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Thursday, September 24, 2015

ICICI Prudential Business Cycle Fund – Series 1 Floats On

NFO period is from 18 September to 30 September 2015 

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Business Cycle Fund – Series 1, a close ended equity scheme. The tenure of the scheme is 1281 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 18 September to 30 September 2015. 

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 option with only dividend payout sub-option. 

The scheme will invest 80%-100% of its assets in equity & equity related instruments with medium to high risk profile and invest upto 20% of assets in debt, money market instruments and cash with low to medium risk profile. The investment in derivatives can be upto 50% of the Net Asset of the scheme. 

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 10 crore under the scheme during the NFO period. 

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

Benchmark Index for the scheme is S&P BSE 500 Index. 

The scheme will be jointly managed by Mrinal Singh and Pushipinder Singh. The investments under ADRs/GDRs and other foreign securities will be managed by Shalya Shah. 
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