ICICI Prudential MF launches ICICI Prudential Consumption ETF
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Highlights:
* An open-ended Index Exchange Traded Fund tracking Nifty India Consumption Index
* Seeks to provide exposure to a diversified portfolio of companies representing domestic consumption sectors such as Consumer Non-durables, Healthcare, Auto, Hotels etc.
* Minimum investment required during NFO: Rs. 1,000 (plus in multiple of Re. 1/-)
Mumbai, October 19, 2021: ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Consumption ETF, an open-ended Index Exchange Traded Fund tracking Nifty India Consumption Index. The offering aims to provide returns that closely correspond to the total return of the underlying index, subject to tracking errors.
Given that India is a relatively young country with a large millennial population, with workforce addition in millions each year, combined with increasing disposable income and growing trends of luxury spending, consumption sector has a massive potential to grow. Following are some of the reasons we believe an investor may consider investing in consumption sector.
Speaking on the launch of the product, Mr. Chintan Haria, Head- Product Development & Strategy, ICICI Prudential AMC said, “ICICI Prudential Consumption ETF is the newest addition to our sector/thematic ETF
product bouquet. Through this offering an investor gets exposure to 30 large and mid-cap companies that are engaged in goods and services used on a daily basis catering to all age groups. With India being one of the fastest growing economies, there is huge potential for growth across household and industrial consumption segments. An investor can consider this offering as a part of their equity allocation.”
About the Index
Nifty India Consumption Index is a diversified portfolio of companies representing the domestic consumption sector which includes sectors like Consumer Non-durables, Healthcare, Auto, Telecom Services, Pharmaceuticals, Hotels, Media & Entertainment, etc. Apart from being from the consumption sector, companies which are a part of the index derive more than 50% of its revenue from domestic markets (other than export income). The index is rebalanced semi-annually. In terms of return potential, Nifty India Consumption TRI has outperformed Nifty 50 TRI 4 out of 8 times till 2020.
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