ICICI Prudential Mutual Fund launches ICICI Prudential S&P BSE 500 ETF FoF

ICICI Prudential S&P BSE 500 ETF FoF is an open-ended scheme that will provide investors with an opportunity to look at broader asset allocation in their portfolios across market caps. This scheme will be investing in ICICI Prudential S&P BSE 500 ETF. The benchmark of the underlying ETF of the scheme is S&P BSE 500 index which comprises 500 stocks representing major Indian sectors. 

The NFO opened on November 12, 2021, and will be closing on November 26, 2021. The objective of the scheme is to closely resemble the total return of the underlying ETF, which will be subject to tracking errors. 

Following table depicts the performance of Indices (%): Calendar Year Returns 

On the launch of the scheme, Chintan Haria, Head - Product Development and Strategy, ICICI Prudential AMC said, “ICICI Prudential S&P BSE 500 ETF FOF provides investors exposure to a vast universe of stocks under BSE 500 that captures more than 90 per cent of the market cap of companies listed on a stock exchange. This product is suitable for investors aiming to capitalize on the wealth creation opportunities for future goals by diversifying investments with a long-term view”.