ICICI Prudential Mutual Fund has extended the closing date of new offer period for its ICICI Prudential FMP Series 45 - 20 Months Plan. Now the offer would close on 15 September 2008 instead of 9 September 2008. The new fund offer was opened for subscription on 21 August 2008.ICICI Prudential Fixed Maturity Plan - Series 45 - 20 Months Plan is a close-ended debt scheme. The scheme seeks to generate returns by investing in a portfolio of fixed income securities and debt instruments normally maturing in line with the time profile of the scheme.
There are two options available for investment under the scheme viz. retail option and institutional options. The scheme will further offer growth and dividend option.
The minimum investment amount under retail plan is Rs. 5000 and in multiples of Re. 1 thereafter. Investors under institutional plan will have to invest minimum of Rs 1 crore and in multiples of Re. 1 thereafter.
The fund will have exposure up to 100% in money market instruments, short term and medium term debt securities, debt instruments and securitised debt.
The performance of the scheme will be against CRISIL Composite Bond Fund Index. The fund manager for the scheme will be Chaitanya Pande.
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