Monday, 8 November 2010

ICICI Prudential Regular Savings Fund – New Fund Offer (NFO) from ICICI Prudential Mutual Fund

ICICI Prudential Mutual Fund has launched and new fund named ICICI Prudential Regular Savings Fund. The New Fund Offer (NFO) will be available from 15th November, 2010 to 29th November, 2010.

ICICI Prudential Regular Savings Fund is an open ended income scheme. The scheme is to provide reasonable returns by maintaining an optimum balance of safety, liquidity and yield. By investing up to 100% of assets in debt securities (including government securities), the new fund offer aims to deliver consistent performance.

Both Growth and dividend options are available and you can opt for dividend paid out or dividend reinvestment option. The default dividend option is dividend reinvestment option and the dividend option also has quarterly and half yearly dividend frequencies.

There is an exit load of 2% if the redemption or switched out is within one year of investment. The face value of one unit is Rs. 10 and the minimum application amount of 10,000.

The fund manager is Chaitanya Pande and it will be benchmarked against Crisil Composite Bond Fund Index.

There are a number of good Mutual funds from ICICI prudential Fund and we can expect a good performance from this fund also.

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