ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential US Bluechip Equity Fund, an open ended equity scheme. The face value of the scheme is Rs. 10 per unit. The new issue will be open for subscription from 18th June 2012 and closes on 2nd July 2012. The investment objective of the scheme is to provide long term capital appreciation to investors by primarily investing in equity and equity related securities (including ADRs / GDRs issued by Indian and foreign companies) of companies listed on New York Stock Exchange (NYSE) and / or NASDAQ. The performance of the scheme will be benchmarked against S&P 500 and will be managed by Mr. Atul Patel and Mr. Chaitanya Pande.