ICICI Prudential Mutual Fund has launched a new closed end income fund -ICICI Prudential Multiple Yield Fund – Series 4 C, with a maturity period of 1,100 days. The primary objective of the Scheme is to seek to generate income by investing in a portfolio of fixed income securities / or debt instruments.
The secondary objective of the Scheme is to generatelong term capital appreciation by investing a portion of the Scheme’s assets in equity & equity elated instruments. The new fund offer is currently open for subscription and closes on June 27, 2013.
Asset Allocation of Scheme..!
The asset allocation of scheme will be in such a way that the objective of the scheme to generate income will be met through investments in a portfolio of fixed income securities / or debt instruments. Hence, the scheme will allocate 75 to 95 per cent of assets in debt securities including government securities, 0 to 20 per cent in money market instruments and 5 % to 25 % in equity or / equity related securities.
The debt portion of the scheme will invest in securities with a view to hold them till the maturity of the Scheme.
For the equity portion of the corpus, the AMC intends to invest in stocks, which will be bought, keeping in mind the time horizon of the plan.
Stock specific risk will be minimized by investing only in those companies that have been thoroughly analyzed by the Fund Management team at the AMC. Mr. Rahul Goswami, will manage the debt portion of investments under the scheme. The equity portion will be managed by Mr. Rajat Chandak.
The AMC will also monitor & control maximum exposure to any one stock or one sector. The minimum investment amount is Rs. 5,000 and in multiples of Rs. 10 thereafter. The Units of the Scheme will be listed on the Bombay Stock Exchange (BSE), where investors can buy or / or sell units at market prices.
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