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ICICI Prudential Mutual Fund launches NFO of Nifty 500 Index Fund

ICICI Prudential Mutual Fund has launched a new fund offer (NFO) for the ICICI Prudential Nifty 500 Index Fund, which opened for subscription on March 11, 2024, and will close on March 25, 2024. This fund aims to replicate the performance of the Nifty 500 Total Return Index (TRI), providing investors with an opportunity to invest in a diversified portfolio that spans large, mid, and small-cap companies across various sectors. The Nifty 500 Index represents about 96% of the total market capitalization of the listed stocks in India, offering broad market exposure. The fund will be managed by Nishit Patel and Priya Sridhar, and it is designed to offer investors a cost-effective way to gain exposure to the Indian equity market with a focus on long-term capital appreciation. The minimum investment amount during the NFO period is Rs 100, with subsequent investments in multiples of Re 1.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/money/other/icici-prudential-mutual-fund-launches-nfo-of-nifty-500-index-fund/ar-AA1vbm7t ]