ICICI Pru to "grandfather" two FOFs; new investments to stop from January 27

The fund has an AUM of around Rs 1,415 crore. The fund launched in 2022, invests primarily in a mix of domestic equity and debt ETFs/index funds, global equity ETFs, and gold.

• ICICI Prudential Passive Multi-Asset FoF to be grandfathered from Jan 27, 2026
• Scheme stops accepting new investments after Jan 27, 2026
• Redemptions and switch-outs remain available for investors

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ICICI Prudential Mutual Fund has announced that its Passive Multi-Asset Fund of Fund and Global Advantage FoF will be grandfathered from January 27, 2026. According to the AMC, this is because SEBI’s new rules (as per a letter from SEBI to AMFI on February 6, 2025) for Fund of Funds do not cover the fund’s current structure.

For the Passive Multi-Asset Fund of Fund. from January 27, 2026, the fund will stop accepting new investments, including lump sum purchases, SIPs, and STPs. Existing SIPs and STPs will be discontinued from February 5, 2026, and the IDCW reinvestment option will be converted to the IDCW payout option. The scheme will be merged or closed within three years, by January 2029. The notices states that investors can still redeem their units, switch to other funds, and continue existing SWPs and STP-outs.

Similarly, for the Global Advantage FoF, from January 27, 2026, existing SIPs, STPs, and IDCW reinvestment options will be discontinued, with the IDCW reinvestment option converted to IDCW payout. The fund house had already stopped fresh subscriptions into the fund in August 2025.

The iCICI Pru Passive Multi-Asset Fund of Fund currently has an AUM of around Rs 1,415 crore and was launched in 2022. The  fund, launched in 2022 with an AUM of around Rs 1,415 crore, invests mainly in domestic equity and debt ETFs, global ETFs, and gold. While new investments are no longer allowed, investors retain full access to withdrawals and redemptions until the fund is eventually merged or wound up. It invests primarily in a mix of domestic equity and debt ETFs/index funds, global equity ETFs, and gold. As of December 31, 2025, about 71% of the portfolio is allocated to domestic equity and debt ETFs, 25.5% to overseas ETFs, and the rest to short-term debt and cash.

The ICICI Pru Global Allocation Fund of Fund was launched in October 7, 2019. It currently has a AUM of Rs 368 crore.