The NFO opens on June 15, 2011 and closes on June 29, 2011.
The tenure of the scheme is 1100 Days. The issue price offered for the scheme is Rs 10 per unit and the scheme is proposed to be listed on NSE.
Allotment of units will be completed within 5 working days from the closure of the NFO closing date.
The minimum application amount is Rs 5,000 and after that additional investment can be made of Rs. 10. Same will be applicable for switch-ins made during the NFO period as well.
The fund targets to raise a minimum subscription of Rs 5 crore under the scheme during the NFO period.
The investors will be provided with the two options: Cumulative and Dividend. Dividend option offers the facility of dividend payout. Dividend option will have half yearly dividend frequency. Investor needs to choose any of the option while investing, if he is not specifying the same at the time of investing, it will be implied that investor has opted for cumulative option.
The scheme will invest a portion in good quality debt/money market instruments and fixed income securities and a portion in equity and equity related securities. The prime objective of investment is to generate returns and secondary objective of the investment is to generate long-term capital and provide capital appreciation.
However, no guaranteed returns are assured under the scheme.
Allocation of funds:
The scheme will allocate upto 70% to 100% of assets in money market instruments, short and medium term debt securities and securitised debt with low to medium risk profile. It would allocate the balance upto 30% of assets in equity and equity related securities with medium to high risk profile.
Chaitanya Pande will be the Fund Manager of this scheme.
Pande is PGDBM from IMI, New Delhi and BSc from St. Stephens College, New Delhi. He has 15 years of overall work experience and currently holds the position of Manager - Fund Management with ICICI Prudential.
He manages a good number of schemes stating few as ICICI Prudential Liquid Plan, ICICI Floating Rate Plan, ICICI Prudential Banking and PSU Debt Fund, etc.
NFO Opens: June 15, 2011
NFO Closes: June 29, 2011
NFO Price: Rs 10 per unit
Options: Cumulative and Dividend
Minimum Application Amount: Rs 5,000 per application and additional Rs. 10, thereafter
Exit Load: Nil
Benchmark: Crisil MIP Blended Index
Fund Manager: Chaitanya Pande