ICICI Pru MF: Change in creation unit sizes

By Morningstar |  04-02-20 | 
 

ICICI Prudential Mutual Fund has announced the following change in creation unit sizes of the below mentioned schemes, with effect from 03 February 2020.

ICICI Prudential Midcap Select ETF:

  • Existing Creation of Unit Size: 50000 Units
  • Revised Creation of Unit Size: 25000 Units

ICICI Prudential Nifty ETF:

  • Existing Creation of Unit Size: 50000 Units
  • Revised Creation of Unit Size: 25000 Units

ICICI Prudential NV20 ETF:

  • Existing Creation of Unit Size: 25000 Units
  • Revised Creation of Unit Size: 12500 Units

ICICI Prudential Sensex ETF:

  • Existing Creation of Unit Size: 10000 Units
  • Revised Creation of Unit Size: 5000 Units

ICICI Prudential Private Banks ETF:

  • Existing Creation of Unit Size: 15000 Units
  • Revised Creation of Unit Size: 7500 Units

ICICI Prudential Bank ETF:

  • Existing Creation of Unit Size: 10000 Units
  • Revised Creation of Unit Size: 5000 Units

ICICI Prudential Nifty Next 50 ETF:

  • Existing Creation of Unit Size: 100000 Units
  • Revised Creation of Unit Size: 50000 Units

ICICI Prudential S&P BSE 500 ETF:

  • Existing Creation of Unit Size: 220000 Units
  • Revised Creation of Unit Size: 110000 Units
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Ravi Samalad
Feb 26 2020 01:22 AM
 Hi Prakash,

Fund houses deal with authorised participants, who are usually called market makers, or any other large financial institution, for maintaining and creating ETF shares. Authorised participants buy shares that the ETF wants to hold. For instance, if an ETF is designed to track the BSE 200 Index, the AP will buy shares in all the BSE 200 constituents in the exact same weights as the index, then deliver those shares to the fund house. In exchange, the fund house gives the authorised participant a block of equally valued ETF shares, which are called a creation unit. These unit are usually formed in blocks of 50,000 units.

Trust this anwers your query.

Regards
Ravi Samalad
Morningstar Editorial
Prakash Patel
Feb 23 2020 10:47 PM
 What does this revised creation of unit size mean?
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