ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Multiple Yield Fund - Series 9 - 1140 Days Plan A, a close ended income fund.
The tenure of the plan is 1140 days from the date of allotment of units. The new fund offer price for the scheme is Rs 10 per unit.
The new issue will open for subscription from 25 March to 6 April 2015.
The primary objective of the scheme is to seek to generate returns by investing in a portfolio of fixed income securities / or debt instruments. The secondary objective of the scheme is to generate long term capital appreciation by investing a portion of the scheme's assets in equity and equity related instruments.
The scheme offers direct and regular plan. Each plan will offer cumulative and dividend option.
Dividend payout is the only facility available under dividend option.
The scheme will allocate 65% to 95% of assets in debt securities (including government securities) with low to medium risk profile.
It would allocate upto 30% of assets in money market instruments, cash and cash equivalents with low to medium risk profile and it would allocate 5% to 35% of the asset in equity or equity related securities with medium to high risk profile.
Of the investments in debt instruments, 84% to 89% would be invested in AA rated non convertible debentures.
The minimum application amount is Rs. 5000
The Fund is proposed to be listed on NSE.
Entry load & exit load charge are not applicable for the scheme.
The benchmark index for the scheme will be CRISIL MIP Blended Index.
The equity portion will be managed by Mr. Vinay Sharma. Mr. Rahul Goswami and Mr. Chandni Gupta will jointly manage the debt portion of investments under the scheme.
The investments under the ADRs / or GDRs & other foreign securities will be managed by Mr. Shalya Shah.
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