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Mumbai, Aug. 21 ICICI Prudential Asset Management Company has launched the ICICI Prudential S.M.A.R.T (Structured Methodology Aiming at Returns over Tenure) Fund. The new fund offer opened on August 18 and will close on September 19.

The close ended fund will aim at providing the investors the opportunity to earn equity market-linked returns.

The fund seeks to invest up to 95 per cent in equity-linked debentures with returns linked to the Nifty’s movement, while up to 100 per cent could be invested in investment grade debt securities with fixed and floating interest rate. The fund is designed in such a way that when equity markets go up, the investor potentially profits and when the markets go down, the investor still has the potential to keep his principal investment intact, said a press release.

“The fund provides an ideal investment opportunity for investors with limited risk appetite looking to gain equity market exposure during a market upside, while also limiting the risks of capital erosion during a downside,” said Mr Nimesh Shah, Managing Director, ICICI Prudential Asset Management Company Ltd. The fund has two plans with a tenure of each 720 days and 1,080 days from the date of allotment.

Both plans have retail and institutional options. And in the case of retail, the minimum investment amount is Rs 5,000, while for institutional investors the investment amount is Rs 1 crore. The entry load in case of both plans is 2.25 per cent.

More Stories on : New Fund Offer | Mutual Funds

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