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ICICI Prudential introduces Nifty50 Equal Weight Index Fund
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ICICI Prudential Mutual Fund (MF) has launched ICICI Prudential Nifty50 Equal Weight Index Fund, an open-ended Index scheme replicating Nifty50 Equal Weight Index. The NFO opens for subscription on September 14, 2022 and closes on September 28, 2022. The Entry load and Exit load is nil for the scheme. The minimum subscription amount is Rs 5000 (plus in multiple of Re 1).
The performance of the scheme will be benchmarked against Nifty50 Equal Weight 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 Nifty50 Equal Weight 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 Nifty50 Equal Weight Index in the same weightage that they represent in Nifty50 Equal Weight Index.
