ICICI Prudential Mutual Fund Introduces ICICI Prudential Healthcare ETF
   May 06, 2021

ICICI Prudential Mutual Fund has launched a new scheme - ICICI Prudential Healthcare ETF.

It is an open ended Exchange Traded Fund that will track the NIFTY Healthcare Index.

Accordingly, the investment objective of the scheme is to provide returns before expenses that closely correspond to the total return of the underlying index subject to tracking errors.

However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Under normal circumstances the scheme will invest 95% to 100% of its assets in Equity and Equity related securities of companies constituting the underlying index (Nifty Healthcare Index). A very small portion (0% to 5% of its assets) may be kept in Money market instruments including TREPs, Units of debt schemes and Debt ETFs.

Accordingly, ICICI Prudential Healthcare ETF would invest predominanlty in stocks comprising the underlying NIFTY Healthcare Index and shall endeavor to track the benchmark index. The Scheme may also invest in debt and money market instruments, in compliance with Regulations to meet liquidity and expense requirements.

As per the scheme information document, The corpus of the Scheme will be invested predominantly in stocks constituting the underlying index in the same proportion as in the Index and endeavor to track the benchmark index. A very small portion (0-5% of the Net Assets) of the fund may be kept liquid to meet the liquidity and expense requirements. The fund may also use various derivatives and hedging instruments from time to time, as would be available and permitted by SEBI, in an attempt to protect the value of the portfolio and enhance Unitholders’ interest.

ICICI Prudential Healthcare ETF’s performance will be benchmarked against NIFTY Healthcare - TRI (Total Return Index).

ICICI Prudential Healthcare ETF will be managed by Mr Kayzad Eghlim and Mr Nishit Patel.

The NFO opens for subscription on May 06, 2021, and closes on May 14, 2021. The scheme will reopen for continuous sale and repurchase within five Business Days from the date of allotment.

The minimum subscription amount is Rs 1,000 and in multiples of Re 1 thereafter.

The units of the Scheme are proposed to be listed on the BSE and NSE within 5 Business Days from the date of allotment. Units of the Scheme may also be listed on such other stock exchange(s) as may be decided from time to time. The trading will be as per the normal settlement cycle.

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