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Tuesday, July 28, 2009

ICICI Prud MF notifies some changes

With effect from 1 August 2009

ICICI Prudential mutual fund has notified the following under all the schemes of the fund with effect from 1 August 2009.

Processing of Redemption/Switch/Systematic transaction request(s) where realization status is not available:

The Fund shall place the units allotted to investor on hold for redemption / switch/ systematic transactions till the time the payment is realized towards the purchase transaction(s). The Fund also reserves the right to reject / partially process the redemption/ switch/systematic transaction request, as the case may be, based on the realization status of the units held by the investor.

In both the above cases, intimation will be sent to the investor accordingly. Units which are not redeemed/switched will be processed upon confirmation of realization status and on submission of fresh redemption / switch request.

Reinvestment of dividend payout:

In all open-ended schemes where dividend payout option is available and the dividend payout amount is less than Rs. 100/-, the fund reserves the right to reinvest the payout in the same scheme/option. However, the aforesaid provision shall not be applicable for ICICI Prudential Flexible Income Plan, ICICI Prudential Floating Rate Plan B & Plan D, ICICI Prudential Short Term Plan, ICICI Prudential Ultra Short Term Plan and ICICI Prudential Monthly Income Plan.

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