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.
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.
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
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