MF update: ICICI Prudential MF launches ICICI Prudential Alpha Low Vol 30 ETF FoF

ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Alpha Low Vol 30 ETF FoF (Fund of Funds). The NFO opens on September 1, 2021, and will close on September 15, 2021. This is an open-ended scheme investing in Nifty Alpha Low Volatility 30 Index, which consists of 30 stocks selected from Nifty 100 and Nifty Midcap 50. The offering aims to provide returns before expenses that closely correspond to the total return of the underlying index i.e. Nifty Alpha Low Volatility 30 TRI, subject to tracking errors.   

Investors can access the stocks of the companies across various sectors, based on the top alpha combination and low volatility by investing via this fund. The benchmark of the fund is Nifty Alpha Low Volatility 30 Index.   

Chintan Haria, Head-Product Development & Strategy, ICICI Prudential AMC said, “Multi-style factor-based funds, also known as smart beta strategy funds are gaining popularity among investors globally for the synergies of benefits it has to offer in terms of enhanced diversification, reduced volatility, alpha-generating opportunities, etc. ICICI Prudential Alpha Low Vol 30 ETF FOF provides investors, exposure to a combination of alpha generation opportunities with reduced volatility by investing in ICICI Prudential Alpha Low Vol 30 ETF. This multi-style factor exposure endeavours to provide growth with stability to its investors. Investors looking to create wealth over long-term via multi-style factor strategy may opt to invest in ICICI Prudential Alpha Low Vol 30 ETF FOF.”  

Performance of indices: