ICICI Prudential Mutual Fund launches Fixed Maturity Plan

ICICI Prudential Fixed Maturity Plan – Series 89 – Plan G (of 91 days) – NFO is a close-ended income scheme launched by ICICI Prudential Mutual Fund. The scheme aims to generate income by investing in fixed-income securities maturing within the 91-day scheme period. There is no entry load, and since the scheme will be listed on a stock exchange, there is also no exit load.

The minimum investment amount is Rs 5,000. The New Fund Offer (NFO) is open from March 7 to March 12, 2024.

Investment objective

The investment objective of the ICICI Prudential Fixed Maturity Plan – Series 89 – Plan G (of 91 days) 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. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved.

This NFO is suitable for investors who are seeking a savings solution having a duration of 91 days and a Debt Scheme that seeks to generate income by investing in a portfolio of fixed-income securities/debt instruments maturing on or before the maturity of the Scheme.

Risk-o-meter: the ICICI Prudential Fixed Maturity Plan – Series 89 – Plan G (of 91 days) – Low to Moderate

Potential Risk Class: it’s a close-ended scheme, relativelylow interest rate risk and relatively low credit risk (A – I).

Funds Allocation

Benchmark

ICICI Prudential Fixed Maturity Plan – Series 89 – Plan G (of 91 days) will benchmark against CRISIL Liquid Debt Index

Fund Managers

Rohan Maru, Age: 39, Educational Qualification: M. Com, MBA, Total Experience (in years): 10

Nikhil Kabra, Age: 30, Educational Qualification: B. Com, CA, Total Experience (in years): 9

Characteristics of Fixed Maturity Plans

• Fixed tenor: Fixed Maturity Plans (FMPs) have a predetermined maturity date.
• Closed-ended: FMPs have a fixed investment period and investors cannot redeem units before maturity.
• Portfolio diversification: FMPs typically invest in a diversified portfolio of debt instruments.
• Low-interest rate risk: FMPs aim to match the maturity of their investments with the maturity of the plan, reducing interest rate risk.
• Capital protection: FMPs may offer capital protection by investing in low-risk debt securities.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.