ICICI Prudential Mutual Fund has launched an open-ended exchange traded fund, ICICI Prudential Nifty PSU Bank ETF, tracking the Nifty PSU Bank Index, which reflects the performance of 12 PSU bank companies. The NFO will be open until March 15, 2023. According to Chintan Haria, Head of Investment Strategy at ICICI Prudential AMC, PSU banks have improved their efficiency, customer centric approach, technological superiority, and risk management frameworks over the past decade. This has resulted in a 65% decrease in net NPAs and a 15% increase in capital adequacy ratio since 2018.
ICICI Prudential Mutual Fund Launches ETF to Track Nifty PSU Bank Index
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The Nifty PSU Bank TRI has also delivered better returns than both Nifty 50 TRI and Nifty Bank TRI in recent years.