ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan - Series 63 3 Years Plan M, a close ended debt scheme. The tenure of the scheme is 1098 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.
Allocation of Funds:
The scheme will allocate upto 100% of assets in short term and medium term debt securities / debt instruments and securitized debt with low to medium risk profile. Investment in securitized debt would be upto 50%.
40% to 45% of net assets would be invested in AAA rated non convertible debentures and 55% to 60% in AA rated non convertible debentures.
Entry load and exit load charge are not applicable for the scheme. The scheme is proposed to be listed on BSE.
NFO Opens: July 18, 2012
NFO Closes: July 25, 2012
NFO: Rs 10 per unit
Minimum Application Amount: Rs 5000 and in multiples of Rs 10 thereafter.
Benchmark: Crisil Short Term Bond Fund Index.
Manager: Mr. Chaitanya Pande.