ICICI Prudential has filed a draft offer document with SEBI for the launch of its close ended Rajiv Gandhi Equity Savings Scheme Fund-Series 1 to 5. The scheme seeks to generate capital appreciation by investing in a portfolio of equity securities which are specified as eligible securities under RGESS. The scheme may also invest a certain portion of its corpus in money market instruments from time to time.
The benchmark of the scheme will be CNX Nifty Index. No exit loads will be charged in the scheme. The scheme will provide tax benefit to the first time investors whose annual income must not exceed Rs 12 Lakh. The minimum application amount is Rs 5000. The scheme will be managed by Chintan Haria.
