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ICICI Pru MF Gets NFO-Happy

The third-largest fund house in India has lined up two new fund offerings (NFOs)

ICICI Prudential Mutual Fund, after having tasted success with its Rs 800-crore generating Target Return Fund, has come up with two new open-end fixed income schemes, ICICI Prudential Ultra Short Term Plan and ICICI Prudential Medium Term Plan.

ICICI Pru Medium Term Plan aims at generating regular income while its secondary objective will be growth of capital. It will be investing a minimum of 60 per cent in debt securities, while 40 per cent of its assets can be invested in money market securities.

The other fund, ICICI Pru Ultra Short Term Plan is a liquid fund that aims at generating regular income through investments in a portfolio of debt and money market securities of very short maturities while ensuring safety and liquidity of investment.

Fund Manager
The fund manager for both the schemes will be Chaitanya Pande. He holds PGDM from IMI, New Delhi and has 13 years of experience in fund management. He is currently managing the fixed maturity plans and other debt funds of the fund house.

Fund Family
ICICI Prudential Mutual Fund is the third-largest fund house in India and has 82 per cent of its assets in debt funds. It has 15 existing open-end debt schemes.

Check out:
ICICI Prudential Snapshot



Basic Details
ICICI Pru Ultra Short Term PlanICICI Pru Medium Term Plan
TypeOpen-end Income SchemeOpen-end Income Scheme
NFO PeriodJune 10, 2009 - June 11, 2009June 10, 2009 - June 11, 2009
Minimum Application AmountRegular: Rs 5,000/-
Premium: Rs 50 lakh
Premium Plus: Rs 5 Crore
Super Premium: Rs 20 Crore
Regular: Rs 5,000/-
Premium: Rs 50 lakh
Premium Plus: Rs 5 Crore
Plans / OptionsGrowth, Dividend (daily, weekly, fortnightly, monthly and quarterly)Growth, Dividend (monthly and quarterly)
Minimum Additional PurchaseRs 1,000/-Rs 1,000/-
BenchmarkCrisil Short Term Bond Fund IndexCrisil Composite Bond Fund Index
Asset AllocationMoney Market Instruments: 20% - 100%
Debt Securities: 0 - 80%
Money Market Instruments: 0 - 40%
Debt Securities: 60% - 100%
Load StructureEntry Load: Nil
Exit Load: 0.25% if redeemed within 7 days.
Entry Load: Nil
Exit Load: 0.50% if redeemed within 180 days (Regular Plan).
Annual Recurring Expenses (max.)2.25%2.25%