The ICICI Prudential Fixed Maturity Plan (FMP) – Series 80 – 1125 Days Plan S is purely a long-term savings solution comprising of moderate risk. This means the risk is neither too high nor too low. Therefore, investors who do not want to take high risk can invest in such kind of a fund.
Here are a few things to know about this scheme:
New Fund Offer time period
The scheme opened on March 25, 2017, and close on April 01, 2017. Investors thus still have 5 day to invest in the scheme.
The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities or the debt instruments maturing on or before the maturity of the particular scheme.
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Under normal conditions, the allocation of the scheme and the credit rating of the instruments will be in the following manner:
The dividend option is available with only dividend payout facility. Therefore, the trustee can approve the distribution of dividends by the AMC out of the net surplus of the scheme.
No redemption or repurchase of units is allowed before the maturity of the scheme. However, investors who wish to exit may do so only in demat mode by selling the units through NSE or any of the stock exchanges where the scheme should get listed, which the Trustee may decide from time to time.
In the case of NRI investors, the maturity proceeds need to get submitted along with the Foreign Inward Remittance Certificate (FIRC) and also with a broker contract note of the respective broker through whom the transaction was initiated.
Minimum Application Charges
The scheme’s minimum application amount of purchase or switch-ins is Rs. 5000, which can be increased in multiples of Rs. 10 thereafter.
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Benchmark of the scheme is CRISIL Composite Bond Fund Index’
It is, however, to be noted that one should consult one’s financial adviser before investing in such a fund. Moreover, one must link one’s investments to one’s financial goals of life.