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Prudential ICICI Services Industries Fund


Prudential ICICI Mutual Fund has launched an equity fund. Named as Prudential ICICI Services Industries Fund, it will invest in the stocks of companies belonging to the service industry. During the new fund offer period, it will be available for subscription from October 13 to November 11, 2005.

The fund will be benchmarked against S&P CNX Nifty index. It will invest 70-100 per cent of its assets in equities, while up to 30 per cent of the assets can also be invested in debt and money market instruments. The fund will charge an entry load of 2.25 per cent for investments of less than Rs 5 crore, while no entry load will be charged on investments of an amount greater than or equal to Rs 5 crore. An exit load of 1 per cent will be levied on investments of less than Rs 5 crore, if redeemed within 6 months from the date of allotment. No exit load will be charged on investments of Rs 5 crore or more.