ICICI Prudential MF introduces Nifty Auto Index Fund
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ICICI Prudential Mutual Fund (MF) has launched ICICI Prudential Nifty Auto Index Fund, an open-ended index scheme replicating Nifty Auto Index. The NFO opens for subscription on September 22, 2022 and closes on October 06, 2022. The Entry load and Exit load is nil for the scheme. The minimum subscription amount is Rs 1000 (plus in multiple of Re 1).
The performance of the scheme would be benchmarked against Nifty Auto TRI and its fund managers are Kayzad Eghlim and Nishit Patel.
The investment objective of the Scheme is to invest in companies whose securities are included in Nifty Auto Index and subject to tracking errors, to endeavor to achieve the returns of the above index. This would be done by investing in all the stocks comprising the Nifty Auto Index in the same weightage that they represent in Nifty Auto Index.
