ICICI Prudential Files for CRISIL-IBX Financial Services 9-12 Months Debt Index Fund

ICICI Prudential Mutual Fund has filed a draft offer document with SEBI for an open-ended target duration index fund. The ICICI Prudential CRISIL-IBX Financial Services 9-12 Months Debt Index Fund aims to track the CRISIL-IBX Financial Services 9-12 Months Debt Index, subject to tracking errors.

The fund is designed for investors looking for short-term regular income with relatively low interest rates and credit risk. The scheme does not guarantee returns.

Offer Price 

The New Fund Offer (NFO) price is set at ₹10 per unit. The scheme offers two investment options:

• Growth Option
• Income Distribution Cum Capital Withdrawal (IDCW) Option

The minimum application amount is ₹1,000, with additional investments allowed in multiples of ₹1. The scheme seeks to collect a minimum target amount of ₹10 crore.

Benchmark 

The scheme will be benchmarked against the CRISIL-IBX Financial Services 9-12 Months Debt Index, which consists of debt securities from the financial services sector with a duration of 9 to 12 months.

The scheme has no entry or exit load. Investors can enter and exit the fund without additional charges.

Liquidity and Redemption

Since it is an open-ended scheme, it will allow purchases and redemptions on all business days. Redemption proceeds will be dispatched within three business days from the request date.

ICICI Prudential’s filing is part of a broader trend of fund houses introducing debt index funds with specific target durations.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.