ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Nifty PSU Bank ETF, an open-ended exchange traded fund tracking Nifty PSU Bank Index. The ETF will reflect the performance of 12 PSU bank companies which form a part of the index.
NFO opens on March 13, 2023 and closes on March 15, 2023.
Why Invest in the ICICI Prudential Nifty PSU Bank ETF?
• Robust Demand – Banks intermediate by accepting deposits and lending money to those in need thereby facilitating optimum utilization of scarce resources
• Economic Growth – PSU Banks have effectively captured the GDP growth of the country due to it being a beneficiary from all sectors of the economy
• Improving Asset Quality – Asset quality is improving due to reforms which may lead to risk reduction and higher returns
• Low Capital Requirement – For a minimum investment amount of Rs.1000, an investor gets the opportunity to invest in most of the biggest banks in the country
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