Fund Facts
-
Name of Fund:ICICI Prudential Nifty Auto Index Fund
-
Opening:22nd September 2022
-
Closing:6th October 2022
-
Scheme Type:Open Ended Equity Index Funds
-
Minimum Investment:Rs.1000/- (plus in multiple of Re.1)
-
Plan:Regular and Direct
-
Options:Growth and IDCW
-
Entry Load:Not Applicable
-
Exit Road:Not Applicable
-
Thereafter:Nil
Fund Stats
The objective of the Scheme is to invest in companies whose securities are included in Nifty Auto Index and subject to tracking errors, to endeavour to achieve the returns of the above index. This would be done by investing in all the stocks comprising the Nifty Auto Index in the same weightage that they represent in Nifty Auto Index.
Benchmark:
BSE Auto
Fund Manager:
Kayzad Eghlim, Nishit Patel
Asset Allocation
Comparable existing schemes
| Edelweiss Nifty 50 Index Fund | 6.83(6M) | 1.70(1Y) |
| IDBI NIFTY Index Fund | 6.65(6M) | 1.65(1Y) |
Fund Prognosis
The fund is very upbeat on the auto/transportation segment. No wonder they are covering it so thoroughly with active & passive schemes. This being the passive one. If you think getting back to 2019 levels in auto sales in “24 will make the stocks ride north, then you could look at this.
Fund House AAUM:
Rs. 4,84,87,254.52 lakhs (as on June 30, 2022)
Fund Manager:
Combined experience of over 30 years
Scheme DNA 4 fundamentals
- UNIQNESS
- RETURN
- RISK
- OPERABILITY
OOMP Factor
At the outset, it is possible that the auto sales numbers are back on track. And it might lead to a re rating for the segment. And the stock prices will shoot up. Again, remember this is a big discretionary segment and state of the economy plays a big part. So it might not too. I will skip.