ICICI Prudential Monthly Income Plan (Monthly Income is not assured and is subject to availability of distributable surplus) paid its 100 consecutive dividend in February 2009. The fund has accomplished an unparalleled feat and has not missed a single dividend* payment in the last 8 plus years since its inception in November 2000(Source – Mutual Fund India Explorer).
The fund, true to its mandate has paid 100 consecutive dividends* since its inception in November 2000. The fund has maintained optimal asset allocation to ensure regular monthly dividend payouts despite 2008 being a down beat year. Effective portfolio strategy through optimal asset allocation to ensure regular monthly dividend payouts has been the driver of performance consistency
Speaking on the occasion, Mr. Nimesh Shah, Managing Director, ICICI Prudential AMC said, “ICICI Prudential AMC has been focused at ensuring that investor interest and performance consistency forms the basis of all initiatives. This feat reinforces our continued strive to deliver on the commitments that we have given to our investors of prudently managing their monies. We believe that, such achievements demonstrate our dedication to partner with investors in helping them realize their financial goals, which will help us further strengthen our valuable investor relationships”
Monthly Income Plans are ideal investment option for investors seeking an alternate source of income. Theses funds are managed conservatively in terms of equity allocation and are also suitable for investors who neither may nor seek monthly income but would want to initiate investments in Equity but gradually through a product which bridges the gap between Equity and Debt. 2009 is expected to be a year of rebalancing the Portfolio, with allocating increasingly towards Equity and ICICI Prudential Monthly Income Plan(Monthly Income is not assured and is subject to availability of distributable surplus) may help investors successfully achieve this objective through facilitating optimum asset allocation.
The AUM of ICICI Prudential Monthly Income Plan (Monthly Income is not assured and is subject to availability of distributable surplus) for the month of February 2009 is Rs. 210.15 Crores, the largest AUM amongst the MIP category (Source –www.amfiindia.com).
About the Fund
ICICI Prudential Monthly Income Plan (MIP) (An open ended fund. Monthly Income is not assured and is subject to availability of distributable surplus) is designed to be a low risk income-generating product for an investor who likes to earn the short term debt market return - enhanced by a small equity component that does not significantly add to the risk of the portfolio. The objective is to keep interest rate risks and credit risks low by investing in high quality debt instruments. The portfolio is dynamically managed to alter asset allocation, depending on equity / debt market scenario.
*Past performance may or may not be sustained in the future. Pursuant to payment of dividend, NAV will fall to that extent of dividend payout
About ICICI Prudential Asset Management Company
ICICI Prudential Asset Management Company Ltd. is the joint venture between ICICI Bank, a well-known and trusted name in financial services in India and Prudential Plc, one of UK’s largest players in the financial services sectors. ICICI Prudential Asset Management Company, in a span of just over ten years, has forged a position of preeminence in the Indian Mutual Fund industry as one of the largest asset management companies in the country with average assets under management of around Rs. 53,538.20 Cr as on February 28, 2009 (Source: www.amfiindia.com). The Company manages a comprehensive range of schemes to meet the varying investment needs of its investors.