ICICI Prudential CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Files Draft

ICICI Prudential Mutual Fund, one of the known fund houses in the country has launched the ICICI Prudential CRISIL-IBX Financial Services 3-6 Months Debt Index Fund, an open-ended index fund that tracks the CRISIL-IBX Financial Services 3-6 Months Debt Index. 

The fund invests in AAA-rated financial sector instruments with maturities between 3 to 6 months​.

Asset Allocation

The fund allocates 95%-100% of its assets to debt securities that are part of the index. The remaining 0-5% may be invested in money market instruments, including Treasury Bills, government securities (up to one year), and Tri-Party Repos​

Benchmark 

The fund is benchmarked against the CRISIL-IBX Financial Services 3-6 Months Debt Index and falls under the A-I risk category, indicating relatively low interest rate and credit risk​.

The total expense ratio (TER) is capped at 1%. There is no exit load, meaning investors can redeem units without additional charges​.

As an open-ended fund, investors can buy and redeem units on any business day. Redemption proceeds are typically processed within three business days. The Net Asset Value (NAV) is disclosed daily on the AMC’s website and the AMFI website​.

Other Details

The scheme is managed by Darshil Dedhia and Nikhil Kabra, both of whom have experience in debt fund management​.

• Minimum investment during NFO: ₹1,000 and in multiples of ₹1.
• Minimum additional purchase: ₹500.
• Minimum redemption amount: Any amount​.

The fund offers 2 plans: a Direct Plan (lower expense ratio) and a Regular Plan. Investors can choose between Growth And Income Distribution cum Capital Withdrawal (IDCW) options​.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.