ICICI Prudential MF India Recovery Fund - Series 6, a close ended equity scheme

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential MF India Recovery Fund - Series 6, a close ended equity scheme. The tenure of the plan is 1100 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 28 May to 8 June 2016.

The investment objective of the Scheme is to provide capital appreciation by investing in equity and equity related securities that are likely to benefit from recovery in the Indian economy.

The scheme offers cumulative and dividend (payout) options under both regular plan and direct plan.
The scheme shall invest 80 to 100% in equity and equity related instruments with medium to high risk profile and up to 20% in debt, money market instruments and cash with low to medium risk profile.
The minimum application amount is Rs. 5,000 .

The benchmark index for the scheme will be S&P BSE 500 Index.

The fund managers of the scheme are Manish Gunwani and Rajat Chandak. The investments under the ADRs/GDRs and other foreign securities will be managed by Shalya Shah.

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