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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Regional parties that brought diversity to Indian democracy are at a dead end

    In the two decades, which began in 1989, when the paradigm of coalition politics came to dominate central governments, it would have sounded far-fetch

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Kuruvilla Pandikattu SJ

What we can learn from agnosticism

As an agnostic, the American writer David Breeden is aware ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture