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NFO Monitor

Fund Fact

Name of Funds:

ICICI Prudential Nifty Auto Index Fund

Opening:

22nd September 2022

Closing:

6th October 2022

Minimum Investment:

Rs.1000/- (plus in multiple of Re.1)

Plan:

Regular and Direct

Options:

Growth and IDCW

Entry Load:

Not Applicable

Exit Load:

Not Applicable

Fund Stats

Objective:

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

95-100% Equity upto 5% Money Market

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

Idea Distiller

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

Uniqueness

Return

Risk

Operability

Oomph 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.

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Important Links

Fund

Snapshot

Company

Registered with AMFI AMFI Registration No: 2654 Initial Registration Date: 19th March 2003 Validity: 14th May 2025 to 23rd May 2028