ICICI Pru AMC announces regarding ‘Switch In’ & ‘Switch Out’ under various schemes

ICICI Prudential Asset Management Company (AMC) has announced changes in Scheme Information Document (SID), Key Information Memorandum (KIM) of various schemes of ICICI Prudential Mutual Fund.

With reference to the addendum 15/20/2020 dated 30th December, 2020 on applicability of net asset value (NAV), ICICI Prudential Asset Management (AMC) announced that valid applications for switch from one scheme to another scheme will be considered for processing as follows: ‘Switch Out’ shall be treated as redemption application and accordingly, closing NAV of the day will be applicable based on the cut-off time for redemption followed for various type of schemes. ‘Switch In’ shall be treated as purchase application and accordingly for unit allotment, closing NAV of the day will be applicable on which the funds are available for utilization. The aforesaid provision shall also apply to systematic transfer plans (STP) & transfer of Income Distribution cum Capital withdrawal (IDCW) plan irrespective of IDCW record date.

All the other provisions of the SIDs/KIMs of the Schemes except as specifically modified herein above remain unchanged.