Home / Mutual Funds / ICICI Pru MF files draft SID for G-Sec Index Fund-Dec 2030
Listen to this article

ICICI Pru MF filed a draft scheme information document (SID) for a G-Sec Index Fund – Dec 2030 - an open-ended target maturity index fund investing in the constituents of Nifty G-Sec Dec 2030 Index. In the risk matrix, the scheme is grouped under a relatively high interest rate risk and relatively low credit risk category.

The investment objective of the scheme is to track the Nifty G-sec Dec 2030 Index by investing in Government Securities, maturing on or before Dec 2030. Thus, the scheme will mature on December 31, 2030.

The scheme allocates 95-100 per cent in G-sec forming part of Nifty G-sec Dec 2030 Index. The performance of the Scheme would be benchmarked against the same index. And the fund will be managed by Anuj Tagra.

The minimum application amount is 1,000 and multiples of 1 thereafter. 

Generally, the Scheme will follow Buy and Hold investment strategy in which existing Gsecs will be held till maturity unless sold for meeting redemptions requirement. The index will be reviewed at the end of each calendar quarter.

The portfolio of eligible securities invested by the Scheme is expected to have, in aggregate, fundamental characteristics such as modified duration, weighted average maturity, aggregate credit ratings, aggregate Yield-to-Maturity (YTM) etc. along with other liquidity parameters in line with Nifty G-sec Dec 2030 Index. The Issuer weight of the Scheme will be broadly in line with the Issuer weights in the Index subject to suitability and availability G-secs.; The Scheme, in general, will hold all of the securities that comprise the Underlying Index in the same proportion as the index.

In terms of taxation, the gains from the sale of the fund will be considered as capital gains. While the short-term gains (if sold before three years) is taxed at the applicable tax rate, long term capital gains are taxed at 20 per cent with indexation benefits. 

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
Get alerts on WhatsApp
My ReadsRedeem a Gift CardLogout