This is an open-ended index fund which will replicate the Nasdaq 100 Index.
| Good to know What is an index fund? |
Investment objective
The scheme will track or replicate the Nasdaq 100 Index, providing exposure to 100 large non-finance global companies. With a market cap of $18 trillion, the index consists of global companies such as Apple, Amazon, Microsoft, Alphabet Inc, Facebook, Netflix, Tesla, Pepsico and Startbucks. The Nasdaq 100 index has grown 4 times over the last two decades with technology stocks holding 44% weightage.
This index has delivered 35% CAGR return over the last six years, beating the broader US markets as well as the Nifty50. At the same time, it has lower correlation with Indian equity indices, which means this fund will be helpful to investors for diversification.
Besides giving exposure to top global companies, the fund also acts as a hedge against rupee depreciation.
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Asset allocation
| Instrument | Allocation (% of total assets) | Risk profile | |
| Minimum | Maximum | ||
| Equity and equity related securities of companies constituting the underlying index (Nasdaq-100 Index) | 95 | 100 | High |
| Reverse repo, tri-party repo units of debt schemes/ETFs and cash | 0 | 5 | Low to medium |
Scheme details
| Name | ICICI Prudential Nasdaq 100 Index Fund |
| Type | An open ended index fund replicating the NASDAQ-100 Index |
| Category | Equity-Index fund |
| Benchmark | Nasdaq 100 Index |
| Entry/exit load | Entry: Nil Exit Load: Nil |
| Fund Manager | Priyanka Khandewal |
| Minimum application amount | ₹1,000 and in multiples of ₹1. |
| Expense ratio | Up to 1% |
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| This product is suitable for investors who are seeking*: | Riskometer |
| -Long term wealth creation -An index fund that seeks to track returns by investing in a basket of Nasdaq Index stocks and aims to achieve returns of the stated index, subject to tracking error |
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
Note: The above information has been sourced from the Scheme Information Document provided by ICICI Prudential Asset Management Company. To read the entire document, click here.
Disclaimer: The above article is purely academic in nature and aims to provide knowledge about basic trading concepts & should not be construed as an opinion or advice to invest or trade. RKSV Securities India Private Limited (brand name Upstox) is the distributor of the mutual fund. Mutual fund investments are subject to market risks; please read all the related documents and/or consult your investment advisor before investing. Past performance of an investment asset does not guarantee future returns.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.