ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan - Series 64 - 3 Years Plan H, 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.
The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.
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 50% to 100% of assets in debt instrument including securitized debt with low to medium risk profile. On the other side it would allocate upto 50% of assets in money market instruments with low to medium risk profile. 50% to 55% of net assets would be invested in AAA rated non convertible debentures and 45% to 50% 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: August 13, 2012
NFO Closes: August 21 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.