Mutual Fund News : ICICI Prudential Mutual Fund announces change in maximum investment amount under ICICI Pru Ultra Short Term Fund

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ICICI Prudential Asset Management Company has announced a change in the maximum investment amount per investor under its scheme ICICI Prudential Ultra Short Term Fund.

The change will come into effect from June 4, 2020.

Under the revised provisions of the said scheme the maximum investment amount across all folios of a single investor shall not exceed Rs 50 crore.

The fund may accept an amount greater than Rs 50 crore (‘excess amount’), upto Rs 75 crore, provided the aggregate of all holdings in excess of Rs 50 crore, including the excess amount, does not exceed 10% of the Scheme’s AUM, which is declared on the last day of preceding calendar quarter.

All the other provisions of the schemes SID/KIM/addenda will remain unchanged.