ICICI Prudential Nifty EV & New Age Automotive ETF FOF – Direct (G) : NFO Details

The ICICI Prudential Nifty EV & New Age Automotive ETF Fund of Funds (FOF) is an open-ended scheme designed to invest in units of the ICICI Prudential Nifty EV & New Age Automotive ETF. Its primary objective is to generate returns by investing in this ETF, though there is no assurance of achieving this goal. The scheme offers liquidity through daily sale, switch-in, and redemption options at NAV-based prices. The performance will be benchmarked against the Nifty EV & New Age Automotive TRI.

Details of the NFO: ICICI Prudential Nifty EV & New Age Automotive ETF Fund of Funds (FOF) – Direct (G)

Investment Objective and Strategy

Objective:

ICICI Prudential Nifty EV & New Age AutomotiveETF FOF is a Fund of Funds scheme with the primary objective to generate returns by investing in units of ICICI Prudential Nifty EV & New Age AutomotiveETF.

There can be no assurance or guarantee  that  the investment objectives of the Scheme would be achieved.

Investment Strategy:

The Scheme would endeavor to provide investment returns linked to the underlying scheme. The Scheme intends to achieve its investment objective by investing in units of underlying scheme -ICICI Prudential Nifty EV & New Age AutomotiveETF and Debt & Money Market Instruments. The AMC shall endeavor that the returns of the Scheme will replicate the returns  generated by underlying scheme. Further, the Scheme shall follow a passive investment strategy. The deviation of returns from the scheme benchmark return may be on account of the tracking error of underlying scheme and expense ratio. The Scheme will invest in the units of underlying scheme directly or through secondary market. The Scheme can also invest in debt securities. 

What are he risk associated with this NFO?

The scheme specific risk factors of the underlying scheme becomes applicable where a Fund of fund invests in any underlying scheme. Investors who intend to invest in Fund of Fund are required to and are deemed to have read and understood the risk factors of the underlying scheme relevant to the Fund of Fund scheme that they invest in. Copies of the Scheme Information Documents pertaining to the various schemes of ICICI Prudential Mutual Fund. 

What type of investor should invest  in ETF?

The ICICI Prudential Nifty EV & New Age Automotive ETF Fund of Funds (FOF) is suited for investors who are looking to gain exposure to the growing electric vehicle (EV) and new-age automotive sectors. It is ideal for those with a long-term investment horizon, as the scheme primarily aims to generate returns by investing in units of the ICICI Prudential Nifty EV & New Age Automotive ETF. This NFO is suitable for investors who are comfortable with the risks associated with index-based investments and passive strategies. Additionally, investors should be aware of potential tracking errors and the risk factors of the underlying schemes. Those interested in diversified exposure to EV and automotive sectors, and who are willing to accept market volatility, would benefit from this NFO.