ICICI Prudential MF has just announced the launch of a new fund, the ICICI Prudential Nifty Commodities ETF. The passively managed fund looks to track the Nifty Commodities Index which is made up a variety of companies in the commodities sectors such as, oil, gas, cement, power, chemicals, sugars, and metal mining. A quote from the Head of Product Development and Strategy at ICICI states, “The commodity market has always been one of the most attractive asset classes. The demand for commodity inputs, categorized as hard and soft commodities, generally remains high as they fuel economic growth of the country.
ETF Newz Says:
The price of commodities tend to correlate with inflation which puts this fund in a potential spot for positive growth.
