ICICI Prudential Mutual Fund has filed offer document with SEBI to launch open ended investment strategy named ‘iSIF Equity Long-Short Fund'. The New Fund Offer price for units would be Rs 10 each during the NFO. Entry load will be nil. Exit load will be 1% of applicable Net Asset Value- If the amount sought to be redeemed or switched out within 12 months from allotment; and NIL- If the amount sought to be redeemed or switched out after 12 months. The Scheme offered growth option only for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.The performance will be benchmarked against NIFTY 500 TRI. The minimum application amount during NFO will be Rs 1000000 and in multiples of Re 1 thereafter.The investment objective of the scheme is to generate capital appreciation in long term by predominantly investing in listed equity and equity related instruments. The Investment strategy may also invest in various derivative instruments, including short exposure through unhedged derivative positions in equity up to 25%.