ICICI Prudential Mutual Fund launched a new close ended income scheme named “ICICI Prudential Fixed Maturity Plan-Series 64-367 Days Plan L”, with maturity of 367 days. The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription today and will close on September 24.
According to the offer document filed with SEBI, the entry load was not applicable and exit load was nil, implying units of Scheme will be listed on the Stock Exchange. The minimum application amount was Rs 5,000 and thereafter Rs 10. The two options available under the Plan of the Scheme viz. Cumulative and Dividend payout option only. The scheme will be standardize against CRISIL Short Term Bond Fund Index and Chaitanya Pande.
The asset allocation of scheme will be in such a way that the objective of the scheme to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the Scheme, will be met. Hence, the scheme will allocate up to 100 per cent in money market instruments.