ICICI Prudential Mutual Fund has introduced the trigger facility under various open-ended fixed income schemes, with effect from September 7, 2011.
Through this facility, investors can park their lumpsum investible surplus in fixed income schemes and can switch to specified equity schemes based on pre-defined trigger when the markets reach the specified levels.
The salient features of the facility include:
1. Investors will have the option to select the trigger from a set of triggers on the NAV of Transferee schemes or BSE Sensex values (in multiples of 100) for switching to equity Schemes. Trigger level will be based either on the fall in BSE Sensex Value or percentage drop in NAV of specified plan of transferee scheme.
2.The trigger option will be available under growth sub option of the transferor schemes.
3.The minimum application amount should be Rs. 20,000 for registering under this facility.
4.Trigger at 20% with depreciation in NAV of transferee schemes and switch into ICICI Prudential Target Returns Fund will be the default option under the trigger facility.
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