ICICI Prudential Mutual Fund files offer document for its ICICI Prudential Hybrid Savings Fund
ICICI Prudential Mutual Fund has filed a draft offer document with SEBI for its open ended equity scheme called - ICICI Prudential Hybrid Savings Fund.
The Scheme seeks to generate regular income through investments in fixed income securities and using arbitrage and other derivative strategies and also intends to generate long term capital appreciation by investing in equity and equity related instruments.
The scheme will be investing 65-75% in Equity & Equity related instruments, 30-50% in derivatives including Index futures, Stock futures, Index options, stock options and 25-40% in debt, money market instruments and cash.
The Scheme will be benchmarked against a combination of 30% CNX Nifty + 40% CRISIL Liquid Fund Index + 30% CRISIL Short Term Bond Fund Index. The exit load if redeemed within 1 year from the date of allotment will be 1% and if redeemed after 1 year from the date of allotment will be Nil.
The equity portion of the fund will be managed by Mittul Kalawadi, debt portion will be managed by Manish Banthia and Ashwin Jain will manage investments in ADR/GDR and other foreign securities.
