ICICI Prudential Mutual Fund has launched a new close ended capital protection oriented fund scheme named "ICICI Prudential Capital Protection Oriented Fund - Series VIII - 1101 Days Plan G" with maturity period of 1101 days from the date of allotment.
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on July 25 and will close on August 08.
According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be also not applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Cumulative and Dividend option.
The performance of the scheme will be benchmarked against CRISIL MIP Blended Index. Rahul Goswami, Vinay Sharma, Shalya Shah and Chandni Gupta will be the fund managers of the scheme.
The asset allocation of the scheme will be in such a way that the objective of the scheme to protect capital and provide capital appreciation will be met by investing a portion of the portfolio in highest rated debt securities and money market instruments and investing the balance in equity and equity related securities. Hence, the scheme will allocate 70 to 100 per cent of asset in Debt Instruments including Money Market Instruments and 0 to 30 per cent of asset in Equity and Equity related Securities.