ICICI Prudential MF launches Multiple Yield Fund Plan A
ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Multiple Yield Fund Plan A, a 1100 days closed ended income fund, that seek to generate returns by investing in a portfolio of fixed income securities/ debt instruments.
ICICI Prudential Mutual Fund has launched new fund as ICICI Prudential Fixed Multiple Yield Fund Plan A, a closed ended income fund. The tenure of the plan in days is 1100 days. 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.
The New Fund Offer (NFO) is open for subscription from May 20, and closes on May 31, 2011. The New Fund Offer price for the scheme is Rs 10 per unit. (View - New Fund Offers open NOW)The scheme offers cumulative and dividend option. Dividend Payout is the only facility available under dividend option. The default option shall be cumulative option under the scheme. Entry load and exit load charge are not applicable for the scheme. The scheme is proposed to be listed on NSE. The scheme will allocate upto 70%-100% of assets in money market instruments, Short term and medium term debt securities/ debt instruments and securitised debt and invest upto 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. For more Mutual Fund News click here Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
