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ICICI Prudential Mutual Fund will launch Healthcare ETF, which aims to provide returns that closely correspond to the returns provided by its benchmark Nifty Healthcare TRI Index.
The New Fund Offer opens on Thursday and closes on May 14.
The index will be listed on the NSE and BSE. The Healthcare ETF provides investors a choice to take exposure to multiple facets of healthcare through this product.
Nimesh Shah, Managing Director, ICICI Prudential AMC, said the ETF provides exposure to a basket of securities in the healthcare sector.
Given the rising health problems, lifestyle choices and outbreak of epidemics, the healthcare sector has a strong potential to grow steadily in the coming decade, he said.
The need for better healthcare facilities will always be a constant need, considering the large population of India. Therefore this sector provides a good scope of investment, he added.
The Nifty Healthcare Index comprises of 20 fast-growing Indian healthcare companies. The index has outperformed Nifty 50 in 6 out of the last 10 calendar years.
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