ICICI Prudential MF launches metal ETF

ICICI Prudential Mutual Fund has launched ICICI Prudential Nifty Metal ETF.

The underlying index i.e. Nifty Metal Index includes companies from the metal sector, including both ferrous and non-ferrous metals. It comprises up to 15 stocks that are listed on the NSE.

In a press release, Chintan Haria, Principal - Investment Strategy, ICICI Prudential MF, said, “The ETF is designed to provide investors with access to one of the critical sectors that forms the backbone of industrial growth. The metal sector, encompassing crucial industries like steel, aluminium and copper is integral to infrastructure and economic development. With increasing demand and consumption, especially in a rapidly growing economy like India, this sector presents a compelling long-term investment opportunity.”