ICICI Prudential Mutual Fund has withdrawn the scholarship benefit hitherto offered under the ICICI Prudential Child Care Plan. Marketed as a hybrid scheme, the ICICI Prudential Child Care Plan was launched in the year 2001.
As per the plan information document, a scholarship programme was launched for benefit of unit holders. While industry experts have no clue why the scholarship was being discontinued.
ICICI Pru.Care Plan is an open-ended scheme comprising 2 investment plans study & gift plans, seeking to generate regular returns and capital appreciation respectively through investments in debt and money market instruments, equity and equity-related instruments.
The ICICI Pru. Child Care Plan (Gift Plan) managed assets of about Rs. 165 crore at the end of September 2011, while the ICICI Pru. Child Care Plan (Study Plan) managed nearly Rs. 35 crore.
ICICI Pru. AMC ( Asset Management Company) had set up a trust ICICI Pru. Young Student Education Trust, to institute and administer this scholarship scheme for deserving and meritorious students, with an initial corpus of Rs 5 lakh. The AMC contributed each year an amount equivalent to 0.10 per cent of average net assets of the plans under this scheme. Scholarships were awarded to eligible, selected students based on the criteria laid down by the trustees of the trust for the scholarship scheme.
As per the plan information document, a scholarship programme was launched for benefit of unit holders. While industry experts have no clue why the scholarship was being discontinued.
ICICI Pru.Care Plan is an open-ended scheme comprising 2 investment plans study & gift plans, seeking to generate regular returns and capital appreciation respectively through investments in debt and money market instruments, equity and equity-related instruments.
The ICICI Pru. Child Care Plan (Gift Plan) managed assets of about Rs. 165 crore at the end of September 2011, while the ICICI Pru. Child Care Plan (Study Plan) managed nearly Rs. 35 crore.
ICICI Pru. AMC ( Asset Management Company) had set up a trust ICICI Pru. Young Student Education Trust, to institute and administer this scholarship scheme for deserving and meritorious students, with an initial corpus of Rs 5 lakh. The AMC contributed each year an amount equivalent to 0.10 per cent of average net assets of the plans under this scheme. Scholarships were awarded to eligible, selected students based on the criteria laid down by the trustees of the trust for the scholarship scheme.
No comments:
Post a Comment