ICICI Prudential Mutual Fund has filed an offer document with SEBI to launch ICICI Prudential Fixed Maturity Plan Fixed Maturity Plan – Series 6 – Series 65, a close ended debt fund.
The investment objective of the scheme will be to generate income by investing in a portfolio of fixed income securities and debt instruments maturing on or before the maturity of the plans under the scheme.
The scheme’s asset allocation will be on the basis of the duration of maturity of the plans. For plans with duration from 3 months and up to 13 months, 100% of total assets will be allocated to money market instruments. For plans with duration of more than 13 months and up to 36 months a minimum of 50% will be allocated to debt instrument including securitized debt and a maximum of 50% to money market instruments. For plans with duration of more than 36 months and up to 60 months a minimum of 70% will be allocated to debt instrument including securitized debt and a maximum of 30% to money market instruments.
The scheme offers a cumulative option and a dividend payout option. Half yearly dividend payout frequency will be available for plans with maturity of more than one year.
The benchmark for plans with duration from 3 months and up to 36 months will be the CRISIL Short Term Bond Fund Index. For plans with duration of more than 36 months and up to 60 months, CRISIL Composite Bond Fund Index will be the benchmark.
Mr. Chaitanya Pande, will manage the investments under the scheme.
