ICICI Prudential Mutual Fund has launched the Bharat 22 ETF, an open ended other ETF scheme. The NFO opens for subscription on November 14, 2017 and closes on November 17, 2017. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000.
The scheme’s performance will be benchmarked against S&P BSE Bharat 22 Index and its fund manager is Kayzad Eghlim.
The investment objective of the scheme is to invest in constituents of the underlying Index in the same proportion as in the underlying Index, and endeavor to provide returns before expenses, which closely correspond to the total returns of the underlying Index. However, the performance of the Scheme may differ from that of underlying index due to tracking error.