ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Alpha Low Vol 30 ETF, an open ended index exchange traded fund tracking Nifty Alpha Low Volatility 30 Index. The ETF will track Nifty Alpha Low-Volatility 30 Index. The New Fund Offer opens on August 3 and closes on August 10. The units of this ETF will be listed on NSE and BSE. According to a press release shared by the fund house, the ETF aims to counter the cyclical theory of single factor index structure strategy. The index provides exposure to a portfolio of stocks from various sectors, based on combination of alpha and low volatility. “ICICI Prudential Alpha Low Vol30 ETF is a multifactor smart beta strategy. This strategy addresses high sector concentration of single factor based index strategies through dive
MUMBAI: Former ICICI Bank chief executive, Chanda Kochhar, has moved the Bombay High Court against her ex-employer for terminating her when the bank had accepted her request for an early retirement. Kochhar, one of India’s most prominent woman CEOs, said that Sandeep Bakshi was named her successor only after ICICI Bank had accepted her request for an early retirement. She pointed out that her retirement request was accepted by the bank in October 2018 and in February 2019, the bank issued her a termination letter. Kochhar, in her petition, has challenged the ‘purported termination’ and denial of the agreed remuneration, said two people familiar with the development. ICICI Bank didn’t respond to ET’s mailed queries. Kochhar has termed her termination “illegal, untenable, and unsustainable i
“In value investing, patience is a prerequisite to reap gains. That is why it is important for investors to stay put with their investments whether through SIP or otherwise. As value gets unlocked investors will be beneficiaries of exponential gains from these investments,” said Mrinal Singh, Deputy CIO- Equity, ICICI Prudential Mutual Fund, in an interview to Avneet Kaur of ETMutualFunds.com.ICICI Prudential Value Discovery Fund is underperforming its benchmark in one-, three- and five-year horizons. The scheme has given -8.60 per cent in the last one year, 3.31 per cent in the three-year period and 6.27 per cent in five years. What is the reason behind the underperformance?The recent performance of ICICI Prudential Value Discovery Fund has been a function of the markets being expensive w
ICICI Bank has introduced digital home loans and top-ups where customers can get an instant sanction and disbursement, subject to the borrower’s eligibility. The bank would deploy employees with devices in sourcing locations to enable a customer to fill in the details and obtain an instant sanction or get a top-up loan in their account immediately. “When we have already done a credit scoring of the customer and his bank statements and estimation of income, what value addition a personal interaction can do? We don’t want them to wait for an income statement and then obtain a bank statement printout from our branch and hand it over to the home loan department,” said ICICI Bank ED Anup Bagchi. He added that the value addition can come from helping the customer in finding property from among t
ICICI Prudential AMC announced launched the ICICI Prudential Bharat Consumption Scheme. The Scheme aims to benefit from the Indian consumption story, considered as one of the fastest growing consumption markets globally. The benchmark for the Scheme is Nifty India Consumption Index and will be managed by Rajat Chandak and Dharmesh Kakkad. The overseas investments of the scheme will be managed by Priyanka Khandelwal. "Globally, it has been observed that the moment a country’s per capita GDP crosses $ 2,000*, there is a disproportionate rise in discretionary spending and India is poised to cross this milestone in 2019-20,” Nimesh Shah, MD & CEO, ICICI Prudential AMC, said on the launch of the scheme. “With the largest millennial population globally, India offers a growt...