MUMBAI: ICICI Prudential Mutual Fund has revised exit load in ICICI Prudential Ultra Short Term Fund with effect from January 7, 2011. The fund house will charge 0.25 per cent as exit load if units are redeemed within 30 days from the date of allotment. The scheme earlier charged 0.25 per cent as exit load if units were redeemed within 21 days from the date of allotment.
ICICI Prudential Ultra Short Term is an open ended income scheme, with 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 by Chaitanya Pande and is benchmarked against Crisil Short Term Bond Fund Index.
