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NFO: Kotak Mutual Fund Launches Index Fund and ICICI Mutual Fund Extends NFO Period

Written by: Team Angel OneUpdated on: Apr 7, 2025, 2:05 PM IST
ICICI’s EV FOF extends its NFO window, while Kotak introduces a top 10 equal-weight fund for balanced large-cap exposure.
NFO: Kotak Mutual Fund Launches Index Fund and ICICI Mutual Fund Extends NFO Period
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EV-focused strategy and a fresh top 10 large-cap equal weight play enter the market with new details and timelines.

EV & New Age Auto ETF FOF Gets Extension

ICICI Prudential Mutual Fund has extended the NFO period for its Nifty EV & New Age Automotive ETF Fund of Funds by one day. Originally slated to close on April 10, 2025, the new closing date is now April 11, 2025. This extension gives investors a little more time to tap into the automotive sector via a passive strategy that mirrors the Nifty EV & New Age Automotive Index.

This fund aims to provide exposure to companies shaping the future of mobility, think electric vehicles, advanced auto tech, and mobility services. It’s a Fund of Fund (FOF), which means it invests in another ETF instead of buying the underlying stocks directly.

Kotak Nifty Top 10 Equal Weight Index Fund

Meanwhile, Kotak Mahindra Mutual Fund has launched the Kotak Nifty Top 10 Equal Weight Index Fund – Direct Plan. This open-ended equity scheme is for those looking to ride on India’s ten most influential large-cap stocks but with a twist.

Unlike traditional cap-weighted funds, this one follows an equal weight strategy, giving 10% weightage to each of the top 10 companies in the Nifty 50 Index, regardless of market cap. This helps avoid concentration in just a few large players and allows balanced exposure across the top 10.

  • NFO Period: April 7– April 21, 2025
  • Category: Equity – Large Cap
  • Minimum Investment: ₹100
  • Plans Available: Growth & IDCW
  • Exit Load: None
  • Riskometer: Very High
  • Benchmark: Nifty Top 10 Equal Weight TRI
  • Fund Manager: Devender Singhal
  • Registrar: Computer Age Management Services Ltd.

Conclusion

Both offerings cater to forward-looking investors; ICICI’s FOF leans into the EV revolution, while Kotak’s new fund brings an equal-weighted approach to large caps. With low entry points and strategies, these NFOs add interesting options to the April lineup for equity-focused investors.

 

 

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: Apr 7, 2025, 2:05 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.

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