ICICI Pru MF launches ICICI Prudential Alpha Low Vol 30 ETF

ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Alpha Low Vol 30 ETF, an open ended index exchange traded fund tracking Nifty Alpha Low Volatility 30 Index. The ETF will track Nifty Alpha Low-Volatility 30 Index. The New Fund Offer opens on August 3 and closes on August 10. The units of this ETF will be listed on NSE and BSE.

According to a press release shared by the fund house, the ETF aims to counter the cyclical theory of single factor index structure strategy. The index provides exposure to a portfolio of stocks from various sectors, based on combination of alpha and low volatility.

“ICICI Prudential Alpha Low Vol30 ETF is a multifactor smart beta strategy. This strategy addresses high sector concentration of single factor based index strategies through diversification of factor-risk exposures and exhibiting lower performance swings. Through this ETF, an investor gets access to smart beta strategy which is rule-based and cost-effective,” Nimesh Shah, MD & CEO, ICICI Prudential AMC.


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