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
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