ICICI Prudential Mutual Fund launched Fixed Maturity Plan – Series 88 – 1199 Days Plan Q, a close ended debt scheme on December 27, 2022. The new fund offer will remain open for subscription till January 3, 2023.
Here, we share more details on the scheme in case you want to explore the idea of adding this to your portfolio.
The fund scheme will be managed by Mr. Anuj Tagra and Mr. Darshil Dedhia. The scheme’s benchmark is CRISIL Medium Term Debt Index.
About the index: CRISIL Medium Term Debt Index seeks to track the performance of a debt portfolio comprising of government securities and AAA/AA+/AA rated corporate bonds. CRISIL Medium Term Debt Index is a composition of CRISIL AAA Medium Term Bond Index, CRISIL AA and AA+ Medium Term Bond Index and CRISIL Short Term Gilt Index.
Fund objective: 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. However, there can be no assurance or guarantee that the investment objective of the scheme will be realized, according to the AMC.
Minimum application amount: An investor must make a minimum investment of ₹5,000 and in multiples of ₹10 thereafter.
About maturity: The tenure of this scheme will be 1199 days from the date of allotment. The scheme shall be fully redeemed at the end of the maturity period.
Here are four fixed maturity plans that demonstrated the best performance in the past three years:
|Name of the schemes||3 year trailing returns|
|ICICI Prudential FMP - Series 83 - 1735 Days Plan P - Direct Plan - Growth||6.71%|
|SBI Debt Fund Series C - 44 - Direct Plan - Growth||6.54%|
|IDFC Fixed Term Plan - Series 179 - Direct Plan - Growth||6.45%|
|Nippon India Fixed Horizon Fund XLI - Series 8 - Direct Plan - Growth||6.35%|
(Source: Moneycontrol, as of 01 January)