Mutual Fund News : ICICI Prudential Mutual Fund launches ICICI Prudential Midcap 150 ETF

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ICICI Prudential Mutual Fund has launched ICICI Prudential Midcap 150 ETF. It is an open ended Exchange Traded Fund tracking Nifty Midcap 150 Index.

The investment objective of the scheme is to provide returns before expenses that closely correspond to the total return of the underlying index, subject to tracking errors.

The performance of the fund will be benchmarked against Nifty Midcap 150 TRI.

The fund will be managed by Mr. Kayzad Eghlim.

The NFO opens for subscription on January 15, 2020 and closes on January 20, 2020.

The New Fund Offer price is Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Rs 10 thereafter.