Systematic Investment Plan And Transfer Plan The Schem - Dec 13, 2008

ICICI Prudential Mutual Fund has announced changes in ICICI Prudential Income Plan. The fund house declared changes in the exit load structure excluding Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) of the scheme, With effect from 16 December 2008.

Investment of less than Rs 1 crore in the retail plan, the scheme will charge an exit load of 2% of the applicable NAV if the amount sought to be redeemed or switched out, is invested upto six months from the date of allotment.The exit load of 1.5% of the applicable NAV will be charged if the amount sought to be redeemed or switched out, is invested for more than six months but upto 1 year from the date of allotment.

The exit load of 1% of the applicable NAV will be charged if the amount sought to be redeemed or switched out, is invested for a period of more than one year but upto 18 months from the date of allotment.There will be no exit load if the amount sought to be redeemed or switched out, is invested for a period of more than 18 months from the date of allotment.For investment of Rs 1 crore and above under the retail plan there will be no exit load. Also under the institutional plan there will be no exit load.ICICI Prudential Income Plan (IPIP) is an open-ended debt fund with an objective to generate income through investments in debt securities.