icici pinnacle prudential super

POSTED BY Ramprakash ON April 14, 2012 2:04 pm COMMENTS (7)

Has any one got any idea about icici pinnacle super? Is it good for 10 year horizon?
This is what my relationship manager told me. “Invest 50k every year for first 5 years. Matures at the end of 10 years. They calculate NAV on every Friday. Your maturity at the end of 10 years will be based on the highest NAV of first 7 years. Right now its NAV is 9.4. NFO price was 10. The highest NAV since inception is been 10.52. Thats already 12% benefit atleast for the first year.”

Sounds too good to be true.
Its about to close by April End.

Here is the link to the brochure.

7 replies on this article “icici pinnacle prudential super”

  1. Ramprakash – While it is good that you gave this ULIP a miss and thinking about MFs I wanted to point out ICICIDIRECT, apart from letting you see your entire portfolio in the same place, carries no other benefit. Indeed the charges are very steep considering there are avenues where you have no charge at all!

    Opt for Moneysights/FundsIndia etc. for your MF portfolio. Enough has been discussed in the forums on those sites!

  2. Ramprakash says:

    I haven’t decided yet. The original plan was to invest 50k lumpsum in the above product.
    Now it has to be a couple of Mutual Funds. Since my PPF and PF buckets for this year are already full. I know that in MF, SIP mode is often recomended over lumpsum. I have read a few suggestions on the forum to invest a lumpsum amount in a liquid fund and use STP to transfer in equity fund. But since I invest in IPOs, NCDs, Company FDs & MF through ICICIDirect, I wonder if ICICIDIRECT will charge Rs.15-25 for every STP as they do for SIP. The MFs I have short listed are HDFC Top 200, HDFC Prudence & Quantum LTEF. For Quantum I am planning to go directly through the Quantum website instead of icicidirect.

    1. Dear Ramprakash, Quantum Long Term Eq. fund is indeed a good fund to invest in. My take ‘ll be to go for funsindia for your MF needs. Use Debt – STP – Eq. fund route to invest in your choice of Eq. fund.



  3. Ramprakash says:

    I knew it was too good to be true. But could not figure out where was the game being played.

    Thanks Ajay for fishing out a two year old link which explained everything crystal clear.

    @ Ramesh Ya. I had missed the 6% charges for the first year. Read the brochure in detail and there seems to be a host of other charges as well.

    I will give the product a miss! 🙂

    1. Dear Ramprakash, good to know that you were able to call it off in time. Now where do you want to invest that money?



  4. Ramesh says:

    Please go through the details yourself, and then see if it is really what you want. Then if you have queries, ask here.

    Do you think that 12% for first year will hold true for 10 years on a CAGR basis? Actually, you seem to have missed the 6% allocation charge for first year. 😉

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