ICICI Pru AMC introduces additional frequencies under dividend option of Ultra Short Term Fund

ICICI Prudential Asset Management Company has announced changes in Scheme Information Document (SID) and Key Information Memorandum (KIM) of ICICI Prudential Ultra Short Term Fund.

As per the announcement, in addition to the existing dividend frequencies, daily, weekly & fortnightly frequencies for dividend will be introduced in the plans open for subscription under the ICICI Prudential Ultra Short Term Fund, with effect from October 17, 2018. Further, in case of daily frequency, dividend will be mandatorily reinvested. In case of Weekly and Fortnightly frequencies, dividend payout and dividend reinvestment sub-options will be available. The minimum amount for dividend payout shall be Rs 100 (net of dividend distribution tax and other statutory levy, if any), else dividend would be mandatorily reinvested. The option to hold the units in demat form will not be available for daily/weekly/fortnightly dividend options. The Trustee reserves the right to declare dividend under the dividend option of the Scheme depending on the availability of distributable surplus.

All the other provisions of the SID/KIM/addenda of the schemes remain unchanged.