ICICI Prudential MF introduces Nifty Bank Index Fund
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ICICI Prudential Mutual Fund (MF) has launched ICICI Prudential Nifty Bank Index Fund, an open-ended scheme replicating Nifty Bank Index. The NFO opens for subscription on February 10, 2022 and closes on February 24, 2022. The Entry load and Exit Load is nil for the scheme. The minimum subscription amount is Rs 5,000 (plus in multiple of Re 1).
The performance of the Scheme will be benchmarked with Nifty Bank 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 Bank 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 Bank Index in the same weightage that they represent in Nifty Bank Index.
