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Wednesday, January 07, 2009

ICICI Prudential MF files offer document with Sebi

Plans to launch ICICI Prudential Target Returns Fund

Name of Fund: ICICI Prudential Target Returns Fund

Type of Scheme: It is an open ended Diversified Equity Fund

Investment Objective: To generate capital appreciation by investing in equity or equity related securities of large market capitalization companies constituting the BSE 100 index and providing investors with options to withdraw their investment automatically based on triggers for preset levels of return as and when they are achieved

Investment Options: The Scheme will have two options, viz, Retail Option and Institutional Option I. The Retail Option will have Growth and Dividend suboptions with Dividend Payout and Dividend Reinvestment facilities available under dividend sub option. Institutional Option I will have Growth sub-option only.

Asset Allocation: The scheme will invest 65%-100% in the equity & equity related Securities*. It may invest upto 35% in the debt and money market instruments #.

#*Including derivatives instruments to the extent of 75% of the Net Assets as permitted vide SEBI Circular no. DNPD/Cir 29/2005 dated 14 September 2005 and SEBI Circular No. DNPD/Cir-30/2006 dated 20 January 2006 and SEBI circular No DNPD/Cir-31/2006 dated 22 September 2006. The margin money requirement for the purpose of derivative exposure will be as per the SEBI Regulations.

*Including investment in ADR/GDR up to 50% of allocation to Equity & Equity related securities maximum to the extent permitted under SEBI Regulations.

*Stock lending upto 30% of the Net Asset of the Scheme.

NFO price: Rs 10 per unit

Entry Load: Retail Option: (a) For an Investment of less than Rs. 2 crore: 2.25% of the applicable NAV. (b) For an Investment of Rs. 2 crore and above: Nil.

Institutional Option I: Nil

Exit Load: Retail Option:

(a) For an Investment of less than Rs. 2 crore: (i) If the amount sought to be redeemed before 6 months from the date of allotment : 1.5% of the applicable NAV. (ii) if the amount sought to be redeemed on or after 6 months but before 12 months from the date of allotment : 1% of the applicable NAV. (iii) If the amount redeemed on or after 12 months - Nil

(b) For Investment of Rs. 2 crore and above: Nil

Institutional Option I: Nil

Minimum Application Amount: Retail Option: Rs. 5000/- (plus in multiples of Re. 1 thereafter). Institutional Option I: Rs. 100,000/- (plus in multiples of Re.1 thereafter)

Minimum Targeted amount: During the New Fund Offer period of the Plans under the Scheme, each Plan seeks to raise a minimum subscription of Rs. 1 crore.

Benchmark Index: BSE 100 Index

Fund Manager: Sanjay Parekh will manage the fund.

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