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  • ICICI Prudential Savings Fund(G)

    ICICI Pru Savings Fund(G)
    Dividend Yearly
    NA
    Category
    Debt - Liquid
    52-week NAV high
    349.17  (As on 12-12-2018)
    52-week NAV low
    326.67  (As on 12-12-2017)
    Expense
    0.45%  (As on 30-11-2018)

    Performance

    1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
    Fund Returns 0.77 2.01 4.00 6.89 7.03 7.77 8.02 8.33 -
    Scheme Details
    Fund Type
    Open Ended
    Investment Plan
    Growth
    Bonus
    NA
    Launch Date
    Sep 27, 2002
    Last Dividend
    NA
    Minimum Investment
    100
  • ICICI Prudential Asset Management Company Ltd. is an amalgamation of two premier organisations – ICICI Bank and Prudential Plc. ICICI Bank is one of the leading private sector banks in the country and Prudential is a successful financial services organisation. The AMC which was present only in only two locations in the initial stages is present in more than 200 locations and has an investor base of over 3 million at present.

    The company offers several equity funds, debt funds and hybrid funds. The ICICI Prudential Savings Fund – Growth scheme is a debt scheme that aids in capital appreciation over a long term. While the ICICI Prudential Savings Fund has many variants, the growth option is the default option. In this case, no dividends are provided and the amount compounds on a regular basis. Hence the final maturity amount received at the end of the term is high. The assets are basically invested in debt securities and money market instruments.

    Investment Objective of ICICI Prudential Savings Fund – Growth

    The objective of the ICICI Prudential Savings Fund – Growth scheme is to attain capital appreciation while the safety, yield, and liquidity of the assets are maintained at an optimum level. The income will be created by making investments in debt instruments and money market instruments.

    Key Features of ICICI Prudential Savings Fund – Growth

    The features of the ICICI Prudential Savings Fund – Growth scheme are given below:

    Type of fund Open-ended low duration debt scheme
    Plans available
    • ICICI Prudential Savings Fund
    • ICICI Prudential Savings Fund – Direct Plan
    Options under each plan
    • Growth
    • Dividend (with payout and reinvestment sub-options)
    Default option: Growth
    Systematic Investment Plan Available
    Systematic Transfer Plan Available
    Systematic Withdrawal Plan Available

    Investment Amount for ICICI Prudential Savings Fund – Growth

    The company has mentioned certain restrictions in terms of the investment amounts. The details are given below:

    Minimum application amount Rs.500
    Minimum additional investment Rs.100
    Minimum installment for Systematic Investment Plan (SIP) Rs.500
    Minimum installment for Systematic Withdrawal Plan (SWP) Rs.500
    Entry Load Not applicable
    Exit Load Nil

    Asset Allocation for ICICI Prudential Savings Fund – Growth

    Instruments Allocations (Percentage of total assets) Risk Profile
    Debt and money market
    • Minimum: 0%
    • Maximum: 100%
    Medium to low

    Who can Invest in ICICI Prudential Savings Fund – Growth?

    The below-mentioned entities can subscribe to the ICICI Prudential Savings Fund – Growth:

    • Adult residents (maximum 4 individuals in case of joint holding)
    • Parent or guardian on behalf of minor
    • Non-resident Indians (NRIs)
    • Hindu Undivided Family
    • Foreign Portfolio Investor (FPI)
    • Companies, Public Sector Undertakings (PSUs), corporate bodies
    • Partnership companies
    • Religious Trusts, Charitable Trusts
    • Army, Navy, Paramilitary, Air Force
    • Research Organisations – Scientific and Industrial

    *Note: A few of the entities mentioned above are required to be registered under certain acts or under certain provisions.

    NAV Disclosure and Benchmark for ICICI Prudential Savings Fund – Growth

    NAV: The NAV or the Net Asset Value of the scheme is the value of a share in a particular mutual fund. It helps an investor find out if the scheme he/she invested in is undervalued or overvalued. The NAV is calculated by deducting the value of liabilities from the total value of assets of the company and dividing the resulting figure by the number of units under the scheme. The NAV is calculated at the end of the business day and is updated on the official website of the company and published in minimum two popular newspapers in the country.

    Liquidity: The ICICI Prudential Savings Fund – Growth offers units for sale, redemption, switch-in, and switch-out at NAV-based costs on all business days.

