ICICI Prudential MF introduces Nifty IT Index Fund
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ICICI Prudential Mutual Fund (MF) has launched ICICI Prudential Nifty IT Index Fund, an open-ended Index scheme replicating Nifty IT Index. The NFO opens for subscription on July 28, 2022 and closes on August 8, 2022. The Entry load and Exit load is nil for the scheme. The minimum subscription amount is Rs 1,000 and in multiples of Rs 1 thereafter.
The performance of the Scheme would be benchmarked against Nifty IT 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 IT 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 IT Index in the same weightage that they represent in Nifty IT Index.
