ICICI-Pru to unveil first FMP for retail investors

Mumbai: India's second largest mutual fund house ICICI-Prudential is offering a fixed maturity plan for retail investors. ICICI Prudential's equity-linked Fixed Maturity Plan (FMP) endeavours to couple the best features of equity and FMP. The most attaining feature of equity is its growth potential and the most salient feature of 'FMP' is its structure of downside protection. We hope to achieve the twin objective through the product. ICICI's product was India's first equity-linked FMP. Conventional investors fear a loss of money when the equity markets go down. This product will have ideally protected investors from wealth erosion in the recent crash. The equity-linked FMP brings an investment solution that offers risk-managed returns. This kind of product is popular among HNI clients of foreign banks. The minimum ticket size for the product being offered by foreign banks is Rs 10 lakh and above. The investors profit when the Nifty goes up. If the Nifty goes down, the fund is designed such that investors do not lose their initial corpus.

Categories: Mutual Funds, NFO