ICICI Prudential launches Constant Maturity Gilt Fund

Tags: News
ICICI Prudential Mutual Fund today said it has launched Constant Maturity Gilt Fund, a 10-year open-ended income fund that aims to provide reasonable returns by investing in portfolio of government securities.

The new fund offer which opened on August 25 will come to a close on September 8.

The fund will be maintaining the average maturity of the scheme close to 10 years. It will be investing in securities with residual maturity ranging between 8 to 12 years.

"In the current scenario, where G-sec yields are at peak and macro environment turning conducive for propelling a fall in interest rates, there is a strong case for investments in duration funds. Indian markets are seeing a positive rally.

"The liquidity situation has improved in the recent past and with this fund, we aim to take advantage of the positive real interest rates that will lead to increase in savings rate," ICICI Prudential Asset Management Company MD and CEO Nimesh Shah said in a statement.

The minimum application amount for the fund is Rs 5,000. The fund will be managed by ICICI Prudential Asset Management Company CIO (fixed income) Rahul Goswami.

There has been significant improvement in current account deficit over the past few quarters and country's balance of payment has swung back into surplus during the October- December 2013 quarter supported by strong flows in debt and equity, the release said.

EDITORIAL OF THE DAY

  • Public musn’t pay for domestic servants for our diplomats

    Nothing seems to have changed in the year and half since the fur that flew thick and fast over the case of diplomat Debjani Khobragade and her maid Sa

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

Economic integration in east Asia

As trade agreements within a global framework have become increasingly ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture