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Thursday, November 20, 2014

ICICI Prudential Equity Income Scheme Floats On

NFO Period is from 18 November to 02 December 2014 

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Equity Income Scheme, an open ended equity scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue opens for subscription from 18 November to 02 December 2014. 

The Scheme seeks to generate regular income through investments in fixed income securities and using arbitrage and other derivative strategies. The Scheme also intends to generate longterm capital appreciation by investing a portion of the Scheme's assets in equity and equity related instruments 

The scheme offers cumulative option, AEP option (Appreciation & Regular) and dividend option (dividend payout and reinvestment facility). 

The scheme will invest 65%-75% of its assets in equity & equity related instruments with medium to high risk profile, invest 30%-50% of assets in derivatives including index futures, stock futures, index options, stock options etc. with high risk profile and invest 25%-35% in debt, money market instruments & cash including securitized debt of upto 50% of debt portfolio with low to medium risk profile with low to medium risk profile. Investment in derivatives can be upto 50% of the Net Assets of the scheme. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

Entry load: Not Applicable. 

Exit load: If the amount is sought to be redeemed/switched-out upto 18 months from the date of allotment - 1% of the applicable NAV and if the amount is sought to be redeemed/switched-out more than 18 months from the date of allotment – Nil. 

The benchmark for the scheme would be a combination of 30% CNX Nifty + 40% CRISIL Liquid Fund Index + 30% CRISIL Short Term Bond Fund Index. 

The fund managers of the scheme are Sankaran Naren & Chintan Haria (equity portion ) and Manish Banthia (debt portion). The investments under ADRs / GDRs and other foreign securities will be managed by Shalya Shah. 
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