ICICI Prudential Nifty Auto Index Fund: A Reliable Option for Auto Sector Investment

Investing in the right mutual fund can help you grow your wealth and achieve your financial goals. If you are looking for a mutual fund that focuses on the auto sector, ICICI Prudential Nifty Auto Index Fund is a reliable option to consider.

ICICI Prudential Nifty Auto Index Fund is an Other Equity Index mutual fund scheme from ICICI Prudential Mutual Fund. Launched on September 22, 2022, the fund has been in existence for 1 year and 8 months. With ₹103 Crores worth of assets under management (AUM) as of March 31, 2024, this medium-sized fund has been performing well in its category.

When it comes to returns, ICICI Prudential Nifty Auto Index Fund has delivered impressive results. The fund has generated returns of 75.63% in the last 1-year period, outperforming the category average. Since its inception, the fund has provided an average annual return of 53.36%, which is a testament to its consistent performance.

ICICI Prudential Nifty Auto Index Fund aims to invest in companies whose securities are included in the Nifty Auto Index. By investing in all the stocks comprising the index in the same weightage, the fund seeks to achieve similar returns as the index itself. This strategy allows investors to gain exposure to the auto sector and benefit from its growth potential.

The fund has a well-diversified portfolio, with the majority of its assets invested in the automobile and capital goods sectors. Top holdings of ICICI Prudential Nifty Auto Index Fund include Mahindra & Mahindra Ltd., Maruti Suzuki India Ltd., Tata Motors Ltd., Bajaj Auto Ltd., and Hero Motocorp Ltd. These companies are leaders in the auto industry and have a strong track record of performance.

Investing in ICICI Prudential Nifty Auto Index Fund can be a smart choice for those looking to capitalize on the growth of the auto sector. The fund's consistent returns, well-diversified portfolio, and focus on the Nifty Auto Index make it a reliable option for long-term wealth creation.

Before investing, it is important to note that mutual funds are subject to market risk. Investors should carefully read all scheme-related documents and consider their risk tolerance before making any investment decisions. Past performance is not indicative of future returns.

Disclaimer: The information provided here is for informational purposes only and should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions.