ICICI Prudential MF launches “ICICI Prudential Fixed Maturity Plan - Corporate
Bond Series B - 1100 Days”; NFO to
04/08/2014 11:32
ICICI Prudential Mutual Fund has launched a new close ended debt scheme named “ICICI Prudential Fixed Maturity Plan - Corporate Bond Series B - 1100 Days” with maturity period of 1100 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 August 1 and will close on August 8. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be 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 payout option. The performance of the scheme will be benchmarked against Crisil Short Term Bond Fund Index. Rahul Bhuskute and Nikhil Paranjape will be the Fund Managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate income with capital growth will be met by investments in a portfolio of corporate bond securities. Hence, the scheme will allocate 75 to 80 per cent of asset in “A” rated NCDs and 20 to 25 per cent of asset in unrated NCDs
04/08/2014 11:32
ICICI Prudential Mutual Fund has launched a new close ended debt scheme named “ICICI Prudential Fixed Maturity Plan - Corporate Bond Series B - 1100 Days” with maturity period of 1100 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 August 1 and will close on August 8. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be 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 payout option. The performance of the scheme will be benchmarked against Crisil Short Term Bond Fund Index. Rahul Bhuskute and Nikhil Paranjape will be the Fund Managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate income with capital growth will be met by investments in a portfolio of corporate bond securities. Hence, the scheme will allocate 75 to 80 per cent of asset in “A” rated NCDs and 20 to 25 per cent of asset in unrated NCDs
