BSE See NSE See 60,821.62
-101.88 (-0.17%)

ICICI Prudential MF launches ICICI Prudential NASDAQ 100 Index Fund

Shashikant Singh
/ Categories: Trending, Mutual Fund, MF NFO
Rate this article:
ICICI Prudential MF launches ICICI Prudential NASDAQ 100 Index Fund

ICICI Prudential MF, one of the largest fund houses in India with a quarterly average AUM of Rs 4.16 lakh crore at the end of June 2021 has extended its product offering and is launching ICICI Prudential NASDAQ 100 Index Fund. It is an open-ended index fund that replicates the NASDAQ-100 Index® providing exposure to 100 largest globally leading non-financial companies and aims to track returns of the NASDAQ-100 Index®, subject to tracking error. NFO opens for subscription on September 27, 2021, and closes on October 11, 2021. The minimum investment required during NFO is Rs 1000. 

The Nasdaq-100 Index® is one of the world’s preeminent large-cap growth indexes and is home to some of the most innovative companies globally. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail as well as wholesale trade and biotechnology. The index composition is reviewed on an annual basis in December of every year. In terms of weightage; the index is largely skewed towards technology stocks and currently, 44 per cent of the index is from technology companies. 

NASDAQ-100 Index® has a relatively lower correlation with Indian equity indices and thus diversification to international markets may enable investors to earn better returns. It can also be a potential hedge against the rupee depreciation against the dollar. 

Previous Article Five stocks witnessing short covering
Next Article Ten stocks close to their 52-week high
Please login or register to post comments.

Get A Call From Industry Experts

Send Otp

   I authorize DSIJ Pvt Ltd to contact me. This will override registry on the NDNC.