ICICI Prudential Business Cycle Fund : Reading economic indicators Satya Sontanam BL Research Bureau | Updated on January 09, 2021 The fund’s investment theme is based on economic phases such as recession, recovery, growth ICICI Prudential Mutual Fund has launched a new fund offer (NFO) — ICICI Prudential Business Cycle Fund. This is an open-ended scheme with an investment theme based on various phases of economic activity such as recession, recovery and growth. The NFO closes on January 12. Investment strategy The fund follows a top-down approach for stock selection. Higher weightage is given to factors such as economic and sectoral indicators, monetary policy response of central banks, growth and inflation than to the fundamentals of the company. Because, the fund house believes that markets are going to be volatile going ahaed and opportunities exist in being nimble and shifting between sectors as macro environment changes.