ICICI MF has rolled out ICICI Prudential Fixed Maturity Plan - Series 42 - Sixteen Months Plan, it is a close-ended debt fund. 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.
The fund would invest up to 100% in money market instruments, short term and medium term debt securities/debt instruments and securitised debt. The investments in central and state government securities will be in normal circumstances limited to 50% of the net assets of the plan. The investment in securitised debt will be 50% of the net asset and derivative instruments to the extent of 50% of the net assets of the scheme. It is proposed to make investments in debt securities having tenure of 480 days.
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