ICICI Prudential Target Returns Fund receives a splendid response

Collects over Rs. 800 Crores during the new fund offer

ICICI Prudential Target Returns Fund (There is no guarantee or assurance of returns), an open ended diversified equity fund launched by ICICI Prudential AMC on April 15th, 2009, has received an overwhelming response from investors and has collected over Rs. 800  Crores during the New Fund offer (NFO) period ended on 14th May, 2009. The fund has seen a significant response from retail investors with almost 90% of the collection through retail participation.

ICICI Prudential Target Returns Fund (There is no guarantee or assurance of returns) is specially designed with the objective of providing investors with trigger options to pre-set their investment objectives by allowing them to re-balance the investment to pre-selected debt funds, once their investment objectives are met. The fund utilizes fundamental analysis for individual security selection with a view to invest in equities of companies that are highly liquid with large market capitalization.

The unique nature of the product has attracted significant retail participation.

Mr. Vikram Kaushal, Head Retail Sales & Distribution commented on the success, “ICICI Prudential AMC has always offered investor focused products to its customers. We believe that we have conceptualized the right product at the right time thus resulting in remarkable investor appetite in the fund. The tremendous response received from retail investors reaffirms their faith in the disciplined investment approach the schemes of ICICI Prudential AMC follow.”

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.56074.65 Crores as on April  30, 2009  (Source: www.amfiindia.com). The Company manages a comprehensive range of schemes to meet the varying investment needs of its investors.