The new fund offer or NFO of the scheme is open for subscription and it will close on January 29.
The scheme will invest in the securities included in the Nifty50 Value 20 Index (underlying index) which consists of the top 20 most liquid value blue chip companies listed on the NSE forming part of Nifty 50. The 20 constituents in the portfolio will be from the Nifty 50 Index.
The investment objective of the scheme is to provide returns that closely correspond to the returns of its benchmark Nifty50 Value 20 Index, subject to tracking error.
The scheme will be managed by Nishit Patel, Priya Shridhar, and Kewal Shah.
The scheme will allocate 95-100% in equity and equity related securities of companies constituting the underlying index (Nifty50 Value 20 Index) and 0-5% in money market instruments including TREPs and units of debt schemes.The minimum application amount for daily, weekly, fortnightly, monthly SIP is Rs 100 (plus in multiple of Re 1) with minimum six instalments.“In elevated market conditions, value investing as a style tends to do well. By investing in ICICI Prudential Nifty50 Value 20 Index Fund an investor can get access to value companies from the Nifty 50 universe. Over a full market cycle the value strategy aims to deliver diversification, downside resilience and has the potential to outperform broader market indices,” said Chintan Haria, Principal- Investment Strategy, ICICI Prudential AMC.
The scheme is suitable for investors who are seeking long-term wealth creation and want an index fund that seeks to track returns by investing in a basket of Nifty 50 Value 20 Index stocks, subject to tracking error.
The principal invested in the scheme will be at “very high” risk according to the riskometer of the scheme.
