ICICI Prudential launches Real Estate Securities fund

Chennai, Nov 20 (UNI) ICICI Prudential AMC today announced the launch of ICICI Prudential Real Estate Securities Fund.

The three-year close ended debt fund has been designed for investment in real estate sector and real estate oriented sectors like cement, construction, metals, hotels, retail, banks and finance and companies, a company release here said.

The Fund would predominantly invest 51 to 100 per cent in high yielding debt securities issued by companies that are associated with or benefitting from the real estate sector.

It would invest up to 49 per cent in equity of companies, which are engaged in industries that benefit from the real estate sector or have substantial investments in property (including land holdings), the release added.

UNI