ICICI Prudential Mutual Fund launches FMCG ETF

ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential FMCG ETF. The New Fund Offer (NFO) closes for subscription on August 02. The ETF is benchmarked against Nifty FMCG TRI Index. The fund will be listed on BSE and NSE. The minimum investment during NFO is Rs 1,000 and in multiples of Re 1.

According to the press release, ICICI Prudential FMCG ETF provides investors with a choice to take exposure to multiple facets of the FMCG sector. The NIFTY FMCG Index comprises 15 stocks from the FMCG sector listed on the National Stock Exchange (NSE). This index has outperformed the Nifty 50 index in 8 out of the last 11 calendar years.

“ICICI Prudential FMCG ETF provides exposure to a basket of securities in the FMCG sector. Higher inclination towards branded products, rising purchasing power owing to higher disposable income, increased digitization and growing demand from rural areas, are expected to fuel the FMCG sector growth in India. One can say that this sector approximately accounts for more than half of consumer spending,” said Nimesh Shah, MD & CEO, ICICI Prudential AMC.