With election results the markets have been bouyant and it reflects that the faith in policy reforms. We believe that this will support investment sentiment going forward. There could be some volatility due to global factors but India remains strong on macroeconomic front. We believe that strong government could attract foreign investment to India. With the implementation of goods and services tax (GST), will support long-term structural reforms as aimed by the government. With the government's focus on the policy front would assist the unorganised economy move into organised and mainstream economy, thus boosting growth. Investors should look beyond near term concerns, as situation will return to normal and the economy will start moving smoothly again.

The economy has reached the inflection point and is expected to grow over next 3 to 5 years and this strengthens our conviction in launching ICICI Prudential Value Fund - Series 12, a ~3.5 year close ended equity fund that aims to provide long-term capital appreciation by taking exposure in those stocks/sectors that are more levered to the economy and are likely to grow at a faster pace.

The Scheme is a ~3.5 year close ended equity scheme that aims to provide long-term capital appreciation by taking exposure in those stocks/sectors that are more levered to the economy and are likely to grow at a faster pace. The Scheme aims to:

*Dividends will be declared subject to availability of distributable surplus and approval from Trustees.