ICICI Prudential Mutual Fund has unveiled a new fund named as ICICI Prudential Fixed Maturity Plan - Series 59 - 1 Year Plan F, a close ended debt scheme. The tenure of the scheme is 367 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue which is open for subscription from 12 December will close on 19 December 2011. The investment objective of the scheme is to generate fixed income returns by investing in a portfolio of fixed income securities/ debt instruments maturing on or before the date of maturity of the scheme.
Presently, two options are available under 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 upto 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 BSE.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 5 crore under the scheme during the NFO period.
The schemes performance will be benchmarked against Crisil Short Term Bond Fund Index.
The scheme will be managed by Mr. Chaitanya Pande.
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