ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Multiple Yield Fund - Series 2 - Plan E, a close ended income fund. The tenure of the plan is 1100 days.
The primary objective of the scheme is to seek to generate returns by investing in a portfolio of fixed income securities/ debt instruments.
The secondary objective of the scheme is to generate long term capital appreciation by investing a portion of the scheme's assets in equity and equity related instruments.
The fund seeks to collect a minimum subscription amount of Rs 20 crore during the NFO period.
Allocation of funds:
The scheme will allocate 65% to 100% of assets in short term and medium term debt securities / debt instruments and securitized debt with low to medium risk profile.
It would allocate upto 10% of assets in money market instruments with low to medium risk profile. On the flip side it would allocate upto 35% of the asset in equity or equity related securities with medium to high risk profile.
Debt portion of the scheme will be managed by Chaitanya Pande and equity portion of the scheme will be managed by Rajat Chandak. The investments of the scheme in ADR/GDR and other foreign securities will be handled by Punit Mehta.
NFO Opens: March 26, 2012
NFO Closes: April 5, 2012
NFO Price: Rs 10 per unit
Benchmark: Crisil MIP Blended Index.
Options: Cumulative and Dividend Payout
Minimum Application Amount: Rs 5,000 and in multiples of Rs 10 thereafter.
Exit Load: NIL