As the name suggests, Floater Funds are open-ended debt funds that primarily invest in floating rate instruments (including fixed rate instruments converted to floating rate exposures using swaps/derivatives). The interest rates of these instruments are reset periodically based on the interest rate movement. Interesting, isn’t it?
This scheme invests minimum 65% of its total assets in floating rate instruments.
The rate of return is largely determined by the fluctuating interest rates in the economy.
Floater Funds aim to offer benefits in line with the prevailing interest rates in the economy. Therefore, investing in this type of scheme can help, especially if the interest rate is rising.
Being an open-ended scheme it gives you the flexibility to choose when to enter or exit. This lets you easily manage your investment corpus as per the fluctuating market conditions.
This scheme type predominantly invests in floating rate instruments and so the risk associated with changing interest rate movement is considerably low. However, the change in interest rates might also affect the value of the securities.
This scheme type provides diversification to your portfolio by investing in both floating rate instruments and fixed-rate instruments. Fixed rate securities include money market securities, government securities and other debt securities.
Are you a risk-averse investor with an aim to make short-term savings? This scheme type is for you!
It can be helpful for investors who are ready to park surplus cash with an investment horizon of 6 months and above.
An Investor Education & Awareness Initiative by ICICI Prudential Mutual Fund
Click here to learn
more about KYC requirements, SEBI registered Mutual Funds and grievance redressal.
Mutual Fund
investments are subject to market risks, read all scheme related documents carefully.
Visit www.icicipruamc.com/note to know more about the process to complete a
one-time Know Your Customer (KYC) requirement to invest in Mutual Funds. Investors should only deal with
registered Mutual Funds, details of which can be verified on the SEBI website www.sebi.gov.in/intermediaries.html
For any queries, complaints & grievance redressal, investors may reach out to the AMCs and / or Investor
Relations Officers. Additionally, investors may also lodge complaints on https://scores.gov.in if they are
unsatisfied with the resolutions given by AMCs. SCORES portal facilitates you to lodge your complaint online
with SEBI and subsequently view its status.
I. Know Your Customer (KYC):
• A recent passport sized
Photograph
• A Proof of identity – A copy of your
PAN card
• A Proof of Address – A copy of your Voter ID card, Passport or Driving License
To
invest in Mutual Funds, you will need to complete your Know Your Customer (KYC) requirements. You can do
so by visiting any AMC branch or nearest Point of Service and submitting the completed KYC Form along with
all the required self-attested documents.
Individual investors would be required to submit the following documents –
If you are already KYC Verified and would like to update any of your information, you can submit a completed
KYC Details Change Form with the required self-attested documents at your nearest AMC branch or Point of
Service.
II. SEBI registered Mutual Funds:
We advise investors to make
informed decisions and are cautioned to invest only
with SEBI registered Mutual
Funds. List of Registered Mutual Funds is available at sebi.gov.in/intermediaries.html!
III. Complaint Redressal:
For any queries, complaints &
grievance redressal you can reach out to us at
enquiry@icicipruamc.com or call
us on 1800222999.
If you are unsatisfied with the resolution or wish to escalate the matter, you may
write to Investor Service
Officer at servicehead@icicipruamc.com. For this purpose, Mr. Rajen Kotak is the Investor Relations Officer
of the Mutual Fund. He can be contacted at 2nd Floor, Block B-2, Nirlon Knowledge Park, Western Express
Highway, Goregaon (East), Mumbai – 400 063. Tel No.:022-2685 2000, FAX No.: 022 -2686 8313.
In case the
investor is not satisfied with the resolution given by AMC, he can approach SEBI by registering
his complaint on SCORES (SEBI Complaints Redress System) through scores.gov.in/scores/Welcome.html!
Mutual
Fund investments are subject to market risks, read all scheme related documents carefully.
