New equity traded fund (ETF) offer from ICICI Prudential

ICICI Prudential Mutual Fund
Scheme Name ICICI Prudential Healthcare ETF
Objective of Scheme The investment objective of the scheme is to provide returns before expenses that closely correspond to the total return of the underlying index subject to tracking errors.
Scheme Type Open Ended
Scheme Category Other Scheme – Other ETFs
New Fund Launch Date 06-May-2021
New Fund Offer Closure Date 14-May-2021
Indicate Load Separately Entry Load: Not Applicable. Exit Load: There will be no exit load for units sold through the secondary market on the BSE/NSE. Investors shall note that the brokerage on sales of the units of the scheme on the stock exchanges shall be borne by the investors.
Minimum Subscription Amount Rs.1,000
For Further Details Please Visit Website

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Mutual Funds Based on Asset Class

Equity Traded Fund: An ETF, or exchange traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs experience price changes throughout the day as they are bought and sold.

Mutual Funds Based on Structure

Open-Ended Funds: These are funds in which units are open for purchase or redemption through the year. All purchases/redemption of these fund units are done at prevailing NAVs. Basically these funds will allow investors to keep invest as long as they want. There are no limits on how much can be invested in the fund. They also tend to be actively managed which means that there is a fund manager who picks the places where investments will be made. These funds also charge a fee which can be higher than passively managed funds because of the active management. They are an ideal investment for those who want investment along with liquidity because they are not bound to any specific maturity periods. Which means that investors can withdraw their funds at any time they want thus giving them the liquidity they need.

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