ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Capital Protection Oriented Fund - Series XIV - Plan A 1275 Days, a close ended capital protection oriented scheme. The tenure of the scheme is 1275 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 16 November 2018 to 29 November 2018.

The investment objective of the Scheme is to seek to protect capital by investing a portion of the portfolio in highest rated debt securities & money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The debt securities would mature on or before the maturity of the Scheme.

Presently, two options are available under the scheme viz. Cumulative Option and Dividend Option with only Dividend Payout facility.

The scheme will invest 100% - 65% of its assets in debt securities & money market instruments with low to medium risk profile and invest upto 35% of assets in equity & equity related securities with medium to high risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.

Entry load and exit load charge are not applicable for the scheme.

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index (85%) and Nifty 50 Index (15%).

The fund managers of the scheme are Rajat Chandak (Equity Portion), Rahul Goswami jointly with Chandni Gupta (Debt Portion) and Priyanka Khandelwal is the dedicated fund manager for managing overseas investments of the Schemes of the Fund which have a mandate to invest in overseas securities.