The investment focus of the scheme will be on companies in the Electronic Vehicle (EV) ecosystem and new-age automotive sector.
ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Nifty EV & New Age Automotive ETF. The open-ended Exchange-Traded Fund will be tracking the Nifty EV & New Age Automotive Index.
The fund house is also introducing the ICICI Prudential Nifty EV & New Age Automotive ETF Fund of Funds (FOF), so that investors who don’t have a Demat account too can participate in this scheme.
“This launch provides investors with an opportunity to gain exposure to India’s rapidly expanding EV and new-age automotive sector, which includes electric two-wheelers, three-wheelers, passenger vehicles, commercial vehicles, battery manufacturers, components, raw materials suppliers, and automotive technology providers,” the company said.
The investment focus of the scheme will be on companies in the Electronic Vehicle (EV) ecosystem and new-age automotive sector. It will be benchmarked against the Nifty EV & New Age Automotive TRI.
According to Abhijit Shah, Chief Marketing & Digital Business Officer, ICICI Prudential AMC, the EV industry is projected to grow at good pace.
“Driven by increasing adoption and supportive government policies, this industry is projected to grow at an accelerated pace. By investing in the Nifty EV & New Age Automotive Index, investors can gain a diversified exposure to India’s rapidly evolving EV sector and can capitalize on the global shift towards sustainable mobility,” Shah said.
ICICI Prudential Nifty EV & New Age Automotive ETF subscription dates
ETF: March 21, 2025 – April 2, 2025
FOF: March 28, 2025 – April 10, 2025
ICICI Prudential Nifty EV & New Age Automotive ETF subscription dates: Minimum Investment Amount:
ETF – During NFO, the minimum investment required for the ETF is Rs 1,000 and thereafter in multiples of Re 1,
FOF – The investment amount is the same for the NFO both during the NFO and in the ongoing offer period.
ICICI Prudential Nifty EV & New Age Automotive ETF has been rated as Very High Risk on the benchmark riskometer.
This is suitable for investors who are seeking to generate wealth in the long term. However, they must consult their financial advisers before making a final decision.
