September 21, 2011 / 12:42 IST
ICICI Prudential Mutual Fund has launched ICICI Prudential Regular Gold Savings Fund, an open ended Fund of Funds scheme. The primary objective to generate returns by investing in units of ICICI Prudential Gold Exchange Traded Fund.
The New Fund Offer (NFO) open for subscription from September 20, and will close on October 4, 2011. The new issue price for the scheme is Rs 10 per unit.
The scheme offers growth option and dividend option. Dividend option will have dividend payout and dividend reinvestment facilities.
The minimum investment amount is Rs 5000 and in multiples of Rs 1 thereafter. Additional investment amount is Rs 1000 and in multiples of Rs 1 thereafter. Though SIP route, investors can begin investment with as low as Rs 1000.
Entry load charge - nil. Exit load 2% of the applicable NAV, if the amount sought to be redeemed or switched out is invested for a period of upto one year from the date of allotment.
The scheme would allocate 95% to 100% of assets in units of ICICI Prudential Gold Exchange Traded Fund and upto 5% of assets in Debt & Money Market Instruments (including cash & cash equivalent and Liquid/Debt Funds).
The scheme' performance will be benchmarked against the domestic price of gold.
The Fund Manager for the scheme will be Mr. Chaitanya Pande.
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