Saturday, July 31, 2010 11:34 Hrs IST

ICICI Prudential MF Unveils Three Year Plan

NFO Period from 9 August to 24 August 2010

ICICI Prudential Mutual Fund has unveiled a new fund named as ICICI Prudential Fixed Maturity Plan – Series 53 – Three Year Plan A, a close ended debt scheme. The tenure of the scheme is 1100 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 9 August and close on 24 August 2010.

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

Presently, two options are available under the scheme viz. cumulative and dividend option. Dividend Payout is the only facility available under dividend option. The cumulative option shall be default option under the scheme.

The scheme will allocate up-to 100% of assets in Central and State Government securities. It would further invest in money market instruments, short term and medium term debt securities / debt instruments and securitized debt with low to medium risk profile.

Entry load and exit load charge are not applicable for the scheme. The units of the scheme are proposed to be listed on NSE.

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 5 crore under the scheme during the NFO period.

The scheme's performance will be benchmarked against Crisil Composite Bond Fund Index.

The scheme will be managed by Mr. Chaitanya Pande.