We all know that financial services sector is one of the primary drivers of India’s economy.
It has been advancing
with innovative technologies and regulatory revolution. And knowingly or unknowingly we have
all been contributing to the growth of this sector.
But now it’s time to not just contribute but also aim to benefit from this sector!
Introducing ICICI Prudential Nifty Financial Services
Ex-Bank ETF, an open-ended Exchange
Traded Fund
tracking Nifty Financial Services Ex-Bank Index.
There are many types of Financial services excluding bank, which include; Non-Banking Financial
Companies (Asset Finance, Investment, and Loan organisations), Insurance Companies
and other services
like mutual funds, brokerages etc.
Want to explore more about this scheme? Let’s begin!
• The scheme tracks the Nifty Financial Services Ex- Bank Index. And invests in the stocks of Financial Services sector except banks.
• The corpus will be allocated to the stocks of largest 30 stocks from the financial Service Sector (Excluding Banks) which form part of Nifty 500 Index universe and the index is rebalanced on a semi-annual basis.
It is evident that there is a shift of workforce from the agricultural industry to the service industry. This shift is adding to the nation’s wealth with increasing savings and investments.
Most people in India are now equipped with internet and other digital services. This comes from the fact that there is an availability of cheap cellular data and a huge capital has been spent on infrastructure. This has enabled Credit, Insurance and Investment penetration in rural India.
Factors like FDI policy relaxation, Tax exemptions, etc. are encouraging the industry to spend on expanding its presence and services.
Nifty Financial Services Ex- Bank Indexcan be considered less risky than Nifty Bank Index across all time frames.
If you’re interested to seek an opportunity in the growing venture of the financial services sector with an aim to grow long term wealth, this scheme can be good for you!
| Scheme Name | ICICI Prudential Nifty Financial Services Ex-Bank ETF |
| NFO Period | 16th November - 25th November 2022 Application & RTGS/ Transfer Cheques will be accepted till 1 PM on 25th November 2022. |
| Plans/ Options | Currently, there are no plans/ options under the Scheme. |
| Exit Load | Nil. |
| Minimum Application Amount for Application/Subscription | During NFO: Rs. 1,000 and in multiples of Re.1. During Ongoing/Continuous Offer: On Stock Exchanges: Investors can buy/sell units of the Scheme in round lot of 1 unit and in multiples thereof. Directly with the Mutual Fund: Authorised Participant(s)/ Investor(s) can buy/sell units of the Scheme in Creation Unit Size viz. 4,00,000 units and in multiples thereof. |
| Special Products | Not Available |
| Benchmark | Nifty Financial Services Ex-Bank TRI |
| Allotment Date | 25th November 2022 |
| Listing | The units of the scheme are proposed to be listed on the BSE and NSE within 5 Business Days from the date of allotment |
| Fund Manager | Kayzad Eghlim and Nishit Patel |
| MICR Cheques, Transfer Cheques & RTGS | MICR cheques will be accepted till the end of business hours up to 18th November 2022. |
| Switch into the Scheme | Electronic Payments and Real Time Gross Settlement (RTGS) requests will be accepted till 1 PM on 25th November 2022. Not Available |
For details of other schemes managed by the same fund managers, click here.
You can now read more about our ICICI Prudential Nifty Financial Services Ex-Bank ETF Presentation
#It may be noted that the scheme risk-o-meter specified above is based on the internal assessment of the
scheme characteristics and may vary post NFO when the actual investments are made. The same shall be
updated in accordance with provisions of SEBI circular dated October 5, 2020 on Product labelling in
mutual fund schemes on ongoing basis.
Disclaimer of BSE Limited: It is to be distinctly understood that the permission given by BSE Limited
should not in any way be deemed or construed that the SID has been cleared or approved by BSE Limited
nor does it certify the correctness or completeness of any of the contents of the SID. The investors are
advised to refer to the SID for the full text of the Disclaimer clause of the BSE Limited” Disclaimer of
National Stock Exchange of India Limited: It is to be distinctly understood that the permission given by
NSE should not in any way be deemed or construed that the Scheme Information Document has been cleared
or approved by NSE nor does it certify the correctness or completeness of any of the contents of the
Scheme Information Document. The investors are advised to refer to the Scheme Information Document for
the full text of the 'Disclaimer Clause of NSE" Disclaimer of NSE Indices Limited (NSE Indices): The
Product(s) are not sponsored, endorsed, sold or promoted by NSE Indices Limited (" NSE Indices"). NSE
Indices does not make any representation or warranty, express or implied, to the owners of the
Product(s) or any member of the public regarding the advisability of investing in securities generally
or in the Product(s) particularly or the ability of the Nifty Financial Services Ex-Bank Index to track
general stock market performance in India. The relationship of NSE Indices to the Issuer is only in
respect of the licensing of certain trademarks and trade names of its Index which is determined,
composed and calculated by NSE Indices without regard to the Issuer or the Product(s). NSE Indices does
not have any obligation to take the needs of the Issuer or the owners of the Product(s) into
consideration in determining, composing or calculating the Nifty Financial Services Ex- Bank Index. NSE
Indices is not responsible for or has participated in the determination of the timing of, prices at, or
quantities of the Product(s) to be issued or in the determination or calculation of the equation by
which the Product(s) is to be converted into cash. NSE Indices has no obligation or liability in
connection with the administration, marketing or trading of the Product(s). NSE Indices do not guarantee
the accuracy and/or the completeness of the Nifty Financial Services Ex-Bank Index or any data included
therein and they shall have no liability for any errors, omissions, or interruptions therein. NSE
Indices does not make any warranty, express or implied, as to results to be obtained by the Issuer,
owners of the product(s), or any other person or entity from the use of the Nifty Financial Services Ex-
Bank Index or any data included therein. NSE Indices makes no express or implied warranties, and
expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with
respect to the index or any data included therein. Without limiting any of the foregoing, NSE Indices
expressly disclaim any and all liability for any damages or losses arising out of or related to the
Products, including any and all direct, special, punitive, indirect, or consequential damages (including
lost profits), even if notified of the possibility of such damages
ICICI ETF is part of ICICI Prudential Mutual Fund and is used for exchange traded funds managed by ICICI
Prudential Asset Management Company Limited.
#It may be noted that the scheme risk-o-meter specified above is based on the internal assessment of the
scheme characteristics and may vary post NFO when the actual investments are made.
Mutual Fund investments are subject to market risks, please read all scheme related documents
carefully.
