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Thursday, January 08, 2015

ICICI Prudential India Recovery Fund – Series 1 to 3 files offer document with Sebi

A close-ended equity scheme 

ICICI Prudential Mutual Fund has filed offer document with Sebi to launch ICICI Prudential India Recovery Fund – Series 1 to 3, a close-ended equity scheme. The New Fund Offer price is Rs 10 per unit. Each Series under the scheme will have tenure of 3 years to 5 years from the date of allotment of units under the respective Series. 

Investment objective: The investment objective of the Scheme is to provide capital appreciation by investing in equity and equity related securities that are likely to benefit from recovery in the Indian economy. 

Plans/ option(s): Cumulative and dividend (payout) options under both regular plan and direct plan. 
 
Benchmark: S&P BSE 500 Index 

Loads: Nil 

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

Minimum Target Amount: Rs 10 crore 

Asset Allocation: The scheme shall invest 80-100% in equity and equity related instruments and up to 20% in debt, money market instruments and cash. 

Fund Managers: Sankaran Naren and Shalya Shah 
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