ICICI Prudential MF launches ICICI Prudential NASDAQ 100 Index Fund; check highlights, NFO open/close date and minimum investment amount

ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential NASDAQ 100 Index Fund, an open-ended index fund replicating the NASDAQ-100 index. ICICI Prudential Mutual Fund says that the scheme provides exposure to 100 largest globally leading non-financial companies and aims to track returns of the NASDAQ-100 Index, subject to tracking error.

The key highlights of ICICI Prudential NASDAQ 100 Index Fund are:-

- NFO opens September 27, 2021, and closes on October 11, 2021

 -The minimum investment required during NFO: Rs. 1000/-

- ICICI Prudential NASDAQ 100 Index Fund is an open-ended index fund 

- ICICI Prudential NASDAQ 100 Index Fund replicates the NASDAQ-100 Index providing exposure to 100 largest globally leading non-financial companies

- ICICI Pru MF says the fund is suitable for investors seeking global equity market exposure and a potential hedge against rupee depreciation vs Dollar

Speaking on the launch of the product, Chintan Haria, Head- Product Development & Strategy, ICICI Prudential AMC said, “ICICI Prudential NASDAQ 100 Index Fund is the first global based offering in our passive universe. It is an open ended index fund that aims to track the NASDAQ-100 index and replicate the performance of its constituents. Nasdaq-100 Index mainly includes innovation led technology and communications services companies; many of which are part of our day to day lives like Apple, Microsoft,
Facebook, Alphabet, Facebook, Netflix, Starbucks. This offering is suitable for investors looking for geographical diversification in their equity allocation in Index Funds.”

" Markets around the globe perform differently each year, thus diversification to international markets may enable investors to earn better returns. There is several advantage of investing in US markets. Not only it is a developed country with mature markets and highest share in global equity markets (59%), US is also a market which provides investors with an opportunity to invest into themes such as cloud computing, ecommerce, artificial intelligence etc. which is not much available in the domestic markets," a company statement said. (Data Source: BofA Global Research Report.) 

(The above news/data is for reference only and not buy or sell ideas.)

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