Mumbai: ICICI Prudential Mutual Fund has revised the exit load structure in ICICI Prudential Ultra Short Term Plan with effect from March 24, 2011. The fund house will charge 0.25 per cent as exit load if units are redeemed within 15 days from the date of allotment. The scheme earlier charged 0.25 per cent as exit load if units were redeemed within 30 days from the date of allotment.
ICICI Prudential Ultra Short Term Plan is an open ended income scheme with the investment objective to generate regular income through investments in a basket of debt and money market instruments of very short maturities with a view to providing reasonable returns, while maintaining an optimum balance of safety, liquidity and yield. The scheme is managed Chaitanya Pande. It is benchmarked against Crisil Short Term Bond Fund Index.