ICICI MF To Unveil Prudential Retirement Fund Series

ICICI Mutual Fund will unveil ICICI Prudential Retirement Fund Series, an open ended asset allocation fund and has filed the offer document with the SEBI. The units of the scheme will be available for Rs 10 per unit. The objective of the scheme is to seek a proper mix of stability and growth by changing the asset mix as the target retirement year arrives. The scheme seeks to provide capital appreciation and current income consistent with its current asset allocation. While, entry load of 3% will be levied, an exit load of 2% will be levied if redeemed before 5 years from the date of investment. For investment which is redeemed after 5 years from the date of investment, the exit load will be nil.