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Prudential ICICI Mutual Fund Announces Changes

Prudential ICICI Mutual Fund has announced changes in its schemes which have come into effect from August 20, 2001. The load structure for Liquid Plan and Income Plan has changed. Pru ICICI Liquid Plan has become a no load fund, the CDSC has been withdrawn. In case of Pru ICICI Income Plan now an exit load of 0.50% will be charged for redemptions upto Rs five lakh and made within six months of the investment and a load of 0.25% will be charged for redemptions greater than Rs five lakhs but made within three months. Some changes have also been made in the Systematic Investment Plans of the Growth and Income Plan. Now the investors opting for a Monthly SIP in these two schemes need to invest a minimum amount of Rs 1000 and six post-dated cheques of Rs 750 each and those opting for a Quarterly SIP need to invest a minimum of Rs 1000 and four post-dated cheques of Rs 1000 each.

The applicable NAV in case of subscription to the Pru ICICI Liquid Plan would be the previous day's NAV whereas in case of redemption the applicable NAV would be of the same day.