New Close Ended Scheme launched by ICICI Prudential Mutual Fund
20/03/2015 10:57
ICICI Prudential Mutual Fund has launched a new close ended equity scheme named “ ICICI Prudential India Recovery Fund - Series 2” with maturity period of 1281 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 March 18 and will close on April 01. 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 also be 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 option available under the plan of the scheme is Dividend option. The performance of the scheme will be benchmarked against S &P BSE 500 Index. Mrinal Singh, Rajat Chandak and Shalya Shah 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 provide capital appreciation will be met by investing in equity and equity related securities that are likely to benefit from recovery in the Indian economy. Hence, the scheme will allocate 80 to 100 per cent of asset in Equity and Equity Related Instruments and 0 to 20 per cent of asset in Debt, Money Market Instruments and Cash.
20/03/2015 10:57
ICICI Prudential Mutual Fund has launched a new close ended equity scheme named “ ICICI Prudential India Recovery Fund - Series 2” with maturity period of 1281 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 March 18 and will close on April 01. 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 also be 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 option available under the plan of the scheme is Dividend option. The performance of the scheme will be benchmarked against S &P BSE 500 Index. Mrinal Singh, Rajat Chandak and Shalya Shah 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 provide capital appreciation will be met by investing in equity and equity related securities that are likely to benefit from recovery in the Indian economy. Hence, the scheme will allocate 80 to 100 per cent of asset in Equity and Equity Related Instruments and 0 to 20 per cent of asset in Debt, Money Market Instruments and Cash.
