ICICI Pru MF launches Multiple Yield Fund - Series 7 -1100D

ICICI Prudential Mutual Fund launches ICICI Prudential Multiple Yield Fund - Series 7 - Plan F, a close ended income fund with the objective to seek to generate returns by investing in a portfolio of fixed income securities/ debt instruments.

ICICI Prudential Mutual Fund has launched a new fund as ICICI Prudential Multiple Yield Fund - Series 7 - Plan F, a close ended income fund. The tenure of the plan is 1100 days from the date of allotment of units. 

The primary objective of the scheme is to seek to generate returns by investing in a portfolio of fixed income securities/ debt instruments. The secondary objective of the scheme is to generate long term capital appreciation by investing a portion of the scheme's assets in equity and equity related instruments. 

The new fund offer (NFO) will open for subscription from September 23, to October 07, 2014. The new fund offer price for the scheme is Rs 10 per unit. The scheme is proposed to be listed on NSE. 

The scheme offers direct and regular plan. Each plan will offer cumulative and dividend option. Dividend payout is the only facility available under dividend option. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.

The entry and exit load charge are not applicable for the scheme 

The scheme will allocate 70% to 95% of assets in debt securities (including government securities) with low to medium risk profile. It would allocate upto 20% of assets in money market instruments, cash and cash equivalents with low to medium risk profile and it would allocate 5% to 30% of the asset in equity or equity related securities with medium to high risk profile. 

Of the investments in debt instruments, 82%-87% would be invested in AA rated non convertible debentures. 

The benchmark index for the scheme will be CRISIL MIP Blended Index.

 The fund managers for the scheme are Rajat Chandak equity portion, Rahul Goswami and Aditya Pagaria will jointly manage the debt portion and Abhishek Pathak for ADRs/GDRs and other foreign securities.

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