ICICI Prudential Nifty Metal ETF NFO: Review, Date & NAV

ICICI Prudential Nifty Metal ETF NFO- Complete Overview

The ICICI Prudential Nifty Metal ETF by ICICI Prudential Mutual Fund is an open-ended Exchange Traded Fund tracking the Nifty Metal Index under its AMC, ICICI Prudential Asset Management Company Limited with an AUM of over Rs.6.71lac crores as of December 30, 2023. On the Nifty Metal TRI, the NFO will be open from August 1, 2024, to August 12, 2024, with the amount of Rs.1000. This fund aims to generate returns before costs that, subject to tracking errors, match the underlying TRI. 

95-100% of its assets are allocated to equity and equity-related instruments of the Nifty Metal Index constituent companies, and 0-5% to money market instruments. This scheme is categorized as extremely risky with no assurance of its fulfillment and is intended for individuals who are looking to invest in an exchange-traded fund that seeks to generate returns comparable to the Nifty Metal Index, subject to tracking error for long-term wealth creation.

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Fund Overview

The ICICI Prudential Nifty Metal ETF has set the minimum subscription amount at Rs.1000 and in multiples of Rs.1 thereof with a stamp duty of 0.005% (From July 1st, 2020).

Start Date	1 August 2024
End Date	12 August 2024
Allotment Date / Subscription Date	Within 5 business days after the end date of the NFO.
VRO Rating	-
Expense Ratio	NA
Exit Load	Nil.
AUM	Rs.6.71lac crores
Lock-In	NA
Stamp Duty	0.005% (From July 1st 2020)
Benchmark	Nifty Metal TRI
Min. Investment	Rs.1000
Risk	Very High
Short-Term Capital Gains (STCG)	For less than 2 years, as per TAX Slab.
Long-Term Capital Gains (LTCG)	For more than 2 years, a 12.50% Tax is applicable.

 

How To Invest In The NFO After The Closure Date?

If you have missed participating in the NFO and now want to invest in the same Scheme on a continuous basis, then within 5 business days after the closure date of the NFO; you can participate directly in the Mutual Fund by spending at NAV based price; by logging on to your Demat Account or directly with the AMC and search for “ICICI Prudential Nifty Metal ETF” or simply touch the “Banner” below.

 

 

The Objective of The Fund

The Scheme seeks to provide returns that seek to give returns before expenses that, subject to tracking errors, match the underlying TRI. Nevertheless, there can be no assurance or guarantee that the scheme's investment goals will be met.

Asset Allocation (% Of Net Assets) Of The Scheme's Portfolio Will Be As Follows:

Types of Instruments	Minimum Allocation (% of Net Assets)	Maximum Allocation (% of Net Assets)
Equity and equity-related instruments of the Nifty Metal Index constituent companies.	95	100
Money market instruments	0	5

 

Peers of ICICI Prudential Nifty Metal ETF

No data related to Nifty Metal ETF is available.

Since this scheme is a new scheme, hence no comparable data of its past performance against its peers is available.

Risk Factors In Such Funds

• It's not necessary for the prices displayed on the screen to match the ones at which the transaction is executed.
  
  

• The risks involved in using derivatives are distinct from, and may even exceed, the risks involved in making direct investments in stocks and other conventional financial instruments.
  
  

• The scheme's success will be directly impacted by the Nifty Metal TRI performance. Therefore, the scheme will be affected by any changes in composition caused by changes in weightage or stock selection.
  
  

• Due to daily price variations brought on by market changes, REITs and InvITs are unstable investments.

Past Performance of ETF Funds

ETF Funds	NAV (Rs.)	Annualized Returns (%)	Return / Risk
Invesco India Gold ETF FoF Direct-Growth	21.15	17.91	High
Aditya Birla Sun Life Silver ETF FoF Direct-Growth	13.49	15.43	Very High
Edelweiss Gold and Silver ETF FoF Direct - Growth	14.1	15.85	Very High

 

ICICI Prudential Nifty Metal ETF NFO-Who Can Invest?

This Fund is ideal for those who want to invest in an exchange-traded fund that seeks to generate returns comparable to the Nifty Metal Index, subject to tracking error for long-term wealth creation.

 

 

ICICI Prudential Nifty Metal ETF NFO-Growth Fund Managers

• Mr. Nishit Patel

• Ms. Priya Shridhar
  
  

Conclusion

ICICI Prudential Nifty Metal ETF is designed for such investors looking to diversify their portfolios through investments to attain long-term capital and returns before costs that, subject to tracking errors, match the underlying TRI. The scheme is a new one and no past performance data is available. Always assess your Financial Goals, Risk tolerance, time horizon, etc. before making an investment decision. 

Disclaimer: This NFO analysis is provided solely for informative reasons and should not be construed as investment advice. Always conduct research and talk with a financial advisor before investing.