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Thursday, January 29, 2009

ICICI Prudential MF files offer document with Sebi

Plans to launch ICICI Prudential Dividend Yield Fund

Name of Fund: ICICI Prudential Dividend Yield Fund

Type of Scheme: It is an open ended equity fund

Investment Objective: ICICI Prudential Dividend Yield Fund seeks to generate long term capital appreciation and / or income distribution by investing predominantly in equity and equity related securities of high dividend yield companies. The balance may be invested in other equity and equity related securities, debt securities and money market instruments as per the allocation pattern.

Investment Options: The Scheme will have two options, viz, retail option and institutional option I. The retail option will have growth and dividend sub-options 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 invests upto 35% in other equity and equity related securities with medium to high risk profile. And the scheme will invest upto 35% in debt and money market instruments including securitised debt of upto 50% of allocation to debt instrument

Equity investment includes derivatives instruments to the extent of 75% of the Net Assets as permitted vide SEBI and Including investment in ADR/GDR up to 50% of allocation to Equity & Equity related securities, being maximum permitted under SEBI Regulations.

NFO price: Rs 10 per unit

Entry Load: For retail plan, 2.25% of exit load will be charged for the subscription less than Rs 2 crore and nil, for the subscription of Rs 2 crore and more. For institutional plan I, no entry load will be charged.

Exit Load: For subscription of less than Rs 2 crore, the scheme will charge an exit load of 1.50% if redeemed on or before completion of 6 months from the date of allotment and 1.00%, if the amount sought to be redeemed on or after 6 months but before 12 months from the date of allotment. If the amount redeemed on or after 12 months, no exit load will be charged. And the scheme will not charge any exit load for the investments of more than Rs 2 crore.

For Institutional plan I, the scheme will not charge any exit load.

Minimum Investment Amount: The minimum investment amount under retail plan will be Rs 5,000 and in multiples of Re.1 thereafter and under institutional plan I, minimum investment amount will be Rs 1 lakh and in multiples of Re.1 thereafter.

Minimum Targeted amount: The Fund seeks to collect a minimum subscription amount of Rs 5 crore during NFO.

Benchmark Index: S&P CNX Nifty.

Fund Manager: Deven Sangoi will manage the fund.

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