ICICI Prudential MF Launches FMP-Series 39-18 Months -Plan B

ICICI Prudential Mutual Fund has rolled out a scheme called Fixed Maturity Plan - Series 39-18 Months -Plan B. The scheme opens on 26 October 2007 and it closes on 6 November 2007.

The investment objective of the Scheme is to seek to generate returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Scheme. Investment Plans: The scheme offers retail and institutional plans. Both the options have cumulative and dividend sub options. Dividend payout facility is the only facility available under dividend sub options. Minimum Subscription: The minimum investment amount under retail plan is Rs 5000 and in multiples of Re 1 thereafter. For institutional plan the minimum investment is Rs 1 crore and in multiples of Re 1 thereafter. Asset allocation: The scheme will invest up to 100% of its portfolio in money market instruments, short term and medium term debt securities and debt instruments securitised debt. The scheme will invest in securitiesd debt up to 50% of the net assets and derivative instrument to the extent of 50% of the net assets of the scheme. The investments in central and state government securities will be in normal circumstances limited to 50% of the net assets of the Plan. Under the plan, investment will be in debt securities having tenure of 550 days.