NFO: ICICI Prudential MF launches Nifty Metal ETF; check dates, minimum investment, who should invest and other features
The index comprises up to 15 stocks selected from the Nifty 500, chosen for their market value to ensure broad representation within the sector.
Today, August 1, ICICI Prudential Mutual Fund has rolled out a new fund offering (NFO) called ICICI Prudential Nifty Metal ETF.
Key things to know about the ICICI Prudential Nifty Metal ETF
Here are key things to know about the ICICI Prudential Nifty Metal ETF:
The minimum application amount during the NFO is Rs. 1000(plus in multiple of Re. 1).
Nifty Metal ETF
The index comprises up to 15 stocks selected from the Nifty 500, chosen for their market value to ensure broad representation within the sector.
Key companies
Key companies include Tata Steel, Hindalco Industries, and JSW Steel, ICICI Prudential Mutual Fund said.
ICICI Prudential Mutual Fund: Dates
The fund started on August 1 and will end on August 12, 2024.
Who are the fund managers?
The fund managers of the new fund are Nishit Patel and Priya Sridhar.
What is the aim of launching this NFO?
This NFO attempts to generate returns before expenditures comparable to those given by the Nifty Metal Index, subject to tracking mistakes. The Nifty Metal Index comprises firms in the metal industry, which covers both ferrous and nonferrous metals.
Why invest in ICICI Prudential Nifty Metal ETF?
The Nifty Metal TRI has outperformed the Nifty 500 TRI five times in the last decade, demonstrating its potential for delivering good returns. Investing in the ICICI Prudential Nifty Metal ETF provides a few things.
Reasons to invest
1. Exposure to a key sector essential for economic growth.
ICICI Prudential Mutual Fund: Riskometer
The fund is classified under the 'very high risk' category.