Publish Date:
ICICI Prudential Mutual Fund has launched – ICICI Prudential Nifty SDL Sep 2026 Index Fund
It is an open-ended Target Maturity Index Fund investing in constituents of Nifty SDL Sep 2026 Index. A relatively high interest rate risk and relatively low credit risk.
Accordingly, the investment objective of the scheme is to provide investment returns corresponding to the total returns of the securities as represented by the Nifty SDL Sep 2026 Index before expenses, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.
Under normal circumstances, ICICI Prudential Nifty SDL Sep 2026 Index Fund will hold an allocation of 95% to 100% of its assets in State Development Loans (SDLs) of State Government/UTs forming part of Nifty SDL Sep 2026 Index and 0% to 5% in Money Market instruments (Treasury Bills, Government Securities and TriParty Repos Only).
As per the Scheme Information Document, ICICI Prudential Nifty SDL Sep 2026 Index Fund is passively managed which will employ an investment approach designed to track the performance of Nifty SDL Sep 2026 Index.
The Scheme will follow Buy and Hold investment strategy in which existing SDLs will be held till maturity unless sold for meeting redemptions requirement. During normal circumstances, the Scheme’s exposure to money market instruments will be in line with the asset allocation table. However, in case of maturity of SDLs in the Scheme portfolio, the reinvestment will be in line with the index methodology.
ICICI Prudential Nifty SDL Sep 2026 Index Fund’s performance will be benchmarked against Nifty SDL Sep 2026 Index.
The scheme will be managed by Mr Anuj Tagra and Mr Darshil Dedhia.
The NFO opens for subscription on December 15, 2022 and closes on December 20, 2022. The schemes will reopen for continuous sale and repurchase within 5 business days from the date of allotment.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 1,000/- and in multiples of any amount thereafter.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum Capital Withdrawal (IDCW) option.