ICICI Prudential MF adds Nifty PSU Bank ETF to its passive fund offerings

Henil Shah
ICICI Prudential MF adds Nifty PSU Bank ETF to its passive fund offerings

ICICI Prudential Mutual Fund launches ICICI Prudential Nifty PSU Bank ETF via NFO. Continue reading to learn more.

ICICI Prudential Nifty PSU Bank ETF, an open-ended exchange traded fund that tracks the Nifty PSU Bank Index, has been launched by ICICI Prudential Mutual Fund. The performance of the index's 12 PSU bank businesses will be reflected in the ETF. The subscription period for the New Fund Offer (NFO) begins on March 13, 2023 and ends on March 15, 2023. 


Speaking on the launch of the product, Mr Chintan Haria, Head – Investment Strategy, ICICI Prudential AMC commented, “Over the past decade, PSU banks have undergone a transformation on account of their improving efficiency, customer centric approach, technological superiority and improving risk management frameworks. As a result, since 2018, net NPAs have fallen by over 65 per cent while capital adequacy ratio has risen by almost 15 per cent. This improvement is reflected in equity market as well, with the Nifty PSU Bank TRI delivering better returns than both Nifty 50 TRI and Nifty Bank TRI over the last few years.” 


Top 10 Constituents 


Company’s Name 

Weight (%) 

State Bank of India 


Bank of Baroda 


Canara Bank 


Punjab National Bank 


Union Bank of India 


Indian Bank 


Bank of India 


Indian Overseas Bank 


Central Bank of India 


UCO Bank 


As on February 28, 2023 


While the banking industry as a whole saw significant improvements in 2022, the public sector banks took the lead in the uptick. However, before investing it is advisable to assess one’s risk appetite and financial goals. 

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1 comments on article "ICICI Prudential MF adds Nifty PSU Bank ETF to its passive fund offerings"

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