ICICI Prudential Mutual Fund has announced a revision in fundamental attributes under ICICI Prudential Sweep Plan, with effect from March 29, 2011.
The type of scheme will be changed to open ended money market fund.
The investment objective will be to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made in money market securities. The scheme would allocate up to 100% of assets in money market instruments.
Investors who want to exit from the scheme, can redeem their units from February 27, 2011 to March 28, 2011 without paying any exit load.