PRUDENTIAL-ICICI: A PRUDENT OFFER
Article Abstract:
Prudential-ICICI, the mutual fund joint venture of ICICI and Prudential Corporation of UK, is simultaneously launching 3 open- ended funds - Growth Plan, Liquid Plan and Income Plan. The Growth Plan and Income Plan funds will carry a minimum subscription of Rs5,000 with subsequent investment in multiples of Rs500 each. For the Liquid Plan, the minimum initial investment should be Rs15,000 in multiples of Rs5,000 thereafter. The minimum collection from the funds is expected to be around Rs10 crore and the maximum Rs200 crore. Around 95 percent of the assets will be invested in equities and equity-related instruments and around 5 percent in debt securities and other current assets. (gsh)
Comment:
Is simultaneously launching 3 open-ended funds - Growth Plan, Liquid Plan & Income Plan
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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UTI TO LAUNCH BANKING, TECH MF SCHEME
Article Abstract:
The Unit Trust of India (UTI) plans to launch a sector specific mutual fund scheme, Banking and Technology Fund, for banking and technology. The open-ended fund will have a minimum subscription of Rs10,000. The scheme envisages 90 percent capital investment in equity of which 65 percent will be fixed for banking and technology stocks. The remaining will be earmarked for money market instruments for liquidity purposes. (gsh)
Comment:
Plans to launch sector specific mutual fund scheme, Banking and Technology Fund, for banking & technology
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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