ICICI Prudential Life Insurance Launches New Debt Fund ‘ICICI Pru Constant Maturity Fund’

Current Context: ICICI Pru Constant Maturity Fund is a new debt fund launched by ICICI Prudential Life Insurance on May 15, 2023. It is available with the insurer’s Unit-linked insurance plans (Ulips) and has a lock-in of five years.

• The fund invests in government securities having a constant maturity of 10 years and has a relatively high interest rate risk and relatively low credit risk.
• The fund has an expense ratio of 0.39% for the regular plan and 0.23% for the direct plan.
• The fund has given an annualized return of 8.14% for one year and 8.56% for five years for the regular plan and 8.31% for one year and 6.9% for five years for the direct plan.

Question:

Q.1 What is the name of the new debt fund launched by ICICI Prudential Life Insurance on May 15, 2023?
a. ICICI Pru Gilt Fund
b. ICICI Pru Constant Maturity Fund
c. ICICI Pru Dynamic Bond Fund
d. ICICI Pru Credit Risk Fund