As per an Economic Times article, ‘Bharat 22’ Exchange Traded Fund, a New Fund Offer (NFO) managed by ICICI Prudential Mutual Fund is going to be in the market this November. Subscription to the fund will open on November 14th for anchor investors and on November 15th for retail investors and will last till November 17th.
The Secretary of Department of Investment and Public Asset Management (DIPAM) has described the fund as well-diversified since it lets subscribers invest in such state-owned organizations/public sector undertakings as ONGC, IOC, SBI, Bank of Baroda, Indian Bank, BPCL, Coal India and NALCO.
The fund is expected to receive an overwhelming response as it will give investors an opportunity to invest in six core sectors of basic materials, finance, energy, FMCG, industries and utilities. Through this fund, subscribers will also be able to invest in the government’s strategic holding in Axis Bank, ITC and L&T held through SUUTI (Specified Undertaking of Unit Trust of India). Alongside the above companies, Bharat 22 ETF will let you invest in such central public sector companies as Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL and NLC India.
An upfront discount of 3% is also being offered to all investors of this ETF. ICICI Prudential Mutual Fund, MD and CEO, Nimesh Shah believes that this ETF offers an attractive long term investment opportunity to its subscribers. Owing to its diversified portfolio, the government expects to raise an initial amount of Rupees 8,000 Crore from this ETF.
Other Funds by ICICI Prudential Asset Management
| Scheme Name | 3Y Returns (%) | AUM (Rs. Cr.) | Category |
| ICICI Prudential US Bluechip Equity Fund | 17.56 | 155.44 | Sectoral/Thematic Fund |
| ICICI Prudential Technology Fund | 16.88 | 366.24 | Sectoral/Thematic Fund |
| ICICI Prudential FMCG Direct Plan | 12.83 | 389.29 | Sectoral/Thematic Fund |
| ICICI Prudential Banking and Financial Services Fund | 12.82 | 2703.9 | Sectoral/Thematic Fund |
| ICICI Prudential Nifty Index Fund | 11.59 | 327.6 | Large Cap Fund |
| ICICI Prudential Asset Allocator Fund (FOF) | 10.5 | 5.74 | Balanced Hybrid Fund |
| ICICI Prudential Bluechip Fund | 10.45 | 17141.91 | Large Cap Fund |
| ICICI Prudential Constant Maturity Gilt Fund | 10.08 | 26.27 | Gilt Fund with 10 year constant duration |
| ICICI Prudential Balanced Advantage Fund | 10.06 | 27123.16 | Dynamic Asset Allocation or Balanced Advantage |
| ICICI Prudential Long Term Bond Fund | 9.89 | 1223.84 | Long Duration Fund |
| ICICI Prudential Global Stable Equity Fund (FOF) | 9.81 | 90.62 | Sectoral/Thematic Fund |
| ICICI Prudential Regular Savings Fund | 9.62 | 1355.69 | Conservative Hybrid Fund |
| ICICI Prudential Regular Gold Savings (FOF) | 9.49 | 44.61 | Gold Funds |
| ICICI Prudential Long Term Equity Fund (Tax Saving) | 9.18 | 5299.48 | ELSS |
| ICICI Prudential All Seasons Bond Fund | 9.09 | 2286.07 | Dynamic Bond Fund |
| ICICI Prudential Gilt Fund | 8.96 | 743.86 | Gilt Fund |
| ICICI Prudential Credit Risk Fund | 8.88 | 10408.93 | Credit Risk Fund |
| ICICI Prudential Child Care Gift Fund | 8.88 | 477.69 | Aggressive Hybrid Fund |
| ICICI Prudential Multicap Fund | 8.52 | 2856.06 | Multi Cap Fund |
| ICICI Prudential Short Term Fund | 8.47 | 9123.29 | Short Duration Fund |
{Data as on Feb 19, 2020; Source: Value Research}