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ICICI Prudential MF launches Nifty ETF


ICICI Prudential MF launches Nifty ETF
ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Nifty Exchange Traded Fund, an open ended fund. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit.

The new issue which is open for subscription from 1 March will close on 18 MArch 2013.


Investment Objective:

The investment objective of the scheme is to provide returns before expenses that to the total return of the Underlying Index, subject to tracking errors. However,there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Minimum Application Amount is Rs 5000/- and in multiples of Re.1.


The corpus of ICICI Prudential Nifty ETF will be invested predominantly in stocks constituting CNX Nifty Index and subject to tracking errors, the Scheme would endeavour to attain returns comparable to CNX Nifty Index. This would be done by investing in almost all the stocks comprising CNX Nifty Index in approximately in the same weightage that they represent in CNX Nifty Index. In view of the same, performance of the Scheme will be benchmarked with CNX
Nifty Index.


Repatriation benefits would be available to NRIs/PIOs/FIIs, subject to applicable Regulations
notified by Reserve Bank of India from time to time. Repatriation of these benefits will be
subject to applicable deductions in respect of levies and taxes as may be applicable in present
or in future.

The scheme will allocate 95% - 100% of assets in securities of companies constituting CNX Nifty Index (the underlying index) with medium to high risk profile, and up to 5% of assets in money market instruments having residual maturity upto 91 days with low to medium risk profile.

The fund manager of the scheme will be by Mr. Kayzad Eghlim.

The schemes performance will be benchmarked against CNX Nifty.

Read more about: mutual funds icici nifty etf
Story first published: Tuesday, March 5, 2013, 16:28 [IST]
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