ICICI Prudential Mutual Fund has introduced the CRISIL-IBX AAA Bond Financial Services Index – December 2026 Fund.
This is an open-ended target maturity index fund that invests in the components of the CRISIL-IBX AAA Financial Services Index – December 2026.
It has moderate interest rate risk and low credit risk, making it suitable for investors seeking stable income until December 2026.
The New Fund Offer (NFO) period will run from January 17, 2025, to January 24, 2025.
The fund aims to track the performance of the CRISIL-IBX AAA Financial Services Index – December 2026 while accounting for tracking errors.
Investment Details and Benchmark
The minimum investment required during the NFO is ₹1,000, with additional investments allowed in multiples of ₹1.
This applies to regular investments, switch-ins, and systematic investment plans (SIPs) or systematic transfer plans (STPs).
The fund’s performance will be measured against the CRISIL-IBX AAA Financial Services Index – December 2026, which serves as its benchmark.
Redemption Rules and Exit Load
As an open-ended scheme, investors can purchase, redeem, or switch units daily based on the fund’s Net Asset Value (NAV).
For redemptions made after 30 days, there is no exit load. However, if units are redeemed within 30 days of allotment, a 0.25% exit load will apply.
Per SEBI regulations, redemption amounts must be processed within 3 business days.
Failure to meet this deadline will result in a penal interest of 15% per annum, as outlined in AMFI guidelines dated January 16, 2023.
This fund is ideal for investors focused on stable long-term returns, with investments targeting securities maturing by December 2026 or earlier. However, there is no assurance of achieving the target or specific returns.
