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NFO News ICICI Prudential MF launches ICICI Prudential Retirement Fund

ICICI Prudential MF launches ICICI Prudential Retirement Fund

NFO: February 07 to Feb 21, 2019
Team Cafemutual Feb 6, 2019

ICICI Prudential Mutual Fund has launched ICICI Prudential Retirement Fund, an open ended solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier). 

The scheme offers four different options:

  1. Pure Equity Plan - recommended to investors between 25-45 years with an aim to generate long-term capital appreciation and income generation.
  2. Hybrid Aggressive Plan - recommended to investors between the age group of 46 – 50 years with an aim to benefit from asset allocation.
  3. Hybrid Conservative Plan - recommended to investors in the age group of 51 – 55 years with an aim to generate regular income through investments predominantly in debt and money market instruments.
  4. Pure Debt Plan - recommended to investors between 56 – 60 years with an aim to generate income through investing in a range of debt and money market instruments.

Mrinal Singh and Ashwin Jain will manage the equity portion while Manish Banthia and Anuj Tagra will manage the debt portion of the scheme. Also, Priyanka Kandelwal will be looking after the overseas investment for the fund.

In a press release, Nimesh Shah, MD & CEO, ICICI Prudential AMC said, “The retirement fund also aims to address the emerging realities of India where people live long after retirement and also people now aspire to retire earlier than before. Investing in a long-term mutual fund schemes enable in building a good retirement corpus. It also gives flexibility of SWP to meet regular cash flow needs, post retirement.”

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