ICICI Prud MF Announces NFO Of ICICI Prud Target Returns Fund

ICICI Prudential Mutual Fund has announced the launch of the ICICI
Prudential Target Returns Fund, an open ended diversified equity fund
on 15 April 2009. The new issue will be open for the subscription till
14 May 2009. The NFO price for the fund is Rs 10 per unit.

Features of the scheme: Investment objective: The investment objective
plan is to seeks to generate capital appreciation by investing in
equity or equity related securities of large market capitalization
companies constituting the BSE 100 index and providing investors with
options to withdraw their investment automatically based on triggers
for preset levels of return as and when they are achieved.

Investment options: The scheme offers two plans viz. retail and
institutional plan I. Retail option will have growth and dividend as
sub options with dividend payout and dividend reinvestment facilities
available under Dividend sub option. Institutional option I will have
only growth sub-option. Retail op tion with dividend reinvestment
facility will be the default option.

Minimum application amount: The minimum investment amount under retail
plan is Rs. 5,000 and in multiples of Re 1 thereafter. And under
institutional plan I, the minimum investment amount is Rs. 1 lakh and
in multiples of Re 1 thereafter.

Minimum target amount: The fund seeks to raise a minimum subscription
amount of Rs. 1 crore during its New Fund Offer period.

Asset allocation: The scheme will invest 65-100% in equity and equity
related securities with medium to high-risk profile. Up to 35% of
total asset will be devoted to debt and money market instruments with
low to medium risk.

The investments in ADR/GDR up to 50% of allocation to equity & equity
related securities maximum. The scheme may invest in derivatives up to
75% of its net assets of the scheme. Stock lending shall be up to 30%
of the net asset of the scheme.

Load structure: Entry load: For retail option, the fund will charge
entry load of 2.25% of applicable NAV for an investment amount less
than Rs 2 crore. For an investment amount of Rs 2 crore and above, no
entry load will be applicable.

While for institutional option I, no entry load will be charged.

Exit Load: For an investment amount of less than Rs 2 crore, if amount
sought to be redeemed before 6 months from the date of allotment, 1.5%
will be exit load. If the amount sought to be redeemed on or after 6
months but before 12 months from the date of allotment, 1% of
applicable NAV should be charged as an exit load. For redemption on or
after 12 months, no exit load will be applied.

For investment amount of Rs 2 crore and above, the scheme will not
levy exit load. Institutional option I may not charge an exit load.

Benchmark Index: The benchmark index for the scheme is BSE 100 Index.

Fund Manager: Sanjay Parekh will be the fund manager for the scheme.