ICICI Prudential Mutual Fund launches ICICI Prudential Nifty Pharma Index Fund

by News Team | Mutual Fund

NFO period: 25th November – 09th December, 2022

Highlights of the NFO:

  • Scheme type – An open ended Index scheme replicating Nifty Pharma Index

  • Investment objective – The objective of the scheme is to invest in companies whose securities are included in Nifty Pharma Index and subject to tracking errors, to endeavor to achieve the returns of the above index. This would be done by investing in all the stocks comprising the Nifty Pharma Index in the same weightage that they represent in Nifty Pharma Index. However, there is no assurance or guarantee that the investment objective of the scheme shall be achieved.

  • Product suitability – This product is suitable for investors who are seeking long term wealth creation solution. An index fund that seeks to track returns by investing in a basket of Nifty Pharma Index stocks and aims to achieve returns of the stated index, subject to tracking error.

  • Minimum Application Amount – First investment is Rs. 1,000/- and in multiples of Rs. 1/- thereafter

  • Plan/ Options available – Regular Plan and Direct Plan. Each plan under the scheme offers Growth and Income Distribution cum Capital Withdrawal (IDCW) (Payout and Re-investment Facility).

  • Fund Managers – Mr. Kayzad Eghlim and Mr. Nishit Patel

  • Benchmark – Nifty Pharma TRI

(Mutual Fund investments are subject to market risks, read all scheme related documents carefully.)