Fund 1 of 2 · Value equities
NIFM India AllocatorValue Feeder Fund
Feeds ICICI Prudential Value Fund, a SEBI-regulated, India-domiciled scheme.
- 100% Indian shares
- 3 yr
- 11.11%
- 5 yr
- 10.47%
- Since 2004
- 15.28%
United Arab Emirates · CMA regulated
India: the growth engine the world can’t ignore
Invest in Indian mutual funds, in USD.
Two UAE funds feeding the ICICI Prudential Value and Equity & Debt mutual funds in India. Pick one, or hold both. A UAE fund feeding the ICICI Prudential Value Fund in India. A UAE fund feeding the ICICI Prudential Equity & Debt Fund in India.
- Umbrella
- NIFM India Allocator Feeder Funds
UAE public fund
- Fund 1 of 2
- Value Feeder Fund
Feeds ICICI Prudential Value Fund
- Fund 2 of 2
- Equity & Debt Feeder Fund
Feeds ICICI Prudential Equity & Debt Fund
- Minimum investment
- From USD 1,000
Either sub-fund
Choose a fund
Two funds, each with its own page
See the latest NAV for every share class, the key facts, the documents and how to invest.
Equity
NIFM India AllocatorValue Feeder Fund
Feeds ICICI Prudential Value Fund. Indian companies bought below what they are worth, across large, mid and small caps.
NAV per unit Updated each dealing day
NAV, key facts and how to invest
Hybrid
NIFM India AllocatorEquity & Debt Feeder Fund
Feeds ICICI Prudential Equity & Debt Fund. Indian shares for growth with bonds for income, in one hybrid holding.
NAV per unit Updated each dealing day
NAV, key facts and how to invest
NAVs are shown as published by the fund for each dealing day. For eligible investors only. This is not an offer or solicitation. Past performance is not a guide to future results.
Invest from UAE in ICICI’s Indian Mutual Funds. Hassle free.
- No taxation in India
- No DTAA filing
- No Indian tax filing
- No capital gains tax
Step 01
OCI / NRI / global investor
Step 02
NIFM India Allocator Feeder Funds
An open-ended public umbrella established in the United Arab Emirates, whose Prospectus was adopted by the Capital Market Authority ("CMA"). Two separate sub-funds sit underneath it.
Step 03
Your ICICI Prudential mutual fund
Each feeder invests primarily in one SEBI-regulated Indian scheme: the Value Fund, or the Equity & Debt Fund, chosen when you subscribe.
Two separate funds. One USD door into India.
Fund 2 of 2 · Equity & debt
NIFM India AllocatorEquity & Debt Feeder Fund
Feeds ICICI Prudential Equity & Debt Fund, a SEBI-regulated aggressive hybrid scheme.
- 65–80% shares
- 20–35% bonds
- 3 yr
- 10.94%
- 5 yr
- 10.36%
- Since 1999
- 11.50%
Returns are the Indian master fund's, in USD, annualised, as at 31 May 2026, not the UAE feeder's. Past performance may or may not be sustained in the future.
Who runs the money
Both Indian masters are managed by ICICI Prudential AMC. The UAE feeders are managed by NIFM.
S. Naren
Fund manager, equity
ICICI Prudential AMC
Dharmesh Kakkad
Fund manager, equity
ICICI Prudential AMC
Masoomi Jhurmavala
Fund manager, MF equity
ICICI Prudential AMC
How the two funds differ
Value Feeder Fund
Durable businesses bought at a margin of safety, across large, mid and small caps.
Equity & Debt Feeder Fund
The same Indian shares, with a cushion of bonds that grows when the market looks expensive.
The solid band stays in shares whatever the market does. The pale band moves between shares and bonds as the manager's price-to-book model dictates, so the fund runs 65–80% shares and 20–35% bonds.
Scheme details
Sub-fund 01 of two
NIFM India Allocator Value Feeder Fund
Feeds into ICICI Prudential Value Fund, an open-ended equity scheme following a value theme, managed by ICICI Prudential Mutual Fund in India.
Nature and objective
Open-ended public feeder fund. The sub-fund seeks long-term capital growth and income by investing in the master fund; the master seeks capital appreciation and income from Indian equity and equity-related instruments, including derivatives, debt and money market instruments.
Strategy
A well-diversified, long-only value portfolio held predominantly in Indian equities across the market-cap spectrum. Stocks are selected bottom-up on financial strength, business durability and management behaviour. Sector allocation is benchmark-agnostic, with flexibility to move across market cycles.
Asset allocation
Minimum 85% invested in the Direct Plan, Growth Option of ICICI Prudential Value Fund.
