ICICI Prudential FMP -Series 87 – 1174 Days Plan B NFO period from Jan 15 to Jan 29:
ICICI Prudential Mutual Fund introduced a new fund offer (NFO). The NFO is ICICI Prudential FMP-Series 87 – 1174 Days Plan B. It was a Closed-Ended Debit Scheme. The NFO period will start on 15th Jan and it will be closed on 29th Jan 2020.
|Fund Name||ICICI Prudential FMP-Series 87 – 1174 Days Plan B|
|Fund House||ICICI Prudential Mutual Fund|
|NFO Period||Jan 15 to Jan 29, 2020|
|Benchmark||CRISIL Medium Term Debt Index|
The benchmark of the NFO is CRISIL Medium Term Debt Index. The scheme offers a tenure of 1175 days. Moreover, it plans to raise Rs 20 cr through this NFO.
According to the draft papers, the minimum amount of investment should be Rs 5,000 and in multiples of Rs 10 thereafter. And the price of this NFO is Rs 10 per unit.
Entry load and exit load:
The ICICI Prudential FMP doesn’t contain any entry load.
Before the scheme listed on any stock exchange, nil exit load charges will apply.
Objectives of NFO:
This NFO planned to utilize the raise amount to invest in the fixed income securities portfolio, to produce revenue.
|Instruments||Allocation (%of total assets)||Risk Profile|
|Debt instruments with government securities||80% to 100%||Low-Medium|
|Money market instruments||0% to 20%||Low-Medium|
ICICI Prudential Asset Management Company acts as an asset management company to this fund. Similarly, the ICICI Prudential Trust Limited is the Trustee for this fund. The NFO may be listed on the Bombay Stock Exchange (BSE).
Disclaimer: This post denotes information about the scheme. It does not give any advice or recommendation. Please read the offer document carefully before investing.