ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan - Series 64 - 367 Days Plan G, a close ended debt scheme. The tenure of the scheme is 367 days.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme.
Presently, two options are available under the scheme viz. cumulative and dividend option. Dividend Payout is the only facility available under dividend option. Cumulative option shall be default option under the scheme.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
Allocation of Funds:
The scheme will allocate upto 100% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and securitized debt.
70% to 75% of net assets would be invested in A1 rated certificate of deposits and 25% to 30% in A1 rated commercial papers.
Entry load and exit load charge are not applicable for the scheme.
NFO Opens: July 2, 2012
NFO Closes: July 5, 2012
NFO: Rs 10 per unit
Benchmark: Crisil Short Term Bond Fund Index
Minimum Application Amount: Rs 5000 and in multiples of Rs 10 thereafter.
Manager: Mr. Chaitanya Pande.