Annual Intervention Plan of ICICI Prudential Mutual Fund winds up

ICICI Prudential Mutual Fund winded up its annual interval plan ICICI Prudential Interval Fund – Series VI – Annual Interval Plan D was wound up from April 11, as it did not meet the minimum requirement of asset under management and minimum number of investors’ criterion.

According to a Securities and Exchange Board of India guidelines, all open-ended debt-oriented schemes must have assets under management of at least Rs 20 crore at all times and should have a minimum of 20 investors and no single investor shall account for more than 25 percent of investable fund.