ICICI Pru Nifty EV & New Age Automotive ETF : NFO Details

The ICICI Pru Nifty EV & New Age Automotive ETF is an equity-based Exchange Traded Fund (ETF) that aims to provide returns closely aligned with the total return of its underlying index, subject to tracking errors. The fund’s objective is to track the performance of the Nifty EV & New Age Automotive Index. The minimum investment amount is ₹1,000, with the NFO open from March 21, 2025, to April 2, 2025. It is a growth scheme, and investors should note that returns are not guaranteed.

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Details of the NFO: ICICI Pru Nifty EV & New Age Automotive ETF

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.

What are the Investment Strategies?

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.

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What are the Risks Associated with this ETF?

Investors  may  please  note  that  they  will  be  bearing  the  recurring  expenses  of  the relevant Fund of Funds Scheme in addition to the expenses of the underlying schemes in which the Fund of Funds Scheme makes investment.

As  the  investors  are  incurring  expenditure  at  both  the  Fund  of  Fund  level  and  the schemes into which the Fund of Fund invests, the returns that they may obtain may be materially impacted or may at times be lower than the returns that investors directly investing in such schemes obtain.

As the Fund of Fund (FOF) factsheets and disclosures of portfolio will be limited to providing the particulars of the scheme invested at FOF level, investors may not be able to obtain specific details of the investments of the underlying scheme.

While it would be the endeavour of the Fund Manager of the Fund of Funds scheme to invest in the underlying scheme in a manner, which will seek to maximize returns, the performance of the underlying funds may vary which may lead to the returns of the Fund of Funds being adversely impacted.

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 This NFO?

1. Long term wealth Creation,
2. An Open-ended Fund of Funds scheme with the primary objective to generate returns by investing in units of ICICI Prudential Nifty EV & New Age AutomotiveETF.