Summary of this article
ICICI Pru to grandfather two FoF schemes
Fresh investments and SIPs to stop from January
Investors can redeem or switch out without restrictions
ICICI Prudential Asset Management Company (AMC) has announced the grandfathering of two of its schemes namely, ICICI Prudential Passive Multi-Asset Fund of Fund and ICICI Prudential Global Advantage Fund (FoF), in line with the framework issued by the Securities and Exchange Board of India (Sebi).
The move follows Sebi’s framework for Fund of Fund (FoF) schemes with multiple underlying funds. According to the notice, the existing asset allocation and investment objectives of these schemes do not align with any of the categories specified under the framework. As a result, both schemes will be grandfathered with effect from January 27, 2026.
The funds shall be merged with another scheme or wound up upon completion of three years from January 20, 2026, in accordance with the regulatory framework, the AMC said.
ICICI Prudential Passive Multi-Asset FoF: The scheme will stop accepting fresh investments from January 27, 2026. This includes lump sum investments as well as new registrations under Systematic Investment Plans (SIP) and Systematic Transfer Plans (STP). Purchase or switch-in transactions time-stamped on or before 3:00 pm on January 23, 2026, will be processed at the applicable net asset value (NAV), after which no fresh inflows will be permitted.
Existing SIP and STP registrations will be discontinued with effect from February 5, 2026. In addition, the IDCW reinvestment option will be converted to the IDCW payout option from the same date.
ICICI Prudential Global Advantage Fund (FoF): For the Global Advantage FoF, existing SIPs, STPs and the IDCW reinvestment option will be discontinued from January 27, 2026, with the IDCW reinvestment option being converted to IDCW payout. The fund house had already stopped accepting fresh subscriptions into the scheme in August 2025.
Redemptions and switch-out transactions, including those through Systematic Withdrawal Plans (SWP) or STP-out facilities, will continue to be allowed without any restriction for both schemes. The AMC clarified that grandfathering will not affect investors’ ability to redeem or switch out of the funds.
The ICICI Pru Passive Multi-Asset Fund of Fund currently manages assets worth around Rs 1,415 crore and was launched in 2022. The ICICI Pru Global Advantage Fund of Fund was launched on October 7, 2019, and currently has an AUM of Rs 368 crore.
The notice was issued by ICICI Prudential Asset Management Company on January 22, 2026, and was addressed to existing investors of the schemes.
