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Tuesday, March 17, 2009

ICICI Pru Flexible Income Plan introduces regular option

With effect from 18 March 2009

ICICI Prudential Mutual fund has introduced regular option under ICICI Prudential Flexible Income Plan (IPFIP), with effect from 18 March 2009.

The minimum application amount under the regular option will be Rs 15000 and in multiples of Re 1 thereafter, the minimum addition subscription amount is Rs 1000 and minimum redemption amount is Rs 1000.

The scheme will not charge any entry nor exit load for the investments under regular option.

The scheme offers growth and dividend sub-option. The dividend option offers reinvestment facility. It will be declared daily and weekly intervals to the investor.

There are three options available under the scheme viz. Premium option with growth and dividend sub-option, regular option with growth and dividend sub-option and Institutional Option I.

IPFIP is an open ended income fund with the objective to generate income through investments in a range of debt instruments and money market instruments of various maturities with a view to maximizing income while maintaining the optimum balance of yield, safety and liquidity.

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