ICICI Prudential Mutual Fund introduces ICICI Prudential Nifty Low Vol 30 ETF FOF
   Mar 23, 2021

ICICI Prudential Mutual Fund has launched ICICI Prudential Nifty Low Vol 30 ETF FOF.

It is an open-ended fund of funds scheme investing in ICICI Prudential Nifty Low Vol 30 ETF.

The primary investment objective of the Scheme is to generate returns by investing in units of ICICI Prudential Nifty Low Vol 30 ETF. However, there can be no assurance that the investment objective of the scheme will be achieved.

Under normal circumstances, ICICI Prudential Nifty Low Vol 30 ETF FOF will hold an allocation of 95% to 100% of its assets in Units of ICICI Prudential Nifty Low Vol 30 ETF, and 0% to 5% of its assets in Reverse Repo, Tri-Party Repo, Units of Debt Mutual Funds and ETFs.

As per the Scheme Information Document, ICICI Prudential Nifty Low Vol 30 ETF FOF would endeavor to provide investment returns linked to the underlying scheme. The Scheme intends to achieve its investment objective by investing in ICICI Prudential Nifty Low Vol 30 ETF and Reverse Repo, Tri-Party Repo, Units of Debt Mutual Funds and ETFs.

The AMC shall endeavor that the returns of the Scheme will replicate the returns generated by ICICI Prudential Nifty Low Vol 30 ETF and is not expected to deviate more than 2% on an annualized basis, net of recurring expenses in the Scheme.

The deviation of returns from the scheme benchmark return may be on account of the tracking error of underlying scheme and expense ratio.

ICICI Prudential Nifty Low Vol 30 ETF FOF’s performance will be benchmarked against Nifty 100 Low Volatility 30 TRI.

It will be managed by Mr Kayzad Eghlim and Mr Nishit Patel.

The NFO opens for subscription on March 23, 2021, and closes on April 06, 2021. The scheme will reopen for continuous Sale and Repurchase within 5 business days from the date of allotment.

The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 1,000 and in multiples of Re 1 thereafter.

The fund offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Dividend Re-investment and Dividend Pay-out facilities).

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