Mumbai, May 03, 2021: ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Healthcare ETF. The New Fund Offer (NFO) opens on May 06, 2021 and closes on May 14, 2021. The offering aims to provide returns that closely correspond to the returns provided by its benchmark Nifty Healthcare TRI Index in the same proportions, subject to tracking errors. The fund will be listed on NSE and BSE.
Speaking on the launch of the product, Mr Nimesh Shah, MD & CEO, ICICI Prudential AMC said, “ICICI Prudential Healthcare ETF provides exposure to a basket of securities in the healthcare sector. Given the rising health problems, lifestyle choices and outbreak of epidemics, the healthcare sector has a strong potential to grow steadily in the coming decade. Also, the need for better healthcare facilities will always be a constant need considering the large population of India. Therefore this sector provides a good scope of investment.”
Considering the growth drivers of the healthcare sector, ICICI Prudential Healthcare ETF provides investors with an opportunity to benefit from this growing segment in a cost effective manner through this ETF.
The Nifty Healthcare Index comprises of 20 fast growing Indian Healthcare companies. In terms of index constituents, Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, Divi’s Laboratories, Cipla and Apollo Hospitals Enterprise form the top five names of the index. This index has outperformed Nifty 50 index in 6 out of the last 10 calendar years. (Source: www.nseindia.com, Data as of March 2021).
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