ICICI Prudential MF launches Multiple Yield - Plan B

ICICI Prudential Mutual Fund has launched a new fund as ICICI Prudential Multiple Yield Fund - Plan B, a close ended income fund. The tenure of the plan in days is 1100 days. The New Fund Offer price for the scheme is Rs 10 per unit.

The primary objective of the Plan under 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. (View - New Fund Offers open NOW)

The New Fund Offer (NFO) is open for subscription from June 15, and closes on June 29, 2011. Being a close-ended fund the Plans under the Scheme will not reopen for subscriptions. The Scheme is proposed to be listed on National Stock Exchange of India Limited

The scheme offers cumulative and dividend option. Dividend Payout is the only facility available under dividend option. Dividend option will have half yearly dividend frequency. The Cumulative Option shall be the default option under the Plan of the Scheme.

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

Entry and exit load will be nil.

The scheme would allocate up to 70%-100% of assets in money market instruments, Short term and medium term debt securities/ debt instruments and securitised debt and up to 30% of the asset in equity or equity related securities.

If the Plan decides to invest in securitised debt, it could be upto 50% of the corpus of the Plan.

If the plan decides to invest in equity derivatives it could be upto 100% of the allocation to equity. The margin money requirement for the purpose of derivative exposure may be held in the form of term deposits. The Scheme shall not take leverage positions and total investments, including investments in equity and other securities and gross exposure to derivatives, if any, shall not exceed net assets under management of the scheme.

If the plan decides to invest in foreign securities it could be upto 100% of the allocation to equity.

The benchmark index for the scheme will be Crisil MIP Blended Index.

The scheme will be managed by Mr. Chaitanya Pande.

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