Tuesday, March 09, 2010 11:05 Hrs IST

ICICI Pru MF Unveils 14 Months Plan

NFO Period from 9 March to 11 March 2010

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 51 – 14 Months Plan D, a close ended debt scheme. The tenure of 14 Months Plan D is 431 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 9 March and closes on 11 March 2010.

The investment objective of the Plan under 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 plan / scheme.

Presently, two options are available under the plan of 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 scheme is proposed to be listed on NSE.

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

The fund seeks to collect a minimum subscription amount of Rs 5 crore under 14 Months Plan D 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.