ICICI Prudential Mutual Fund has filed papers with Securities and Exchange Board of India (SEBI) for ICICI Prudential Recovery Fund, which is an open-ended equity scheme. The units of the scheme will be available at Rs 10 per unit.
Details of the scheme:
The scheme will have a regular option and Systematic Investment Option (SIP). Apart from this, the scheme will have minimum application amount of Rs 5,000 and in multiples of Re 1 thereafter and additional amount Rs 1,000 via SIP facility. Along with this, the scheme will offer for redemption/switch-out of units at daily intervals at NAV based prices. The scheme offers growth option and dividend option. On the top of this, the scheme will charge an entry load of 2.25% while an exit load of 1% if redeemed within 12 months of investment.
The scheme aims at investing 70% to 100% in equity and equity related securities while the rest 0% to 30% in debt instruments.
Details of the scheme:
The scheme will have a regular option and Systematic Investment Option (SIP). Apart from this, the scheme will have minimum application amount of Rs 5,000 and in multiples of Re 1 thereafter and additional amount Rs 1,000 via SIP facility. Along with this, the scheme will offer for redemption/switch-out of units at daily intervals at NAV based prices. The scheme offers growth option and dividend option. On the top of this, the scheme will charge an entry load of 2.25% while an exit load of 1% if redeemed within 12 months of investment.
The scheme aims at investing 70% to 100% in equity and equity related securities while the rest 0% to 30% in debt instruments.
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