ICICI Prudential Floating Interest Fund Growth
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|Fund Type||Floating Rate|
More about this fund
|5.09% Govt Stock 2022||6.44%|
|5.22% GOI 2025||4.74%|
|Embassy Office Parks Reit||3.56%|
|6.79% Govt Stock 2027||3.24%|
|Motherson Sumi Systems Limited||3.05%|
|State Bank of India||2.73%|
|Muthoot Finance Limited||2.63%|
|182 DTB 25032021||2.6%|
About ICICI Prudential Floating Interest Fund
As the name suggests, the Scheme is an open ended debt scheme predominantly investing in floating rate instruments (including fixed rate instruments converted to floating rate exposures using swaps/derivatives).
Pros & Cons of ICICI Prudential Floating Interest Fund
ICICI Prudential Floating Interest Fund offers following features:
- The Scheme was unable to beat benchmark on 1 year, 3 year and 5 year investment horizon.
- It also under-performed on returns since inception compared to benchmark index (with a CAGR return since inception of 7.94%).
Fund Information and Statistics of ICICI Prudential Floating Interest Fund
i) Inception / Launch date
The Scheme was launched on 17 November 2005 and was formerly known as ICICI Prudential Savings Fund. The Scheme is benchmarked against CRISIL Ultra Short Term Debt Index.
ii) Risk level
Being a debt fund, the scheme is moderately risky and suitable for investors looking for short term savings with a recommended investment horizon of at-least 60 days or above.
The Scheme is open for repurchase/redemptions on all business days. Redemption proceeds are despatched within 10 business days from the date of the receipt of valid redemption request.
iv) Fund Manager
The Scheme is currently being co-managed by Mr. Rahul Goswami who is managing the scheme since September 2012 and Mr Nikhil Kabra who is managing the scheme since August 2016.
v) Entry / Exit load
There is no exit load charged by the fund house for any redemption/switched-out from the Scheme. Entry load is not applicable for subscriptions/switch-in of units.
Tax benefits of investing in ICICI Prudential Floating Interest Fund
Long Term Capital Gains (“LTCG”) are taxed @ 20% after indexation if units are held for more than 36 months. Short term capital gains (“STCG”) are taxed as per the income tax slab. It is advisable to hold the investment for more than 36 months to avail tax benefits.
About ICICI Prudential Mutual Fund
ICICI Prudential Mutual Fund is a joint venture between ICICI Bank and Prudential Plc. Prudential Plc is one of the largest players in UK financial services sector. The fund house offers investment options such as diversified to sector specific equity schemes, balanced and fixed income funds. Mr. Nimesh Shah is MD & CEO of the Fund House.
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Min amount: ₹100
All investments come with risk. Risk is the volatility or fluctuation in the price (and returns) of the investment. Usually,
- High Risk = High possible returns
- Low Risk = Stable, relatively lower returns