NFO: ICICI Prudential MF launches Nifty Metal ETF; check dates, minimum investment, who should invest and other features

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.

2. Access to well-established companies experiencing renewed global interest.

3. A relatively low valuation compared to broader market indices, coupled with increasing demand and consumption.

4. A convenient entry with a minimum investment of just one unit.

ICICI Prudential Mutual Fund: Riskometer

The fund is classified under the 'very high risk' category.