ICICI Pru AMC announces Non-applicability of Minimum Application & Minimum Redemption amount
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ICICI Prudential Asset Management Company (AMC) has announced changes in Scheme Information Document (SID) and Key Information Memorandum (KIM) of ICICI Prudential Mutual Fund.
SEBI vide its circular SEBI/HO/IMD/IMD-I/DOF5/P/CIR/2021/553 dated April 28, 2021 read with SEBI/HO/IMD/IMD-IDOF5/P/CIR/2021/624 dated September 20, 2021, (Alignment of interest of Designated Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes) has, mandated that a minimum of 20% of gross annual CTC net of income tax and any statutory contributions of the Designated Employees of the AMCs shall be invested in units of the scheme(s) of the Fund in which they have a role/oversight. The said guidelines came into effect from the October 1, 2021. In accordance with the aforesaid regulatory requirement, the minimum application amount and minimum redemption amount wherever specified in the concerned SID / KIM will not be applicable for investment made in schemes of the Fund in compliance with the aforesaid circular(s).
All the other provisions of the SIDs/KIMs of the Schemes except as specifically modified herein above remain unchanged.
