ICICI Prudential Mutual Fund has launched an open-end fund -- ICICI Prudential Banking and Financial Services Fund.
The fund will follow a bottom-up approach to build a stock portfolio of banks and all other financial services company including broking companies, asset management companies, insurance companies and NBFCs. The equity exposure can range between 30-70% of its portfolio and upto 30% can be in debt instruments including securitised debt and derivates.
Scheme Details
Type: An open-ended equity scheme
NFO opened: July 09, 2008
NFO closes: August 07, 2008
Entry Load:
Retail investors: 2.25% for investment of less than Rs 5 crore and no-entry load for for investment above Rs 5 Crore.
Institutional Investors: Nil
Exit Load:
Retail Investors: Investment below Rs 5 crore will attract an en exit load of 1% for redemption within 6-months. There is no exit load for investment above Rs 5 crore.
Institutional Investor: Nil
Minimum Investment:
Retail Investors - Rs 5000
Institutional Investor - Rs 10 crore
Benchmark: BSE Bankex
Fund Manager: Mr. Prashant Poddar
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