CRISIL ‘P1+f’ for ICICI-Pru’s Interval Fund II
CRISIL has assigned P1+f rating to ICICI Prudential Interval Fund II - Quarterly Interval Plan E.
By INDIATIMES NEWS NETWORK |
MUMBAI: CRISIL has assigned P1+f rating to ICICI Prudential Interval Fund II – Quarterly Interval Plan E. CRISIL’s rating indicates that the fund’s portfolio will provide ‘very strong’ protection against losses from credit defaults.
The fund is managed by ICICI Prudential Mutual Fund’s asset management company, ICICI Prudential Asset Management Company. The rating is not an opinion on the AMC’s willingness or ability to make timely payments to investors. It is also not an opinion on the stability of the fund’s net asset value, as the NAV could vary with developments in the market.
Interval funds combine the features of both open- and close-ended funds. They are open for sale and repurchase at predetermined periodical intervals. For example, a quarterly interval fund would be open for sale or repurchase at the end of every quarter. Such a scheme would invest in securities that would also mature at the quarter-end. Investors in the scheme have the option to either redeem or roll over their holdings on to a new series of such a fund, which would have a distinct portfolio separate from the earlier scheme.
CRISIL’s assessment of a bond fund’s credit quality is based on the creditworthiness of the fund’s portfolio.
The fund is managed by ICICI Prudential Mutual Fund’s asset management company, ICICI Prudential Asset Management Company. The rating is not an opinion on the AMC’s willingness or ability to make timely payments to investors. It is also not an opinion on the stability of the fund’s net asset value, as the NAV could vary with developments in the market.
Interval funds combine the features of both open- and close-ended funds. They are open for sale and repurchase at predetermined periodical intervals. For example, a quarterly interval fund would be open for sale or repurchase at the end of every quarter. Such a scheme would invest in securities that would also mature at the quarter-end. Investors in the scheme have the option to either redeem or roll over their holdings on to a new series of such a fund, which would have a distinct portfolio separate from the earlier scheme.
CRISIL’s assessment of a bond fund’s credit quality is based on the creditworthiness of the fund’s portfolio.
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