ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan - Series 85 - 1141 Days Plan K, a close ended debt scheme. The tenure of the scheme is 1141 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 13 March 2019 to 19 March 2019.

The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme.

Presently, two options are available under the scheme viz. cumulative and dividend option (with dividend payout & dividend transfer plan facility) with quarterly and half yearly dividend frequency.

The scheme will invest 100% - 80% of its assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium 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.

The fund managers of the scheme are Rahul Goswami and Rohan Maru.