|ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Sensex Index Fund, an open ended index fund. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 14 September to 18 September 2017.
The objective of the scheme is to invest in companies whose securities are included in S&P BSE Sensex Index and subject to tracking errors, to endeavor to achieve the returns of the above index as closely as possible. This would be done by investing in all the stocks comprising the S&P BSE Sensex Index in approximately the same weightage that they represent in S&P BSE Sensex Index.The Scheme will not seek to outperform the S&P BSE Sensex Index or to underperform it.
Presently, two options are available under the scheme viz. growth and dividend options with dividend payout & dividend reinvestment sub-options.
The scheme will invest 70%-100% of its assets in debt instruments including government securities and invest upto 30% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the Plan.
The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Not applicable
Exit Load: Nil
Benchmark Index for the scheme is S&P BSE Sensex Index.
The fund managers of the scheme is Kayzad Eghlim.
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