Mutual Fund News : ICICI Prudential Mutual Fund Introduces ICICI Prudential Alpha Low Vol 30 ETF

Publish Date:

ICICI Prudential Mutual Fund has launched a new scheme - ICICI Prudential Alpha Low Vol 30 ETF, that will follow a multifactor smart beta strategy.

It is an open ended Index Exchange Traded Fund tracking Nifty Alpha Low-Volatility 30 Index.

Accordingly, the investment objective of the scheme is to provide returns that closely correspond to the returns provided by Nifty Alpha Low-Volatility 30 Index, subject to tracking error. However, there is no assurance or guarantee that the investment objectives of the Scheme would be achieved.

Under normal circumstances the scheme will invest at least 95% of its assets in securities of companies constituting the underlying index (Nifty Alpha Low-Volatility 30 Index). A very small portion (0% to 5% of its assets) may be kept in liquid to meet the liquidity requirement and expense requirements.

The multifactor smart beta strategy to be followed by the fund will address high sector concentration of single factor based index strategies through diversification of factor-risk exposures and exhibiting lower performance swings.

The scheme’s performance will be benchmarked against Nifty Alpha Low-Volatility 30 TRI (Total Return Index).

It will be managed by Mr Kayzad Eghlim.

The NFO opens for subscription on August 03, 2020 and closes on August 10, 2020.

The Units of the Scheme is proposed to be listed on BSE Limited and National Stock Exchange of India Limited.

Currently there are no plans/options under the scheme.