· ICICI Prudential NASDAQ 100 Index Fund, an open-ended index fund replicates the NASDAQ-100 Index® providing exposure to 100 largest globally leading non-financial companies
· Suitable for investors seeking global equity market exposure and potential hedge against rupee depreciation vs Dollar
· NFO opens September 27, 2021, and closes on October 11, 2021
· Minimum investment required during NFO: Rs. 1000/-
Mumbai, September 28, 2021: ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential NASDAQ 100 Index Fund, an open-ended index fund replicating the NASDAQ-100 index®. The scheme provides exposure to 100 largest globally leading non-financial companies and aims to track returns of the NASDAQ-100 Index®, subject to tracking error.
Speaking on the launch of the product, Mr. Chintan Haria, Head- Product Development & Strategy, ICICI Prudential AMC said, “ICICI Prudential NASDAQ 100 Index Fund is the first global based offering in our passive universe. It is an open ended index fund that aims to track the NASDAQ-100 index® and replicate the performance of its constituents. Nasdaq-100 Index® mainly includes innovation led technology and communications services companies; many of which are part of our day to day lives like Apple, Microsoft, Facebook, Alphabet, Facebook, Netflix, Starbucks. This offering is suitable for investors looking for geographical diversification in their equity allocation in Index Funds.”
Why should investors consider ICICI Prudential NASDAQ-100 Index Fund?
· Access to globally leading companies that maintain dominant positions in the market
· With a market cap of $18T, this index has outperformed broad market in US
· NASDAQ-100 Index® has grown ~ 4x times in last two decades
· Potential hedge against Rupee Depreciation vs Dollar
· NASDAQ-100 Index® has relatively lower correlation with Indian equity indices
Markets around the globe perform differently each year, thus diversification to international markets may enable investors to earn better returns. There is several advantage of investing in US markets. Not only is it a developed country with mature markets and highest share in global equity markets (59%), US is also a market which provides investors with an opportunity to invest into themes such as cloud computing, ecommerce, artificial intelligence etc. which is not much available in the domestic markets. Data Source: BofA Global Research Report.
US market performance over the last decade
Source: Nasdaq, Factset. https://www.nasdaq.com/market-activity/stocks/fds and MFI Explorer. Data as on 1st September, 2021. Past performance may or may not be sustained in the future. The Total Return Variant of the Index has been used. The performance figures pertain to the Index and do not in any manner indicate the returns/performance of the Scheme.
About the Index
The Nasdaq-100 Index®is one of the world’s preeminent large-cap growth indexes and is home to some of the most innovative companies globally. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. The index composition is reviewed on an annual basis in December. In terms of weightages; the index is largely skewed towards technology stocks (44%). The constituents of NASDAQ100 index® have grown the value of their patents by 900% since May 2007.
Source: https://www.nasdaq.com, Data as on August 31, 2021
For further information, please contact Adil Bakhshi – 91-9920010203
Riskometer & Disclaimer:
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Past performance may or may not be sustained in the future The sector(s)/stock(s) mentioned in this document do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future positions in the sector(s)/stock(s). The asset allocation and investment strategy will be as per SID.
The Product(s) is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as the “Corporations”). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product(s). The Corporations make no representation or warranty, express or implied to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the NASDAQ-100 INDEX® to track general stock market performance. The Corporations’ only relationship to ICICI Prudential Asset Management Company Limited (“Licensee”) is in the licensing of the Nasdaq®, NASDAQ-100 ®, NASDAQ-100 INDEX®, and certain trade names of the Corporations and the use of the NASDAQ-100 INDEX® which is determined, composed and calculated by Nasdaq without regard to Licensee or the Product(s). Nasdaq has no obligation to take the needs of the Licensee or the owners of the Product(s) into consideration in determining, composing or calculating the NASDAQ-100 INDEX®. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).
The Corporations do not guarantee the accuracy and/or uninterrupted calculation of NASDAQ-100 INDEX® or any data included therein. The Corporations make no warranty, express or implied, as to results to be obtained by Licensee, owners of the product(s), or any other person or entity from the use of the NASDAQ-100 INDEX® or any data included therein. The Corporations make no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the NASDAQ-100 INDEX® or any data included therein. Without limiting any of the foregoing, in no event shall the Corporations have any liability for any lost profits or special, incidental, punitive, indirect, or consequential damages, even if notified of the possibility of such damages.
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