ICICI MF commences Quarterly Interval Fund

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Updated: 27/08/2008 | 12:00 AM IST

Mutual fund

Capital Market

Wednesday, August 27, 2008 (New Delhi)

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ICICI Mutual Fund unveiled ICICI Prudential Interval Fund IV - Quarterly Interval Plan A on 26 August 2008. The new issue will be closed for subscription on 27 August 2008. The NFO price of the fund is Rs 10 per unit.

It is a debt oriented interval fund. The investment objective of the plan is to seek to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan.

Presently there are two options available under the scheme viz. retail option and institutional option. Cumulative and dividend sub-options are available under the scheme.

The fund will have exposure 30-100% in money market instruments. Investment in government securities issued by Central /or state govt. and other fixed income / debt securities including but not limited to corporate debt and securitised debt will be 0-70%.

Debt securities may include securitised debt, which may go up to 70% of the portfolio and derivative instruments to the extent of 50% of the net assets of the scheme. The scheme will hold securities of residual maturity of up to 90 days for the quarterly plan.

No entry load will be charged under the scheme. Being an open-ended scheme; investors can subscribe to the units of the plan under the scheme during the New Fund offer period and during the specified transaction period only.

The scheme will not ask exit load if redemption is done during specified transaction period. It may charge exit load of 0.5% of the applicable NAV if redeemed at anytime other than the specified transaction period.

The minimum investment amount under retail plan is Rs. 5000 and in multiples of Re. 1 thereafter. Investors under institutional plan will have to invest minimum of Rs 2 crore and in multiples of Re. 1 thereafter.

The performance of the scheme will be against CRISIL Liquid Fund Index. The fund manager for the scheme will be Chaitanya Pande.

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