ICICI Prudential MF Launches New FMP

ICICI Prudential MF has come out with close-ended debt fund called ICICI Prudential FMP -Series 41 -19 Months Plan. The scheme will have three investment plans i.e. retail plan, institutional plan and institutional plan I. Each plan has growth and dividend payout options. For the retail plan, the minimum amount to be invested is Rs 5000 and in multiples of Re 1 thereafter. For institutional plan the minimum investment amount is Rs.1 crore and in multiples of Re.1 thereafter and for institutional plan I the minimum investment amount is Rs 10 crore and in multiples of Re 1. Scheme will charge no entry load however there will be an exit load upto 2% of the applicable NAV if investments are repurchased before the maturity of the Scheme. The objective of the scheme is 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.