ICICI Prudential MF has launched ICICI Prudential Booster Systematic Transfer Plan (STP) for allowing investors to make changes to their STP amount to ride the market volatility. It offers the flexibility to invest smaller amounts during high market valuations and higher amounts when the valuations are low.
The plan will allow investing a variable amount in the range of 0.1X to 5X of the base STP amount. For example, if the base STP amount is Rs.1 lakh depending on the market valuation, investors can invest in the range of Rs. 10,000 (0.1X) to Rs. 5 lakh (5X) from one source scheme to a designated target scheme at defined intervals.
Chintan Haria, Head - Product Development & Strategy, ICICI Prudential AMC said, “Booster STP leverages rupee cost averaging and value averaging by staggering investment through dynamic instalment and dynamic tenure.”
