ICICI Prudential Nifty200 Value 30 ETF is an open-ended index exchange-traded fund that tracks the Nifty200 Value 30 Index. ICICI Prudential Nifty200 Value 30 Index Fund is an open-ended fund that tracks the Nifty200 Value 30 Index.
Both offers fall under the smart beta category, focusing on a factor-based strategy to provide investors with a low-cost, value-based investment approach, according to the fund house’s press release.
The new fund offering or NFO of both schemes will open for subscription on September 30 and close on October 14.
The minimum application amount during NFO for ICICI Prudential Nifty200 Value 30 ETF and ICICI Prudential Nifty200 Value 30 Index Fund is Rs 100 (plus in multiples of Re 1).
The Nifty200 Value 30 Index consists of 30 stocks selected from the Nifty 200 Index, based on a ‘Value Score’. This score is calculated using key valuation factors to help value-conscious investors easily identify opportunities. The index offers exposure to companies that demonstrate good potential for long-term sustainable growth, according to the statement. “At a time when investors are looking for diversified strategies for long-term growth, value investing remains a crucial component of a complete portfolio. We are excited to introduce the Nifty200 Value 30 ETF and index fund, which offers investors a specific approach to value-based investing, which is designed to provide long-term growth,” he said Chintan HariyaDirector – Investment Strategy at ICICI Prudential AMC. The index is rebalanced semiannually, so it could be fully aligned with market trends and valuation principles.
The plans are based on the concept of value investing, which aims to target undervalued stocks. They expose investors to 30 companies from various sectors, thus diversifying their stock portfolio. Both schemes aim to offer low-cost options for investors along with low portfolio turnover, the statement said.
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