Mumbai, Jan 14 (UNI) ICICI Prudential Asset Management Company today announced the launch of a equity linked close ended fixed maturity fund plan and an extention of its fusion fund series.
The three year close-end debt fund--ICICI Prudential fixed maturity plan series-33, seeks to invest 80 per cent in equity linked debentures and the balance will be invested in debt securities with a fix and floating interest rates, the company said here today.
Speaking at the occasion, Company Managing Director Nimesh Shah said, ''The product has Nifty linked returns. It has been structured in such a way that if Nifty gains, the investors will book the benefits, while if Nifty loses the investors will get back their 100 per cent investment back, after the maturity period.'' The fund has no entry load and provides the advantage of periodic liquidity every six months from the date of allotment, Mr Shaha said, asserting that there is no assurance of any capital protection or capital guarantee for investors in this scheme.
Another fund -- ICICI Prudential Fusion Fund series-III -- with new fund offer from January 8 to February 21, 2008, is also a three year close-ended diversified equity fund designed to invest in companies focusing on the sectors including infrastructure, retail consumption and services, Mr Shaha stated.
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