Options, minimums and dealing
Accumulation only. Minimum application USD 1,000, minimum additional subscription USD 10. Subscription, redemption and valuation are daily.
| Master fund | ICICI Prudential Value Fund |
| Master fund managers | S. Naren · Dharmesh Kakkad · Masoomi Jhurmavala |
| Master inception | 16 August 2004 |
| Master closing AUM | USD 6.3 bn |
| Benchmark | Nifty 500 TRI |
| Standard deviation, annualised | 13.14% |
| Sharpe ratio | 0.80 |
| Portfolio beta | 0.80 |
| Average dividend yield | 1.25% |
| Annual portfolio turnover, equity | 0.84 times |
| Period | 1 yr | 3 yr | 5 yr | 7 yr | 10 yr | Since inception |
|---|---|---|---|---|---|---|
| ICICI Prudential Value Fund | −11.56% | 11.11% | 10.47% | 12.47% | 10.93% | 15.28% |
| Nifty 500 TRI | −9.67% | 8.77% | 6.60% | 8.96% | 10.16% | 11.54% |
| Excess return | −1.89% | 2.33% | 3.87% | 3.51% | 0.77% | 3.75% |
Performance is that of the Indian master fund, not of the UAE feeder, and is stated in USD. One-year figures are cumulative; three years and longer are annualised. Since-inception figures run from 16 August 2004. Past performance may or may not be sustained in the future.
Sub-fund 02 of two
NIFM India Allocator Equity & Debt Feeder Fund
Feeds into ICICI Prudential Equity & Debt Fund, an open-ended aggressive hybrid scheme, managed by ICICI Prudential Mutual Fund in India.
Nature and objective
Open-ended public feeder fund. The sub-fund seeks long-term capital growth and income by investing in the master fund; the master seeks long-term capital appreciation and current income from a portfolio of equity and equity-related securities together with fixed income securities.
Strategy
An aggressive hybrid holding net equity exposure of 65–80% and debt exposure of 20–35%, using a blend of top-down and bottom-up stock selection. The net equity level is set by an in-house price-to-book model. Investors could consider a holding period of three years.
Asset allocation
Minimum 85% invested in the Direct Plan, Growth Option of ICICI Prudential Equity & Debt Fund.
Options, minimums and dealing
Accumulation and Distribution. Minimum application USD 1,000, minimum additional subscription USD 10. Subscription, redemption and valuation are daily.
| Master fund | ICICI Prudential Equity & Debt Fund |
| Master fund managers, equity | S. Naren · M. Kalawadia |
| Master fund managers, debt | M. Banthia · S. D’silva · A. Kakkar · S. Sharma · N. Mishra |
| Master inception | 3 November 1999 |
| Master AUM | USD 5.27 bn |
| Benchmark | Nifty 50 TRI |
| Net equity exposure | 65–80% |
| Debt exposure | 20–35% |
| Period | 1 yr | 3 yr | 5 yr | 7 yr | 10 yr | Since inception |
|---|---|---|---|---|---|---|
| ICICI Prudential Equity & Debt Fund | −7.80% | 10.94% | 10.36% | 11.32% | 11.63% | 11.50% |
| Nifty 50 TRI | −13.38% | 4.60% | 4.13% | 6.68% | 8.73% | 9.64% |
| Excess return | 5.58% | 6.35% | 6.24% | 4.64% | 2.90% | 1.85% |
Performance is that of the Indian master fund, not of the UAE feeder, and is stated in USD. One-year figures are cumulative; three years and longer are annualised. Since-inception figures run from 3 November 1999. Past performance may or may not be sustained in the future.
Common to both sub-funds
Umbrella fund
Both sub-funds sit under NIFM India Allocator Feeder Funds, an open-ended public feeder fund established in the United Arab Emirates, whose Prospectus and Supplement were adopted by the Capital Market Authority ("CMA") on 30 March 2026 under number 2026/140. Each sub-fund is a ring-fenced pooling vehicle; the FME has been appointed to manage the Funds and take decisions in relation to investments of the Fund.
Share classes
Each sub-fund has its own share classes, with their own minimums, subscription fees and expense ratios. The classes available to you, and their terms, are shown at the point of investment.
Fund data as of 31 May 2026. Eligibility is limited to offshore investors other than resident Indians, in FATF-compliant countries.
Start your subscription
The Offering Documents, Articles of Association and Subscription Agreement contain the complete terms, risk factors and fees. No offer to purchase interests is made or accepted until those documents have been received and all requisite documentation completed.
Invest
Choose a feeder
Neovision Investment Fund Management LLC
Office 1606, Al Khazna Tower,
Abu Dhabi, UAE · PO Box 7851