February 13, 2022
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ICICI Mutual Fund launches
ICICI Prudential Nifty Bank Index Fund
ICICI Mutual Fund has launched ICICI Prudential Nifty Bank Index Fund.
NFO opens on February 11 ,2022
NFO will close on February 24,2022
(Our Guidance & Invest Online button are given at the bottom of the Page)
Investment Strategy
The scheme seeks to invest in companies whose securities are included in Nifty Bank Index and subject to tracking errors, to endeavor to achieve the returns of the above index. This would be done by investing in all the stocks comprising the Nifty Bank Index in the same weightage that they represent in Nifty Bank Index.
Basic Details
Fund House: ICICI Prudential Mutual Fund
Issue Open: 10-Feb-2022
Issue Close: 24-Feb-2022
Category: Equity: Sectoral-Banking
Type: Open-ended
Min. Investment Rs 5,000
Plans: Growth, IDCW
Lock-in Period Not Applicable
Exit Load (%): 0
Riskometer: Very High
Benchmark: NIFTY Bank TRI
Fund Manager
Kayzad Eghlim
Education: Mr. Eghlim is a B.Com (H) and M Com.
Experience: Prior to joining ICICI Prudential AMC he has worked with IDFC Investment Advisors Ltd., Prime Securities and Canara Robeco Mutual Fund.
AMC:
ICICI Prudential Asset Management Company Ltd
Address: One BKC , A Wing , 13th Floor, Bandra Kurla Complex, Mumbai – 400051
Website: http://www.icicipruamc.com
Registrar & Transfer Agent:
Computer Age Management Services Ltd.
Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai – 600002
Phone: 1800-3010-6767 / 1800-419-7676
Fax: 044-30407101
Email: enq_h@camsonline.com
Website: www.camsonline.com
Chanakya’s Mutual Fund Guidance :
The Benchmark for the scheme would be Nifty Bank TRI. The NIFTY Bank Index
comprises the 12 most liquid and large Indian Banking stocks.
Investment in Nifty Bank index is possible through an INDEX FUND.
Diversification : A bank Index Fund can provide diversification across various bank stocks.
Affordable : Access to an index fund can be available at an investment amount of INR
5,000, & through SIPs .
Low Cost : Index fund investment is available at a relatively lower cost mainly due to fund
manager intervention being limited to aligning the portfolio with the underlying index.
Nifty Bank Index Constituents as of January 27, 2022:
Securities (Index Weights)
HDFC BANK LTD. (25.8932)
ICICI BANK LTD. (22.6882)
STATE BANK OF INDIA (12.2871)
AXIS BANK LTD. (12.2741)
KOTAK MAHINDRA BANK LTD. (11.4036)
INDUSIND BANK LTD. (5.5210)
AU SMALL FINANCE BANK LTD. (2.6772)
BANDHAN BANK LTD. (2.0837)
FEDERAL BANK LTD. (1.9108)
IDFC FIRST BANK LTD. (1.3641)
PUNJAB NATIONAL BANK (1.1689)
RBL BANK LTD. (0.7281)
Past Performance of Benchmark Index:
Before Investing in the NFO, lets study the past Performance trend of its Benchmark index : Nifty Bank Index.
NIFTY Bank Index, before 5 year eg on 23rd February 2017 was at 23877 and has appreciated to 38517 now on 11th February 2022. It has appreciated by 61% during the period of 5years. Compared to Nifty 100 Index, this Nifty bank index has given less returns due to huge NPAs suffered by banking companies during last 4 years. However now with reasonably clean balancesheets , the banking companies will not be required to make large provisions for NPAs and consequently, the profitability is expected to improve in the coming years. Now during next 4 years, We expect higher growth rate for Nifty Bank index,as compared to Nifty 100 index and expect this new scheme to provide impressive returns. … We recommend >>APPLY
Mutual fund investments are subject to market risks, read all scheme related documents carefully.