Moneycontrol
Last Updated : Jun 15, 2018 01:14 PM IST | Source: Moneycontrol.com

ICICI Prudential Mutual Fund seeks SEBI nod for Nifty Next 50 ETF

The open-ended scheme tracking NIFTY Next 50 Index will invest 95 percent of its assets in equity and equity-related securities of companies constituting the underlying index (NIFTY Next 50 Index)

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ICICI Prudential Mutual Fund has sought approval from Securities and Exchange Board of India to launch ICICI Prudential Nifty Next 50 ETF. The open-ended scheme tracking NIFTY Next 50 Index will invest 95 percent of its assets in equity and equity-related securities of companies constituting the underlying index (NIFTY Next 50 Index).

The scheme also has the provision to invest up to 5 percent of its assets units of liquid schemes, money market instruments (with maturity not exceeding 91 days), including CBLO, cash & cash equivalents.

Other features:
Minimum application: Rs 5,000 and in multiples of one rupee thereafter
Performance benchmark: NIFTY Next 50 IndexFund manager: Kayzad Eghlim
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First Published on Jun 15, 2018 01:14 pm
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