CALCULATE YOUR SIP RETURNS

NFO Alert: ICICI Prudential Mutual Fund Launches Nifty EV & New Age Automotive ETF FoF

Written by: Team Angel OneUpdated on: Mar 28, 2025, 1:30 PM IST
ICICI Prudential Mutual Fund launches an NFO focused on electric vehicles and automotive tech, offering passive exposure through its Nifty EV & New Age Automotive ETF FoF.
NFO Alert: ICICI Prudential Mutual Fund Launches Nifty EV & New Age Automotive ETF FoF
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

ICICI Prudential Mutual Fund has announced a New Fund Offer (NFO) under its ETF category – ICICI Prudential Nifty EV & New Age Automotive ETF FoF. This is an open-ended fund-of-fund (FoF) scheme that will invest in units of the ICICI Prudential Nifty EV & New Age Automotive ETF.

Fund Details

  • Fund Name: ICICI Prudential Nifty EV & New Age Automotive ETF FoF
  • Category: Equity – Thematic
  • Type: Open-ended
  • Benchmark: Nifty EV & New Age Automotive TRI
  • Riskometer: Very High
  • Fund Managers: Nishit Patel and Ashwini Shinde
  • Registrar & Transfer Agent: CAMS

NFO Timeline and Investment Amount

  • Issue Opens: March 28, 2025
  • Issue Closes: April 10, 2025
  • Reopens: Within five business days from the date of allotment
  • Minimum Investment: ₹1,000 and in multiples of any amount thereafter
  • Plans Offered: Growth and IDCW
  • Exit Load: Nil
  • Lock-in Period: Not applicable

Objective and Strategy

The scheme aims to generate returns that correspond to the total returns of the underlying index – Nifty EV & New Age Automotive TRI, subject to tracking error. The corpus will be invested in the ETF, which replicates the stocks of the benchmark index in the same proportion.

The fund will predominantly invest in equity and equity-related instruments of companies included in the Nifty EV & New Age Automotive TRI, covering sectors like electric mobility, new-age automotive technologies, and related industries.

Systematic investment solutions like SIP and SWP are available to enable regular investments or withdrawals based on investor preferences.

Conclusion

The NFO offers access to a specific segment of the market – electric vehicles and evolving automotive technologies through a passive investment structure.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Mar 28, 2025, 1:30 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

Know More

We're Live on WhatsApp! Join our channel for market insights & updates

Grow Wealth, Start SIP Now!

Join our 3 Cr+ happy customers

+91
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy ₹0 Account Opening Charges

Get the link to download the App

Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Join our 3 Cr+ happy customers