Publish Date:
ICICI Prudential Mutual Fund has launched – ICICI Prudential Nifty50 Value 20 Index Fund.
It is an open ended Index scheme replicating Nifty50 Value 20 Index.
Accordingly, the investment objective of the Scheme is to invest in companies whose securities are included in Nifty50 Value 20 Index in the same weightage that they represent in Nifty50 Value 20 Index in order to achieve the returns of the above index, subject to tracking errors. However, there is no assurance or guarantee that the investment objective of the scheme shall be achieved
Under normal circumstances, ICICI Pru Nifty50 Value 20 Index Fund will hold an allocation of 95% to 100% in Equity and Equity related securities of companies constituting the underlying index (Nifty50 Value 20 Index) and 0% to 5% in Money Market instruments including TREPs and Units of debt schemes.
As per the Scheme Information Document, ICICI Pru Nifty50 Value 20 Index Fund will be invested in stocks constituting the respective benchmark of the Scheme i.e. Nifty50 Value 20 Index and a very small portion (0-5% of the Net Assets) of the scheme may be kept liquid to meet the liquidity and expense requirements.
The performance of the Scheme may not commensurate with the performance of the respective benchmark of the Schemes on any given day or over any given period. Such variations are commonly referred to as the tracking error. The Scheme intends to maintain a low tracking error by actively managing the portfolio in line with the index
ICICI Pru Nifty50 Value 20 Index Fund’s performance will be benchmarked against Nifty50 Value 20 TRI
The scheme will be managed by Mr Nishit Patel, Ms Priya Shridhar and Mr Kewal Shah
The NFO opens for subscription on January 15, 2024 and closes on January 29, 2024. The schemes will reopen for continuous sale and repurchase within 5 business days from the date of allotment.
The minimum subscription amount is Rs 100/- and in multiples of Re.1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth option and Income Distribution cum capital withdrawal Option (IDCW).