The close ended scheme opens for subscription on June 3
Mumbai: ICICI Prudential Mutual Fund has launched a close ended capital protection oriented fund called ICICI Prudential Capital Protection Oriented Fund –
Series I – 24 Months plan. The tenure of the fund will be 735 days from
the date of allotment. The new fund offer will be open from June 3, 2011
to June 17, 2011.
The investment objective of the scheme is to protect capital by investing a portion
of the portfolio in good quality debt securities and money market instruments
and also to provide capital appreciation by investing the balance in equity and
equity related securities. The scheme would allocate 88 to 100 per cent of asset in debt
securities & money market instruments with low to medium risk profile. It would further allocate
up to 12 per cent of assets in equity & equity related instruments with
medium to high risk profile.
The minimum application amount will be
Rs 5,000 and the scheme will not charge any exit load. The scheme will be
jointly managed by Chaitanya
Pande (Debt Portion) & Mrinal Singh (Equity Portion). It will be benchmarked against Crisil
MIP Blended Index.
