MUTUAL FUNDS
ICICI Prudential Mutual Fund files offer document for Nifty Private Bank Index Fund
Mar-28-2025

ICICI Prudential Mutual Fund has filed offer document with SEBI to launch an open-ended index scheme named ‘ICICI Prudential Nifty Private Bank Index Fund'. The New Fund Offer price for units would be Rs 10 during the NFO period. Entry load and Exit load will be nil. The Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option for investment and seeks to collect a Minimum Target Amount of Rs 5 crore.

The performance of the scheme will be benchmarked against Nifty Private BankTRI. The minimum application amount is Rs 1000 and in multiples of Re 1 thereafter.

The investment objective of the scheme is to invest in companies whose securities are included in Nifty Private Bank Index, subject to tracking errors, to endeavour to achieve the returns of the index.  This would be done by investing in all the stocks comprising the Nifty Private Bank Index in the same weightage that they represent in Nifty Private Bank Index.


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