ICICI Prudential Mutual Fund has launched a new fund as ICICI Prudential CNX 100 ETF, an open ended index exchange traded fund. 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.
Units issued under ICICI Prudential CNX 100 ETF qualify to be eligible security under Rajiv Gandhi Equity Savings Scheme, 2012. The New Fund Offer (NFO) is open for subscription from 19 July 2013, and will close on 16 August 2013. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. Entry load and exit load charge are not applicable for the scheme. The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter. The scheme will allocate 95% to 100% of assets in securities of companies constituting CNX 100 Index (the underlying index) with medium to high risk profile. On the flipside it would allocate upto 5% of assets in money market instruments having residual maturity The scheme’s performance will be benchmarked against CNX 100 Index. The scheme will be managed by Kayzad EghlimDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
