ICICI Prudential Mutual Fund launches two passive funds
ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Nifty200 Value 30 ETF and ICICI Prudential Nifty200 Value 30 Index Fund.
ICICI Prudential Nifty200 Value 30 ETF is an open-ended Index Exchange-Traded Fund tracking the Nifty200 Value 30 Index. ICICI Prudential Nifty200 Value 30 Index Fund is an open-ended fund replicating the Nifty200 Value 30 Index.
Both offerings fall under the smart beta category, focusing on a factor-based strategy to provide investors with a low-cost, value-driven investment approach, according to the press release by the fund house.
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The new fund offer or NFO of both the schemes will open for subscription on September 30 and will close on October 14.
The minimum application amount during the NFO for ICICI Prudential Nifty200 Value 30 ETF and ICICI Prudential Nifty200 Value 30 Index Fund is Rs 100 (plus in multiples of Re 1).
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