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First Auto Index Fund

Published on September 23, 2022
Current Context: ICICI Prudential Mutual Fund launched India’s first auto index fund, the ICICI Prudential Nifty Auto Index Fund.
First Auto Index Fund
  • The objective behind the launch of the ICICI Prudential Nifty Auto Index Fund is to give investors an opportunity to earn from the expected growth in the automobile, and e-Vehicle sectors.
  • The NIFTY Auto Fund Offer (AFO) opened on 22nd September 2022 and will close on 6th October 2022.
  • The index is devised using the free float market capitalization method and comprises fifteen listed companies and auto-related sectors.
  • Free float market capitalization is a method by which the market capitalization is calculated by multiplying the equity’s price by the number of shares available, excluding shares held by the promoters.
  • ICICI Prudential Mutual Fund is India’s asset management company that was established in 1993 with its headquarters in Mumbai, Maharashtra. The current MD & CEO of the company is Nimesh Shah.


Q.1 India’s first auto index fund is launched by?
a. BOI AXA Investment Managers Private Limited
b. ICICI Prudential Mutual Fund
c. Aditya Birla Sun Life AMC Limited
d. Axis Mutual Fund
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