Govt hires ICICI Prudential MF to manage new CPSE ETF

ICICI Prudential Mutual Fund has been appointed by the government to manage the second CPSE exchange traded fund ( ETF ) comprising stocks of PSUs in the current fiscal with an estimated corpus of Rs 6,000 crore. The appointment criteria and evaluation process comprises both technical and financial parameters. 

 

The other fund houses in the race were Reliance, HDFC SBI, UTI, Kotak and Birla Sunlife MFs, industry sources said. "The department of investment and public asset management, the ministry of finance, appoints ICICI Prudential Asset Management Company (AMC) for creation and launch of a new ETF," ICICI Prudential MF said in a statement. The government proposes to create and launch the ETF in addition to the existing CPSE ETF, comprising stocks of listed CPSEs and the central government's stake in other corporate entities.

 

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