ICICI Prudential Mutual Fund has unveiled a new fund named as ICICI Prudential Capital Protection Oriented Fund III - Plan F - 36 Months Plan, a close ended capital protection oriented fund. The tenure of the scheme is 1100 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 February will close on 21 February 2013.
The investment objective of the scheme is to seek to protect capital by investing a portion of the portfolio in highest rated debt securities and money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The securities would mature on or before the maturity of the Plan under 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 80% to 100% of assets in debt securities & money market instruments with low to medium risk profile. On the flipside it would allocate upto 20% of assets in equity and equity related securities with medium to high 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 20 crore under the scheme during the NFO period.
The scheme's performance will be benchmarked against Crisil MIP Blended Index.
Debt portion of the scheme will be managed by Rahul Goswami and equity portion will be managed by Rajat Chandak. The investments of the scheme in ADR/GDR and other foreign securities are being handled by Atul Patel.