Changes have been effected at prominent schemes such as ICICI Prudential Balanced Advantage, ICICI Prudential Liquid, and ICICI Prudential Multi-Asset Fund, among others.
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Medium to long term funds have a mandate to invest in debt and money market instruments with a duration of four to seven years. These schemes are suitable for debt investors with a long horizon and willingness to take extra risk.
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The asset under management of the medium to long duration fund category as on December 31, 2023 was at Rs 10,337.85 crore. The asset under management of the medium to long duration fund category has surged 16.80% in 2023, from Rs 8,850.88 crore in January to Rs 10,337.85 crore in November.