ICICI Prudential Mutual Fund launches three year Fixed Maturity Plan

Mutual Funds

oi-Sneha

By Sneha B K

Published: Saturday, September 8, 2012, 12:56 [IST]

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan - Series 64 - 3 Years Plan K, a close ended debt scheme. The tenure of the scheme is 1098 days.

Investment Objective:

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 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.

The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.

Basic Details:

NFO Opens: September 10, 2012
NFO Closes: September 17, 2012
NFO: Rs 10 per unit
Minimum application: Rs 5000 and in multiples of Rs 10 thereafter.
Benchmark: Crisil Short Term Bond Fund Index.
Managers: Chaitanya Pande.

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