    Benchmark index: NIFTY Low Duration Debt Index

    Fund Manager for ICICI Prudential Savings – Growth

    The fund managers for this particular scheme are Rahul Goswami and Rohan Maru.

    Rahul Goswami has an experience of 17 years in the debt markets as well as fund management. As on 30 April 2018, Mr. Goswami had managed the ICICI Prudential Savings Fund - Growth scheme for 5 years and 8 months.

    Rohan Maru has held many relevant positions in other organisations in the financial services sector and has been associated with ICICI Prudential AMC since November 2012. As on 30 April 2018, Mr. Maru had managed the scheme for 4 years and 8 months.

    Investment Restrictions of ICICI Prudential Savings Fund – Growth

    Certain restrictions are applicable on the ICICI Prudential Savings Fund – Growth scheme as per the regulations and amendments. Here are the details of the same:

    • The total exposure of mutual fund debt schemes of a specific sector should not exceed 25% of the net assets of the scheme. The financial sector i.e. only Housing Finance Companies are allowed an additional 15% increased exposure in the debt scheme.
    • The investment limit for debt instruments that include money market, as well as non-money market instruments, is 10% of the NAV of the scheme. A 2% extension is provided after approval of the same by the board of directors and board of trustees of the AMC. The exception to this restriction, however, are government securities, collateral borrowing, treasury bills, and lending obligations.

    The same restriction will be applicable to debentures.

    • The investment limit for unrated debt securities issued by a single issuer is 10% of NAV. The total investment for the scheme is 25% of the NAV of the scheme.
    • Investments can be transferred from one scheme to another only if the transfer is done at the current market price and if the investment objective of the new scheme is similar to the previous scheme.
    • Investments can be made in other schemes of the same AMC or a different mutual fund, provided the aggregate inter-scheme investment does not exceed 5% of the NAV of the fund. No charges will be levied on such investments.
    • In the case of long-term investments, the fund will purchase or transfer funds in the name of the fund.
    • The buying and selling of securities are based on deliveries. The mutual fund receives deliveries in case of purchases and delivers securities in case of sales.
    • No loans are available against the scheme.
    • Mutual funds shall not make investments in unlisted securities, securities issued by private placement, listed securities of which the net assets are more than 25%, and fund of funds schemes.
    • The fund will not borrow unless it needs to repurchase, redeem, pay interest or pay a dividend to the unit holders. The borrowed amount cannot be more than 20% of the net assets and can be borrowed only for maximum 6 months.
    • Mutual funds can invest in short-term deposits for maximum 91 days but cannot invest more than 15% of the net assets in such deposits of all commercial banks put together.
    • Mutual funds that have securities of value equal to Rs.10 crore or more, will be required to follow the instructions as given by the Board.
    • The scheme is required to follow any regulation that is applicable to it.
    • The total exposure of debt scheme in group investments is restricted to 20% of the net assets. The restriction may be relaxed to 25% with approval from the Board of Trustees.

    Dividend Policy of ICICI Prudential Savings Fund – Growth

    Since the ICICI Prudential Savings Fund – Growth focuses on the capital growth aspect, no dividends will be declared. The income earned will be reinvested and will result in capital appreciation in the long run.

    Other facilities under ICICI Prudential Savings Fund – Growth

    Here are a few other facilities provided by the mutual fund:

    • SIP Top-up facility: ICICI Prudential offers Fixed top-up and variable top-up facilities to investors. The minimum amount for fixed top-up is Rs.500. The variable top-up amount can be in multiples of 5 such as 10%, 15% and 20% denominations.
    • Top-up cap amount: Investors can choose to freeze the SIP top-up amount when it reaches a certain predetermined amount.
    • Switch option: Investors can switch between schemes by writing to the AMC or sending the filled-in switch request slip to a customer service centre.

    Why you should invest in ICICI Prudential Savings Fund – Growth

    ICICI Prudential Savings Fund – Growth is a flexible and convenient mutual fund scheme that comes with two plan options. Investors can either choose the regular plan or the direct plan. While distributors and brokers are involved in the regular plan, no such involvement will be present in the direct plan and the investors can make investments themselves. Further, the scheme has many benefits – the minimum application amount, minimum additional investment amount, and the minimum installments are nominal, it has plan options such as SIP, SWP and STP, investors can switch from one scheme to another, and so on. The ICICI Prudential Savings Fund – Growth scheme is hence a good investment instrument.

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    GST rate of 18% applicable for all financial services effective July 1, 2017.

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