benchmarked against the CRISIL Hybrid 50+50 – Moderate Index. Investors can utilize Systematic Investment Plans (SIPs), Systematic Withdrawal Plans (SWPs), and Systematic Transfer Plans (STPs). The fund is managed by Manan Tijoriwala, Sharmila D'Silva, Manish Banthia, Ritesh Lunawat, and Nishit Patel.
The Wealth Company Multi Cap Fund
The Wealth Company Mutual Fund, part of the Pantomath Group, launched its Multi Cap Fund NFO on August 27, with the offer closing on September 10, 2026. The scheme will reopen for continuous transactions on September 21, 2026. This open-ended equity scheme will actively invest across large-cap, mid-cap, and small-cap stocks, maintaining an indicative allocation range of 25%-50% in each segment, adhering to regulatory requirements for multi-cap funds.
Madhu Lunawat, Founder, Managing Director, and CEO of The Wealth Company Mutual Fund, emphasized their investment philosophy: “Market capitalisation is a number, not an investment thesis. A company may be large today and have limited room to grow. A smaller company may have the opportunity to become tomorrow’s leader.”
The fund employs an active investment strategy that combines bottom-up stock selection with top-down structural trend analysis. Its investment process integrates an in-house screening framework with a private-equity-style approach to portfolio construction and due diligence. The scheme aims for long-term capital appreciation through a diversified portfolio across various companies and sectors. Managed by Chinmay Sathe, it is benchmarked against the NIFTY 500 Multi Cap 50:25:25 TRI. The minimum initial investment is ₹1,000, with monthly SIPs starting at ₹250 and available across daily, weekly, fortnightly, and quarterly frequencies.