ICICI Prudential Mutual Fund launches ICICI Prudential Nifty Oil & Gas ETF

Daily Current Affairs / ICICI Prudential Mutual Fund launches ICICI Prudential Nifty Oil & Gas ETF

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Category : Business and economics Published on: July 12 2024

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ICICI Prudential Mutual Fund has launched the ICICI Prudential Nifty Oil & Gas ETF, marking India's first exchange-traded fund focused specifically on the oil and gas sector.
The ETF is designed to track the performance of the Nifty Oil & Gas TRI, an index that reflects the performance of listed companies in the oil and gas sector on the National Stock Exchange.
The Nifty Oil & Gas Index includes up to 15 stocks, with rules ensuring no single company exceeds 33% of the index weight and the top three companies combined do not exceed 62%, providing balanced and diversified exposure for investors.