ICICI Prudential plans entry into sectoral and small-cap spaces with 3 ETFs

ICICI Prudential Mutual Fund has filed draft papers with SEBI to launch three new open-ended index Exchange Traded Funds (ETFs). The new filings cover two specific sectors, healthcare and power, along with a broad-market bet on small-cap companies.

• ICICI Prudential Nifty Pharma ETF

• ICICI Prudential BSE Power ETF

• ICICI Prudential Nifty Smallcap 250 ETF

ICICI Prudential Nifty Pharma ETF

• The New Fund Offer price will be the sale of units at 1/1000th value of the Nifty Pharma closing Index as on the date of allotment during the NFO.

• Entry load and Exit load will be nil.

• The Scheme does not offer any Plans/Options for investment and seeks to collect a Minimum Target Amount of ₹5 crore.

• The performance will be benchmarked against Nifty Pharma TRI. The minimum application amount during NFO will be ₹1000 and in multiples of Re 1 thereafter.

• The investment objective of the scheme is to provide returns before expenses that closely correspond to the total return of the underlying index.

ICICI Prudential BSE Power ETF

• The New Fund Offer price will be Sale of Units at 1/100th value of the BSE Power closing Index as on the date of allotment for applications received during the NFO.

• Entry load and Exit load will be nil.

• The Scheme does not offer any Plans/Options for investment and seeks to collect a Minimum Target Amount of ₹5 crore.

• The performance will be benchmarked against BSE Power TRI. The minimum application amount during NFO will be ₹1000 and in multiples of Re 1 thereafter.

• The investment objective of the scheme is to provide returns before expenses that closely correspond to the total return of the underlying index.

ICICI Prudential Nifty Smallcap 250 ETF

• The New Fund Offer price will be Sale of Units at 1/1000th value of the Nifty Smallcap 250 closing Index as on the date of allotment for applications received during the NFO. Entry load and Exit load will be nil.

• The Scheme does not offer any Plans/Options for investment and seeks to collect a Minimum Target Amount of ₹5 crore.

• The performance will be benchmarked against Nifty Smallcap 250 TRI.

• The minimum application amount during NFO will be ₹1000 and in multiples of Re 1 thereafter.

• The investment objective of the scheme is to provide returns before expenses that closely correspond to the total return of the underlying index.

Each fund is aiming for a minimum subscription target of ₹5 crore during its respective NFO period.