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Thursday, November 20, 2014

ICICI Prudential Fixed Maturity Plan – Series 75 – 1246 Days Plan U Floats On

NFO period is from 19 November to 26 November 2014 

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 75 – 1246 Days Plan U, a close ended debt scheme. The tenure of the scheme is 1246 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue opens for subscription from 19 November to 26 November 2014. 

The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme. 

Presently, two options are available under the scheme viz. cumulative and dividend with only dividend payout option. 

The scheme will invest 80%-100% of its assets in debt instruments including securitized debt and invest upto 20% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and if a plan decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the Plan. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period. 

The scheme is proposed to be listed on NSE. 

Entry load and exit load charge are not applicable for the scheme. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

The fund managers of the scheme are Rahul Bhuskute and Nikhil Paranjape. 
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