ICICI Prudential Midcap Fund will limit fresh and additional investments to ₹10 lakh per PAN per day starting October 8, 2026. This means investors cannot invest more than ₹10 lakh in a single day under one PAN through lumpsum or switch transactions. Any transaction exceeding this limit will be fully rejected without partial acceptance.
- Fresh and additional subscriptions capped at ₹10 lakh per PAN per day from October 8, 2026.
- Limit applies to lumpsum and switch transactions.
- Transactions exceeding ₹10 lakh will be completely rejected.
- Income Distribution cum Capital Withdrawal (IDCW) announced for two schemes.
- IDCW fixed at ₹1.60 per unit for select plans and ₹0.0500 per unit for Fixed Maturity Plan Series 88.
Why is ICICI Prudential Midcap Fund capping fresh investments?
The trustee of ICICI Prudential Mutual Fund approved this cap to manage the fund’s inflows effectively. By limiting fresh and additional subscriptions to ₹10 lakh per PAN per day, the fund aims to maintain a balanced portfolio and ensure fair participation among investors.
How will the investment limit be enforced?
The fund house will reject any transaction that causes the daily investment limit to be exceeded. Partial acceptance of amounts over the limit will not be allowed. This rule applies to all lumpsum and switch transactions under the scheme.
What changes have been made to the Scheme Information Document (SID) and Key Information Memorandum (KIM)?
An addendum to the SID and KIM of ICICI Prudential Midcap Fund has been issued to communicate the new investment limit. Except for this change, all other provisions in the SID, KIM, and previous addenda remain unchanged.
What are the recent Income Distribution cum Capital Withdrawal (IDCW) announcements?
ICICI Prudential Mutual Fund declared IDCW distributions for two schemes. For the ICICI Prudential Midcap Fund under the IDCW and Direct Plan-IDCW options, the IDCW amount is ₹1.60 per unit based on a face value of ₹10 per unit.
Additionally, the ICICI Prudential Fixed Maturity Plan – Series 88 – 1303 Days Plan S will distribute an IDCW of ₹0.0500 per unit. The record date for this plan is October 6, 2026, or the next business day if October 6 is a non-business day.
Do the subscription limit and IDCW announcements apply to the same schemes?
No, the subscription limit change applies specifically to the ICICI Prudential Midcap Fund, while the IDCW announcements pertain to different schemes. Each announcement has its own effective and record dates.
What should investors keep in mind regarding these updates?
Investors should note the new ₹10 lakh daily investment cap to avoid transaction rejections. They should also be aware of the IDCW distributions if they hold units in the specified schemes. It is advisable to consult a registered financial advisor before making investment decisions.
