ICICI Prudential launched a new fund offer in debt category

ICICI Prudential Mutual Fund
Scheme Name ICICI Prudential Fixed Maturity Plan – Series 87 – 1115 Days Plan K
Objective of Scheme The investment objective of the Scheme is to seek to generate income by investing in a portfolio of fixed income securities/ debt instruments maturing on or before the maturity of the Scheme.
Scheme Type Close Ended
Scheme Category Debt – Income
New Fund Launch Date 30-Apr-2020
New Fund Offer Closure Date 04-May-2020
Indicate Load Separately Entry Load: Not Applicable. Exit Load: Since the Scheme will be listed on the stock exchange, exit load will not be applicable.
Minimum Subscription Amount Rs.5,000/-
For Further Details Please Visit Website www.icicipruamc.com

Source from: www.amfiindia.com

Mutual Funds Based on Asset Class

Debt Fund: These are funds that invest in debt instruments e.g. company debentures, government bonds and other fixed income assets. They are considered safe investments and provide fixed returns.These funds do not deduct tax at source so if the earning from the investment is more than Rs.10,000 then the investor is liable to pay the tax on it himself.

Mutual Funds Based on Structure

Close-Ended Funds: These are funds in which units can be purchased only during the initial offer period. Units can be redeemed at a specified maturity date. To provide for liquidity, these schemes are often listed for trade on a stock exchange. Unlike open ended mutual funds, once the units or stocks are bought, they cannot be sold back to the mutual fund, instead they need to be sold through the stock market at the prevailing price of the shares.

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