Capital protected plans are those where the investor gets back at least the initial amount invested. The capital protected scheme, called the Prudential ICICI Principal Protected Portfolio, is the first of its kind and will be a kind of trial run for the fund for future capital protected plans for its MF business.
Prudential ICICI AMC managing director Pankaj Razdan said the scheme had been launched for the funds PMS clients, and that Deutsche Bank AG, London had given the guarantee for it. About Rs 500 crore was likely to be mobilised by it, he said.
Sebi chairman M Damodaran had recently said the market regulator would unveil norms for capital protection plans in the coming days.
Some features of the PruICICI scheme include an equity portfolio with 100% principal protection and 100% allocation into equity at inception. The tenure will be for 5 years, with a minimum investment being Rs 50 lakh and multiples of Rs 10,000 thereafter.