ICICI Prudential Mutual Fund launched ICICI Prudential Fixed Maturity Plan – Series 88 – 1192 Days Plan R, a close-ended debt scheme. The issue was made open to the public on January 17 and will close on January 23, 2023.
As per the fund house, the new scheme will be managed by Anuj Tagra who has an experience of over 12 years and Darshil Dedhia who has over 6 years of experience.
The benchmark index for the mutual fund scheme is CRISIL Medium Term Debt Index. The minimum investment amount is Rs. 5000 and in multiples of ₹10 thereafter. The tenure of this scheme will be 1192 days from the date of allotment.
This is a scheme with relatively high interest rate risk and relatively low credit risk. However, being a close-ended scheme, the scheme will not reopen for subscription. The new fund offer is proposed to be listed on BSE Limited.
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 realised, the fund house said in a media release.
As per press release, this scheme is suitable for investors who want to invest in a debt scheme that seeks to generate income by investing in a portfolio of fixed income securities/debt instruments.
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 87 - 1214 Days Plan A - Direct Plan - Growth||6.91%|
|SBI Fixed Maturity Plan (FMP) - Series 27 - Direct Plan - Growth||6.75%|
|ICICI Prudential FMP - Series 83 - 1735 Days Plan P - Direct Plan - Growth||6.67%|
|IDFC Fixed Term Plan - Series 179 - Direct Plan - Growth||6.65%|
(Source: Moneycontrol, as of 17 January)