ICICI Prudential Mutual Fund has launched a closed-end capital-protection-oriented fund, India Infoline reports. The ICICI Prudential Capital Protection Oriented Fund – Series V – 60 Months Plan is proposed to be listed on National Stock Exchange of India.
The scheme, which offers cumulative and dividend options, will allocate 71 percent to 100 percent of assets to debt securities and money market instruments, while the remaining will be invested in equity. The fund, which is benchmarked against the Crisil MIP Blended Index, will be managed by Chaitanya Pande and Mrinal Singh.
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