ICICI Pru MF unveils Multiple Yield Fund

Mutual Funds

oi-Monika

By Monika Nihalani

Published: Monday, November 28, 2011, 15:07 [IST]

ICICI Prudential Mutual Fund has unveiled a New Fund Offer (NFO), namely, ICICI Prudential Multiple Yield Fund Series 2 - Plan A. It's a close-ended debt scheme.

The tenure of the scheme is 1100 Days. The issue price offered for the scheme is Rs 10 per unit and the scheme is proposed to be listed on NSE.

Investment Objective:
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 targets to raise a minimum subscription of Rs 20 crore under the scheme during the NFO period.

Allocation of funds:
The scheme will allocate upto 65%-100% of assets in Short term and medium term debt securities/ debt instruments and securitized debt and upto 10% 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.

The scheme shall not invest in Central and State Government Securities. The cumulative gross exposure through equity, debt and derivative positions shall not exceed 100% of the net assets of the scheme.

Fund Managers:
Debt portion of the scheme will be managed by Chaitanya Pande and equity portion of the scheme will be managed by Mr. Mrinal Singh. The investments of the scheme in ADR/GDR and other foreign securities will be handled by Rajat Chandak.

Basic Details:
NFO Opens: November 23, 2011
NFO Closes: December 2, 2011
NFO Price: Rs 10 per unit
Options: Cumulative and Dividend Payout
Minimum Application Amount: Rs 5,000 per application and additional Rs. 10, thereafter
Exit Load: Nil
Benchmark: Crisil MIP Blended Index

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