ICICI Prudential Mutual Fund launches ICICI Prudential Nifty Bank Index Fund

NFO period: 10^th February – 24^th February, 2022

Highlights of the NFO:

• Scheme type – An open ended scheme replicating Nifty Bank Index


• Investment objective – The objective of the scheme is to invest in companies whose securities are included in Nifty Bank Index and subject to tracking errors, to endeavour 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. However, there is no assurance or guarantee that the investment objective of the scheme shall be achieved.


• Product suitability – The product is suitable for investors who are seeking long term wealth creation solution. An index fund that seeks to track returns by investing in a basket of Nifty Bank Index stocks and aims to achieve returns of the stated index, subject to tracking error.


• Minimum Application Amount – First investment is Rs. 5,000/- and in multiples of Rs. 1/- thereafter


• Plan/ Options available – Direct Plan and Regular Plan having Growth Option and Income Distribution cum capital withdrawal option (IDCW) (with Payout of Income Distribution cum capital withdrawal (IDCW Payout) sub-option and Reinvestment of Income Distribution cum capital withdrawal (IDCW Reinvestment) sub-options.


• Fund Managers – Mr. Kayzad Eghlim and Mr. Nishit Patel


• Benchmark – Nifty Bank TRI