NFO: ICICI Pru Nifty Low Vol 30 ETF FOF

By Morningstar |  16-03-21 | 
 

ICICI Prudential Mutual Fund has launched ICICI Prudential Nifty Low Vol 30 ETF fund of fund.

The New Fund Offer (NFO) opens on March 23, 2021 and closes on April 6, 2021. The offering aims to provide returns that closely correspond to the returns provided by its benchmark Nifty 100 Low- Volatility 30 Index, subject to tracking errors.

By tracking the least volatile stocks in the Nifty 100 Index, the scheme offers wealth creation opportunities with a lower level of volatility. Historically, The Nifty 100 Low Volatility 30 Index has provided returns in the range of 12-16% CAGR* over last 5 years. (Data as on February 28, 2021).

ICICI Prudential Nifty Low Vol 30 ETF FOF invests in ICICI Prudential Nifty Low Vol 30 ETF that replicates the Nifty 100 Low Volatility 30 Index in the same proportions. The Nifty 100 Low Volatility 30 Index consists of 30 stocks with the least volatility selected from the Nifty 100 index. The weights of the stocks are based on volatility which is measured as standard deviation of stock returns over a one year period. The individual stock weight is capped at 3%. The top three sectors for the index comprises of software, personal care and cement. The index is rebalanced on a quarterly basis.

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