ICICI Prudential Mutual Fund is launching a new fund offer named ICICI Prudential Nifty Low Vol 30 ETF FOF, which will be open from 23rd March 2021 till 6th April 2021.
ICICI Prudential Nifty Low Vol 30 ETF FOF is a fund of fund that will invest in the units of ICICI Prudential Nifty Low Vol 30 ETF.
A fund of fund (FOF) invests in the units of other mutual funds rather than investing directly in stocks, bonds, or other securities.
Here’s what the underlying asset allocation of ICICI Prudential Nifty Low Vol 30 ETF FOF will look like:
(% of Corpus)
|Units of ICICI Prudential Nifty Low Vol 30 ETF||100%||95%||Medium to High|
|Reverse Repo, Tri-Party Repo*, Units of Debt Mutual Funds and ETFs||5%||0%||Low to Medium|
*or similar instruments as is permitted
The benchmark of the Scheme is Nifty 100 Low Volatility 30 TRI.
This mutual fund scheme will invest in ICICI Prudential Nifty Low Vol 30 ETF, its base fund. The base fund tracks the Nifty 100 Low Volatility 30 Index. Thus, the fund of fund’s (FoF) performance will be benchmarked against Nifty 100 Low Volatility 30 TRI.
NIFTY100 Low Volatility 30 index: The benchmark index tracks the performance of 30 stocks in NIFTY 100 with the lowest volatility in last year.
|Name of the Scheme||ICICI Prudential Nifty Low Vol 30 ETF FOF|
|Type of the Scheme||An open-ended fund of funds (FoF) scheme investing in ICICI Prudential Nifty Low Vol 30 ETF|
|NFO Dates||23rd March to 06th April 2021|
|Fund Managers||Mr. Kayzad Eghlim
Mr. Nishit Patel
|Minimum Application Amount, including switches||Rs. 1,000 and in multiples of Re 1 after that|
|Minimum additional application amount, including switches||Rs. 500/- and in multiples of Re. 1/-|
|Minimum amount for redemption||Any amount|
|Loads||Entry Load: Not Applicable.
NIL: If up to 10%fund’s performance of the units are redeemed or switched out within one year from the date of allotment of units on purchase
1%: If the units redeemed or switched out more than the 10% limit within one year
NIL: If units are redeemed or switched out after 1 year from the date of allotment
|Plans||Regular and Direct|
|Default Options||Default Option: Growth
Default sub-option: Dividend Re-investment
Mr. Kayzad Eghlim
Mr Eghlim has been working with the AMC since June 2008 and has work experience of over 30 years. He has worked with Canbank Mutual Fund, Prime Securities and IDFC Investment Advisors Ltd. in different capacities.
Other Schemes managed by him are :
Mr. Nishit Patel
Mr Patel has been working with ICICI Prudential Asset Management Company since November 2018.
Other Schemes managed :