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ICICI Prudential Midcap 150 ETF Floats On
14-Jan-20   12:08 Hrs IST

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Midcap 150 ETF, an open ended Index Exchange Traded Fund tracking Nifty Midcap 150 Index. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 15 January 2020 to 20 January 2020.

The investment objective of the scheme is to provide returns before expenses that closely correspond to the total return of the underlying index subject to tracking errors.

Currently, there are no plans/ options under the scheme.

The scheme will invest 100% - 95% of its assets in Equity & Equity related securities of companies constituting the underlying index (Nifty Midcap 150 Index) with Medium to high risk profile, invest upto 5% of assets in Units of debt schemes, TREPS, Repo and Reverse Repo, cash & cash equivalents with Low to Medium risk profile and invest upto 5% of assets in Units of debt ETFs with Low to Medium risk profile.

The minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter.

The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period.

Entry Load: Not Applicable

Exit Load: Nil

Benchmark Index for the scheme is Nifty Midcap 150 Index.

The fund manager of the scheme is Kayzad Eghlim.

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