NFO Launch: ICICI Prudential Nifty Bank Index Fund Launched Today, Check Details

The ICICI Prudential Nifty Bank Index Fund, an open-ended index fund that replicates the Nifty Bank Index, has been launched by ICICI Prudential Mutual Fund. The NFO opened on February 10, 2022, and will close on February 24, 2022. The fund managers are Kayzad Eghlim and Nishit Pate. It is Long term wealth creation solution.

The scheme's goal is to invest in firms whose securities are included in the Nifty Bank Index and, subject to tracking errors, to attempt to match the benchmark index's performance. This would be accomplished by investing in all of the stocks that comprise the Nifty Bank Index at the same weightage as they do in the Nifty Bank Index. The plan gives exposure to the 12 most liquid and well-capitalized banking equities.