ICICI Prudential Mutual Fund is launching NFO under its “ETF Category”, named as ICICI Prudential Nifty PSU Bank ETF. This open-ended fund to provide returns that correspond to the returns provided by NIFTY PSU Bank Index, subject to tracking error.
Investment strategy: The scheme will invest its major corpus in stocks constituting the underlying index in the same proportion as in the Index and endeavor to track the benchmark index. Only a small amount will be kept liquid to meet the liquidity and expense requirements.
Asset allocation: ICICI Prudential Nifty PSU Bank ETF aims to provide returns that correspond to the returns provided by NIFTY PSU Bank Index.
Who should invest?
Investors with high risk appetite and want to invest for 5 to 7 years in a mutual fund should invest in ICICI Prudential Nifty PSU Bank ETF. The scheme will be traded on BSE and NSE after five days of the allotment.
Risk associated: Very high level of risk.
Benchmark: Nifty PSU Bank Index.
Fund Managers: Mr. Kayzad Eghlim.
The NFO is available for subscription from March 13 to March 15. The schemes will reopen for continuous sale and repurchase within five Business Days from the date of allotment. The fund offers systematic investment solutions like SIP and SWP to create a flexible investment plan. The minimum subscription amount is Rs 1,000/- and in multiples of any amount thereafter.
It offers Regular Plan and Direct Plan. Each plan offers Growth and Income options. Click here to invest in ICICI Prudential Nifty PSU Bank ETF.
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