NFO: ICICI Prudential FMCG ETF

By Morningstar |  21-07-21 | 
 

ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Fast Moving Consumer Goods (FMCG) ETF. The New Fund Offer (NFO) opens on July 20, 2021, and closes on August 02, 2021. The minimum investment during NFO is Rs 1,000.

The offering aims to provide returns that closely correspond to the returns provided by its benchmark Nifty FMCG TRI Index in the same proportions, subject to tracking errors. The fund will be listed on BSE and NSE. ICICI Prudential FMCG ETF provides investors with a choice to take exposure to multiple facets of the FMCG sector through this product.

The NIFTY FMCG Index is designed to reflect the behaviour and performance of FMCGs which are non-durable, mass consumption products and available off the shelf. The NIFTY FMCG Index comprises 15 stocks from the FMCG sector listed on the National Stock Exchange (NSE). This index has outperformed Nifty 50 index in 8 out of the last 11 calendar years.  (As of June 30, 2021).

FMCG is the fourth largest sector in the Indian Economy. India's FMCG market was valued at $110 billion in 2020.

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