Personal Finance Blog India –

ICICI Prudential Value Fund NFO March-April 2017:

New Fund Offer – ICICI Prudential Mutual Fund has come up with a new closed end fund offer with value oriented investment  theme: ICICI Prudential Value Fund Series 12.

Details of ICICI Prudential MF Value Fund Series 12:

  1. NFO Open Date:March 27, 2017.
  2. NFO Close Date:April 10, 2017.
  3. Fund tenure:1360 Days.
  4. Options available:Dividend option only.Time to time scheme will distribute income generated to unit holders.There is no growth option available for investors.But investor can use DTP -Dividend Transfer Plan to switch dividend in any other open ended scheme of ICICI Prudential mutual fund.

As per AMC website,Fund may invest in 25-30 stocks which may benefit due to governments focus on infrastructure development across the country,initiatives such as smart cities,digitization and e-commerce which will receive substantial support in form of budgetary allocation and policy reforms.

Overall,Government set to make the infrastructure sector a key driver for Indian economy and this fund aims to invest in these stocks  or sectors which are suitably positioned to benefit from the current economic scenario.

This fund will managed by S Naren who is CIO-Chief Investment Officer & George Joseph – a senior fund manager who is managing ICICI Pru Long Term Equity (Tax Saving),ICICI Pru Child care,ICICI Pru Multicap fund along with other closed ended schemes.

HDFC Charity Fund For Cancer Cure March 2017:

If you are looking to participate in charity,here is an opportunity for you. HDFC MF Charity Fund for Cancer cure. Investor can donate dividends towards charity,providing treatment towards needy & underprivileged cancer patients.

HDFC Charity fund for cancer cure fund:

1.It is an 1136 days closed ended scheme (Arbitrage or Debt option) from HDFC Mutual fund which aims to provide cash flow in form of dividends towards charity.

2.Investor have two donation options:Donate either 50% or 100% of the dividends declared in this plan.

3.Two investment options for investors: Investor can choose from either Arbitrage or Debt option.Under arbitrage option, fund manager will utilize price differentials between cash & future market to generate income.In debt option,manager will invest in fixed income securities maturing within schemes period to generate income.

4.Dividends in mutual funds are tax free in hands of investors.

5.Tax deduction u/s 80G : Donation of dividends made towards charity are eligible for tax deduction under section 80G of I.T.act.


How HDFC AMC will participate in social objective:

  1. AMC will not levy any investment and management fees to manage charity fund for cancer cure.
  2. HDFC AMC will match for donations towards dividends and will contribute for equal amount of corpus  subject to maximum cap of Rs.15 Crore.

This is third offering by HDFC MF of this kind.This new fund offer will open for subscription for period between March 10, 2017 to March 24, 2017.

Mutual Funds with Instant Redemption Facility:

Now,investors can manage their savings more efficiently after introduction of Instant Access Facility (IAF) by Liquid schemes of certain mutual funds.Investor can have instant access to money up to Rs.50,000 or up to 90% redeemable fund value,which one is lower.


Mutual Funds with Any Time Redemption Facility

Currently following funds are offering instant access facility:

Facility will be available only in Growth option.

  1. Reliance Liquid Fund-Treasury Plan.
  2. DSP Blackrock Liquidity fund.
  3. UTI Money Market fund.
  4. Birla SL Cash Plus 
  5. SBI Instacash Fund.
  6. ICICI Prudential Liquid Fund.
  7. Indiabulls Liquid Fund

What investors need to remember while opting for instant redemption facility:

  1. To opt for this facility,IFSC code need to be registered in the folio.
  2. Investors registered bank need to be Immediate Payment Service (IMPS) enabled.
  3. Facility may available for transactions made only through website or mobile app.
  4. As per SEBI guidelines, funds offering Instant Access Facility (IAF)can keep daily redemption limit as Rs.50,000 or 90% of redeemable fund value which one is lower.
  5. Routine offline redemption facility as per current business cycle available as it is.

What investor should understood:

Investors should understand that there might be certain scenarios when Instant Access Facility can be suspended or may not be available and such redemption can be processes like normal redemption..

Probability of suspension of this facility may be rear but it can be done under following scenarios:

  1. Requests for redemption are much more higher than routine number.
  2. If there are clearing issues from bank side.
  3. If scheme is facing extreme liquidity issues.
  4. Operational / Technical issues in online redemption facility.

Rest, this is very good facility being offered by mutual funds where investor can invest idle cash in liquid funds, stand a chance to get reasonable appreciation and at the same time it can take care of unseen emergency expenses.

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