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ICICI Prudential Mutual Fund has launched ‘Alpha Low Vol 30 ETF’ an open ended index exchange traded fund, tracking Nifty Alpha Low-Volatility 30 Index.
The New Fund Offer will be open for învestment between August 3 and 10. The units of this ETF will be listed on NSE and BSE.
The new ETF of ICICI MF intends to counter the cyclical theory of single factor index structure strategy. .
Nimesh Shah, MD & CEO, ICICI Prudential AMC said the new ETF is based on a multifactor smart beta strategy that addresses high sector concentration of single factor based index strategies through diversification of factor-risk exposures and exhibiting lower performance swings.
Through this ETF, an investor gets access to smart beta strategy which is rule-based and cost-effective, he said.
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