ICICI Prudential Mutual Fund has unveiled a close-ended capital protection-oriented fund, called ICICI Prudential Capital Protection Oriented Fund - Series I - 24 Months Plan.
The tenure of the scheme is 735 Days. The new fund offer price for the scheme is Rs 10 per unit. The new issue will be open for subscription on June 3 and close on June 17.
The investment objective of the plan under the scheme is to seek to protect capital by investing a portion of the portfolio in good quality debt securities and money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The securities would mature on or before the maturity of the Plan under the scheme.
At present, two options are available under the scheme -- cumulative and dividend options. The dividend payout option is the only facility available under dividend option. The cumulative option shall be default option under the scheme.
The scheme will allocate upto 88% to 100% of assets in debt securities & money market instruments with low to medium risk profile. On the flipside it would allocate upto 12% of assets in equity and equity related securities with medium to high risk profile.
Entry load and exit load charge are not applicable for the scheme. The scheme is proposed to be listed on NSE. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The fund seeks to collect a minimum subscription amount of Rs 25 crore under the scheme during the NFO period.
The scheme's performance will be benchmarked against Crisil MIP Blended Index. The debt portion of the scheme will be managed by Chaitanya Pande while the equity portion will be managed by Mrinal Singh.
Source: http://www.moneyguruindia.com/article.php?cid=1270&id=3
The tenure of the scheme is 735 Days. The new fund offer price for the scheme is Rs 10 per unit. The new issue will be open for subscription on June 3 and close on June 17.
The investment objective of the plan under the scheme is to seek to protect capital by investing a portion of the portfolio in good quality debt securities and money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The securities would mature on or before the maturity of the Plan under the scheme.
At present, two options are available under the scheme -- cumulative and dividend options. The dividend payout option is the only facility available under dividend option. The cumulative option shall be default option under the scheme.
The scheme will allocate upto 88% to 100% of assets in debt securities & money market instruments with low to medium risk profile. On the flipside it would allocate upto 12% of assets in equity and equity related securities with medium to high risk profile.
Entry load and exit load charge are not applicable for the scheme. The scheme is proposed to be listed on NSE. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The fund seeks to collect a minimum subscription amount of Rs 25 crore under the scheme during the NFO period.
The scheme's performance will be benchmarked against Crisil MIP Blended Index. The debt portion of the scheme will be managed by Chaitanya Pande while the equity portion will be managed by Mrinal Singh.
Source: http://www.moneyguruindia.com/article.php?cid=1270&id=3
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