PRUDENTIAL ICICI MONTHLY INCOME PLAN |
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- Initial offer opens: September 28,
2000
- Closing Date:
October 14, 2000
- Nature of Scheme: Open Ended
- AMC: Prudential ICICI Asset
Management Company Limited
- Load: No Entry Load. Exit Load of
0.50% if redeemed within six months of purchase.
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- Continuous Offer opens: Within 45
days from the close of the initial offer period
- Sponsor: Prudential Plc and ICICI
Ltd
- Trustee: Prudential ICICI Trust Ltd
- Minimum subscription:Rs.25000/- .
NRIs can apply on repatriable and non-repatriable basis.
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Objective of
the fund: To generate regular income and growth of capital through investments in
fixed income securities.
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- The fund is promoted by Prudential Plc of UK and ICICI Ltd
(ICICI)
- This scheme offers Monthly dividend plan, Quarterly
dividend plan and Growth plan
- Unit holders have the option of switching facility from
one scheme to another
- Income distributed on units of the scheme is exempt from
tax under Section 10(33) of Income Tax
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Strategy of investment |
Under normal circumstances the fund proposes to invest 85% of investible funds in
debt instruments and in money market instruments and the balance of 15% in
equity. |
| Schemces launched by ICICI |
| Prudential ICICI
Tax Fund |
| Prudential ICICI
Growth Fund |
| Prudential ICICI
Income Fund |
| Prudential ICICI
Liquid Fund. |
| Prudential ICICI
FMCG Fund |
| Prudential ICICI
Gilt Fund |
| Prudential ICICI
Technology Fund |
| Prudential ICICI
Balanced Fund |
Performance
overview of the Prudential ICICI Mutual Fund |
| Name of the Fund |
NAV as on 28.09.2000 |
NAV as on 31.08.2000 |
NAV as on 31.07.2000 |
NAV as on 30.06.2000 |
NAV as on 31.05.2000 |
NAV as on 30.04.2000 |
| Prudential ICICI Growth
Plan |
21.9 |
22.84 |
21.31 |
24.35 |
22.05 |
24.6 |
| Prudential ICICI Income
Plan |
12.84 |
12.75 |
12.69 |
12.72 |
12.72 |
12.66 |
| Prudential ICICI Liquid Plan |
12.34 |
12.24 |
12.13 |
12.04 |
11.94 |
11.85 |
| Prudential ICICI Gilt Fund |
11.28 |
11.19 |
11.16 |
11.22 |
11.23 |
11.29 |
| Prudential ICICI Balanced Fund |
9.63 |
9.93 |
9.45 |
10.22 |
9.59 |
10.37 |
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| Comparative
Analysis of similar other funds |
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| Name of the Fund |
NAV as on 27.09.2000 |
NAV as on 31.08.2000 |
NAV as on 31.07.2000 |
NAV as on 30.06.2000 |
NAV as on
31.05.2000 |
NAV as on
30.04.2000 |
Alliance Monthly Income (Gr) |
12.75 |
12.75 |
12.56 |
12.75 |
12.59 |
12.65 |
| ING
Income Portfolio(Gr) |
11.51 |
11.41 |
11.34 |
11.39 |
11.35 |
11.26 |
| Kothari
Pioneer Income Builder Account (Gr) |
14.79 |
14.69 |
14.55 |
14.67 |
14.67 |
14.57 |
| Reliance
Income Plan (Gr) |
13.59 |
13.5 |
13.4 |
13.43 |
13.4 |
13.27 |
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A careful study of the above table reveals that the NAVs of the above funds exhibit
positive trends with a constant increase though at a slow pace. |
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Risk Perception |
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A careful observation of the performance of the fund shows that ICICI's performance has
been good except in few cases like Growth and Balanced Fund, where the problem has been
more of timing rather than performance.The
launching of the MIP scheme by the fund is appropriate especially in the present volatile
market conditions. Investors who are risk averse can definitely think of investing
in this scheme to get regular income and growth.
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