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Home / Mutual Funds / News /  ICICI Pru Mutual Fund launches ICICI Pru Nifty IT Index Fund
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NEW DELHI: ICICI Prudential Mutual Fund has launched ICICI Prudential Nifty IT Index Fund, an open-ended index scheme replicating the Nifty IT index. The new fund offer (NFO) opened for subscription 28 July and will close on 8 August.

The NIFTY IT index captures the performance of Indian information technology companies. The index comprises 10 companies. The constituents of the index as on 30 June 2022 were Infosys (26.65%), Tata Consultancy Services (26.50%), Tech Mahindra (9.27%), HCL Technologies (9.16%), Wipro (9.15%), Mphasis (4.76%), MindTree (4.65%), Larsen & Toubro Infotech (4.54%), Coforge (3.24%), L&T Technology Services (2.08%).

The scheme aims to invest in companies whose securities are included in the Nifty IT index to achieve returns of the index, subject to tracking error. This would be done by investing in all the stocks in the same weightage that they represent in the index.

The performance of the scheme would be benchmarked against Nifty IT TRI (Total Return Index). Kayzad Eghlim and Nishit Patel are the fund managers to the scheme.

The is nil entry and exit. The minimum subscription amount is 1,000 and in multiples of 1 thereafter.

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