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Monday, September 29, 2014

ICICI Prudential Equity Advantage Fund – Series 1 to 8 files offer document with Sebi

A close-ended equity scheme 

ICICI Prudential Mutual Fund has filed offer document with Sebi to launch ICICI Prudential Equity Advantage Fund – Series 1 to 8, a close-ended equity scheme. The New Fund Offer price is Rs 10 per unit. The scheme has series 1 to 8. Each Series under the scheme will have tenure between 3 years to 10 years from the date of allotment of units under the respective Series. 

Investment objective: The scheme seeks to provide capital appreciation and income distribution to the investors by investing in equities, fixed income securities and using equity derivatives strategies & arbitrage opportunities. 

Options/plans: Cumulative and dividend (payout with monthly and quarterly frequencies) options under both regular plan and direct plan. 

Benchmark: CRISIL Balanced Fund Index. 

Loads: Nil 

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

Asset Allocation: The scheme shall invest 65-80% in equity and equity related instruments, 15-50% in derivative including index futures, stock futures, index options, stock options etc. and 20-35% in debt, money market instruments and cash. Investment in derivatives can be upto 50% of the net assets of the scheme. Investment in securitized debt can be upto 50% of debt allocation of the scheme. 

Fund Managers: S Naren and Rahul Goswami. The investments under ADRs/GDRs and other foreign securities will be managed by Ashwin Jain. 
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