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Thursday, July 31, 2014

ICICI Prudential Interval Fund Series VIII files offer document with Sebi

A Debt Oriented Interval Fund ICICI Prudential Mutual Fund has filed offer document with Sebi to launch ICICI Prudential Interval Fund Series VIII, a debt oriented interval fund. The New Fund Offer price is Rs 10 per unit. 

Investment objective: The investment objective of the scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities maturing on or before the opening of the immediately following Specified Transaction Period (STP). 

Options/plans: Cumulative, bonus and dividend (payout) options under both regular plan and direct plan. 

Benchmark: 

For Plans wherein the intervening period is from 1 month to 3 months: CRISIL Liquid Fund Index 

For Plans wherein the intervening period is more than 3 months and upto 36 months: CRISIL Short Term Bond Fund Index 

For Plans wherein the intervening period is more than 36 months and upto 60 months: CRISIL Composite Bond Fund Index 

Loads: Nil 

Minimum Application Amount: Rs. 5,000 and in multiples of Rs 10 thereafter. 

Minimum Target Amount: Rs. 20 crore 

Asset Allocation: 

For Plans wherein the intervening period between two STPs is from 1 month and upto 13 months: The scheme shall invest 60-100% in money market instruments and up to 40% in Government Securities issued by Central & / or State Govt. and other fixed income / debt securities* including but not limited to corporate debt and securitised debt. 

For Plans wherein the intervening period between two STPs is more than 13 months and upto 36 months: The scheme shall invest up to 30% in money market instruments and up to 70-100% in Government Securities issued by Central & / or State Govt. and other fixed income / debt securities* including but not limited to corporate debt and securitised debt. 

For Plans wherein the intervening period between two STPs is more than 36 months and upto 60 months: The scheme shall invest up to 20% in money market instruments and up to 80-100% in Government Securities issued by Central & / or State Govt. and other fixed income / debt securities* including but not limited to corporate debt and securitised debt. 

*Debt securities may include securitised debt, which may go upto 25% of the corpus of the Plan. The Plans under the scheme will not have any exposure to derivatives. The scheme will hold securities which mature on or before the opening of the immediately following specified transaction period. 

Fund Manager: Aditya Pagaria
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