ICICI Prudential Mutual Fund has approved revision in the exit load structure under ICICI Prudential Target Returns Fund-retail option, with effect from 5 June 2009. The fund house further announced that the Systematic investment plan and System Transfer Plan will not be available under the scheme.
Accordingly, for an investment of less than Rs 5 crore, the scheme will charge an entry load of 2.25% of applicable NAV. For an investment of Rs 5 crore and above the scheme will not charge any entry load and for switches from other equity schemes to the aforesaid scheme, the entry load will be nil.
For an investment of less than Rs 5 crore, 1.00% of an exit load will be charged, if the amount sought to be redeemed or switched out is invested for a period of upto one year from the date of allotment.
No exit load will be charged, if the amount sought to be redeemed or switched out is invested for a period of more than one year from the date of allotment. For an investment of Rs 5 crore and above, no exit load will be levied.
ICICI Prudential Target Returns Fund is an open ended diversified equity fund that seeks to generate capital appreciation by investing in equity or equity related securities of large market capitalization companies constituting the BSE 100 index and providing investor with options to withdraw their investment automatically based on triggers for pre-set levels of returns as and when they are achieved.
Accordingly, for an investment of less than Rs 5 crore, the scheme will charge an entry load of 2.25% of applicable NAV. For an investment of Rs 5 crore and above the scheme will not charge any entry load and for switches from other equity schemes to the aforesaid scheme, the entry load will be nil.
For an investment of less than Rs 5 crore, 1.00% of an exit load will be charged, if the amount sought to be redeemed or switched out is invested for a period of upto one year from the date of allotment.
No exit load will be charged, if the amount sought to be redeemed or switched out is invested for a period of more than one year from the date of allotment. For an investment of Rs 5 crore and above, no exit load will be levied.
ICICI Prudential Target Returns Fund is an open ended diversified equity fund that seeks to generate capital appreciation by investing in equity or equity related securities of large market capitalization companies constituting the BSE 100 index and providing investor with options to withdraw their investment automatically based on triggers for pre-set levels of returns as and when they are achieved.
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