NFO: ICICI Prudential Nifty Oil & Gas ETF to close on this date; check features and other details

ICICI Prudential Mutual Fund (ICICI Prudential MF) launched the ICICI Prudential Nifty Oil & Gas ETF on July 8, 2024. This fund, first in this sector by ICICI, aims to provide returns that correspond to the returns provided by the Nifty Oil & Gas Index, subject to tracking errors.

ICICI Prudential Nifty Oil & Gas ETF: Last date

The NFO will close on July 18, 2024.

ICICI Prudential Nifty Oil & Gas ETF: Minimum investment

The minimum application amount during the NFO is Rs. 100 (plus in multiple of Rs 1).

ICICI Prudential Nifty Oil & Gas ETF: Objective

The Nifty Oil & Gas Index features 15 companies from the oil, gas & petroleum Industry. These companies are chosen from the Nifty 500 based on their market value which is freely available for trading. The selection ensures that no single company has more than 33 per cent weight, and the top three companies together do not exceed 62 per cent of the index. This approach ensures a well-balanced and diversified exposure to the sector.

"ICICI Prudential Nifty Oil & Gas ETF is designed to provide investors with access to a sector that is pivotal to the economy and is currently undervalued. The oil and gas sector is the driving force of modern economic growth, and with growing demand and consumption, it presents a significant investment opportunity. Our ETF aims to allow investors to capitalise on the resurgence in global interest in this sector," said Chintan Haria, principal - investment strategy at ICICI Prudential AMC.

The scheme will be managed by Patel and Priya Sridhar shall, and the benchmark for the scheme will be Nifty Oil & Gas TRI.