ICICI Prudential Mutual Fund has launched a new closed-ended debt scheme ICICI Prudential Fixed Maturity Plan - Series 88 - 1192 Days Plan R. The issue was made open to the public on January 17 and will close on January 23, 2023.
According to the fund house, Anuj Tagra who has more than 12 years of experience and Darshil Dedhia who has more than 6 years of experience will manage the new scheme.
The CRISIL Medium Term Debt Index serves as the benchmark index for the mutual fund scheme. The minimum investment is Rs5000 and in multiples of Rs10. The tenure of this scheme will be 1192 days from the date of allotment.
This scheme carries a relatively high interest rate risk and a relatively low credit risk. But because it's a closed-ended scheme subscription won't be accepted again. The new fund offer will be listed on BSE limited.
The scheme's investment objective is to generate income by investing in portfolio of fixed income securities and debt instruments that will mature on or before the scheme's maturity.
Here are four fixed maturity plans that demonstrated the best performance in the past three years:
(Source: Moneycontrol, as of 17 January)