Back Office Login

you are here: Mutual Fund | MF Schemes | MF News
As on: Apr 22, 2019 01:36 PM
ICICI Prudential Overnight Fund Floats On
09-Nov-18   09:26 Hrs IST
ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Overnight Fund, an open ended debt scheme investing in overnight securities. The new fund offer (NFO) price for the scheme is Rs 100 per unit. The new issue will be open for subscription from 14 November 2018 to 15 November 2018.

The investment objective of the scheme seeks to provide reasonable returns commensurate with low risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day.

The scheme will have regular plan and direct plan each plan under the scheme will have the following options: growth option and dividend option with dividend payout and dividend reinvestment sub-options (with daily, weekly, fortnightly, monthly, quarterly, half-yearly and annual dividend frequencies).

The scheme would invest up to 100% of assets in overnight securities or debt instruments maturing on or before the next business day with low risk profile.

The minimum application amount is Rs 100/- (plus in multiples of Re. 1).

The minimum additional purchase amount is Re. 1/- (plus in multiples of Re. 1) .

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry and exit load charge will be nil.

Benchmark Index for the scheme is CRISIL Overnight index.

The fund managers of the scheme will be Rahul Goswami, Rohan Maru and Nikhil Kabra.

Powered by Capital Market - Live News