ICICI Prudential Savings
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Min amount: 500
- Fund Summary
- More about Fund
- Why Cleartax
|Risk||Moderately Low risk|
|Fund Type||Low Duration|
More about this fund
|Indiabulls Housing Finance Limited||6.57%|
|Parimal Finance Private Limited||5.65%|
|Rural Electrification Corporation Limited||4.6%|
|Bharti Airtel Limited||1.77%|
|Shriram Transport Finance Company Limited||1.64%|
|7.37% Govt Stock 2023||1.51%|
|NABHA POWER LIMITED||1.5%|
|Bahadur Chand Investments Private Limited||1.49%|
|Mahindra & Mahindra Financial Services Ltd||1.49%|
About ICICI Prudential Savings Fund
The ICICI Prudential Savings Fund is an open-ended, low-duration debt scheme. It seeks to maximize short-term savings by investing in debt securities and money market instruments while maintaining an optimal balance between liquidity, safety, and yield.
Pros & Cons of ICICI Prudential Savings Fund
- The scheme primarily invests in debt and money market instruments in a manner that the Macaulay Duration of the portfolio is between 6 and 12 months.
- As on September 30, 2018, the scheme is ranked 3 under CRISIL’s Low Duration Fund category.
- Further, it has generated returns of 8.17% per year over the last 10 years (as on January 04, 2018).
Fund Information and Statistics of ICICI Prudential Savings Fund
i) Inception / Launch date
The scheme was launched on 27 September 2002 by ICICI Prudential Mutual Fund.
ii) Risk level
The scheme is suitable for investors seeking short-term savings and invests in debt and money market securities carrying a moderately-low risk level.
The minimum redemption amount is Rs. 500. Further, the redemption proceeds are dispatched within 10 business days of the receipt of a valid redemption request.
iv) Fund Manager
Mr. Rahul Goswami (since September 2012), and Mr. Rohan Maru (since September 2013) are the Fund Managers of the ICICI Prudential Savings Fund.
v) Entry / Exit load
There is no entry load or exit load in this scheme.
Tax benefits of investing in ICICI Prudential Savings Fund
The following taxes are applicable to income arising from investing in this scheme: 1. STCG from the debt component is added to the investor’s income and taxed as per the income-tax slab. 2. LTCG component is taxed at 20% with indexation benefits.
About ICICI Mutual Fund
ICICI Prudential Balanced Advantage Fund is managed by ICICI Mutual Fund AMC, one of India’s largest Fund houses with a proven track record of delivering returns. The fund has been on the forefront of financial innovation leading to a well-diversified portfolio of around 47 mutual fund products, across equity and debt.
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Min amount: 500
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