Magic of compounding: If you invested ₹1 lakh in this mutual fund, it would have grown to ₹26 lakh in 21 years
ICICI Prudential S&P BSE Sensex ETF - has now completed 21 years of its inception. This index fund ETF has delivered an annualised return of 16.9 percent in the past two decades. In other words, a lump sum investment of ₹1 lakh at the time of inception (January 10, 2003), as of December 31, 2023, would be approximately worth Rs.
26.4 lakhs. ALSO READ: ICICI Prudential Mutual Fund launches ICICI Prudential Nifty50 Value 20 Index Fund; all you need to know During this time, the benchmark index S&P BSE SENSEX TRI has delivered a CAGR of 17.4 percent. This scheme with an AUM of ₹3,635 crore (as on Dec 31, 2023) has a tracking error of 0.04 percent (1-year) and an expense ratio of 0.03 per cent.
For the unversed, tracking error represents how closely the scheme has been successful in replicating its underlying index. Lower tracking error can help make the investment a balanced one. The fund is managed by Kayzad Eghlim and Nishit Patel.
Speaking on the completion of 21 years, Chintan Haria, Principal, Investment Strategy, ICICI Prudential AMC says, “The journey of ICICI Prudential Sensex ETF is a story of the growth of the Indian equity market over the past two decades. We are pleased that investors who remained invested had a pleasant investment experience." Today, with 29 ETF schemes catering to the various investment needs of an investor. Across various product categories, several of the ICICI Prudential ETF offerings have a relatively lower tracking error and expense ratios.
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