Top 3 mutual fund updates on October 29: ICICI SIF filing, HDFC fund manager change and IDCW payout

The mutual fund industry has announced several developments for investors, including a new long-short investment strategy filed by ICICI Mutual Fund, a fund management designation change at HDFC Mutual Fund and an income distribution announcement by Baroda BNP Paribas Mutual Fund.

1. ICICI Mutual Fund files offer document for Sector Rotation Long-Short Fund

The scheme aims to generate long-term capital appreciation by predominantly investing in equity and equity-related securities, alongside limited short exposure through unhedged derivative positions across a maximum of four sectors.

The New Fund Offer (NFO) price will be ₹10 per unit, with no entry load. An exit load of 1% of the applicable Net Asset Value (NAV) will apply to units redeemed or switched out within 12 months of allotment. No exit load will apply after 12 months.

The scheme will offer the growth option and will be benchmarked against the NIFTY 500 TRI. The minimum application amount will be ₹10 lakh, with additional investments permitted in multiples of ₹1. The scheme seeks to collect a minimum target amount of ₹10 crore.

2. HDFC Mutual Fund announces fund manager designation change

Paul S Parampreet, who is currently designated as Member of the Investment Team (Equity), will be redesignated as Fund Manager – Equities, with immediate effect.

Accordingly, his designation in the SAI's ‘Information on Key Personnel’ section has been modified. The AMC stated that all other contents of the SAI remain unchanged and that the addendum will form an integral part of the document, as amended from time to time.

3. Baroda BNP Paribas Balanced Advantage Fund announces IDCW distribution

The record date has been set as November 2, 2026, or the immediately following business day if the specified date is not a business day.

The distribution amount will be ₹0.11 per unit, based on a face value of ₹10 per unit, under the Regular Plan – IDCW Option.