ICICI Prudential Mutual Fund new issue closes on 25th March
ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 56-1 Year Plan D, a close-ended income scheme.
The investment objective of the plan is to seek to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme. The duration of the plan is one year.
The new issue closes on 25th March. The minimum investment amount is Rs5,000.
Crisil Short Term Bond Fund Index is the benchmark index. Chaitanya Pande is the fund manager.
Birla Sun Life Mutual Fund new issue closes on 24th March
Birla Sun Life Mutual Fund has launched Birla Sun Life Fixed Term Plan-Series CW, a close-ended income scheme.
The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme. The scheme will have duration of 368 days.
The new issue closes on 24th March. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Kaustubh Gupta is the fund manager.
Pramerica Mutual Fund new issue closes on 28th March
Pramerica Mutual Fund has announced the launch of a close-ended income scheme, Pramerica Fixed Duration Fund-Series 2.
The new issue is open for subscription from 24th March till 28th March. The duration of the fund will be for 366 days from the date of allotment, including the date of allotment. The scheme seeks to provide reasonable returns, commensurate with a moderate level of risk, through investments in a portfolio of debt and money market instruments. The scheme has low credit risk and is tax-efficient.
Pramerica executive director and CIO-fixed income Mahendra Jajoo will manage the scheme. "FMPs can be an ideal product for all investors who wish to invest in a product with moderate risk for a fixed tenure and earn tax-efficient returns. In the mid-quarter Monetary Policy review conducted on 17th March, RBI hiked key rates by 25 bps."
"Bank CDs are currently trading at attractive yields and with the fresh round of rate hike, they are expected to stabilise around these attractive levels. Thus, this could be an opportune time to invest in a FMP," Mr Jajoo said.