ICICI Prudential Nifty Bank ETF
BANKIETF.BO
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- ICICI Prudential Nifty Bank ETF (BANKIETF.BO) is an open-ended exchange traded fund that tracks the Nifty Bank Index, providing returns before expenses that closely correspond to the total return of the underlying index subject to tracking errors. Launched on July 10, 2019, and listed on the National Stock Exchange of India (NSE) and BSE Limited on July 15, 2019, the ETF is managed by ICICI Prudential Asset Management Company Limited, with registered office at 12th Floor, Narain Manzil, 23 Barakhamba Road, New Delhi 110001, India, and corporate office in Mumbai. The scheme invests 95-100% of its net assets in equity and equity-related securities of companies constituting the Nifty Bank Index, predominantly banking sector stocks including private and public sector banks; up to 5% is allocated to units of liquid schemes, money market instruments with maturity not exceeding 91 days including TREPS, cash and cash equivalents, and derivative instruments such as stock/index futures and options for hedging or rebalancing purposes. The ETF operates primarily in the Indian financial services sector, targeting investors seeking long-term capital appreciation through passive exposure to the banking industry via stock exchange trading in minimum lots of one unit or creation/redemption in multiples of 50,000 units directly with the fund for eligible participants including market makers. Assets under management stood at approximately Rs 3,286 crore as of November 30, 2025, with units traded on NSE under symbol BANKIETF and BSE under 542730, supported by authorized participants such as East India Securities Limited, Kotak Securities Limited, and others providing liquidity. The benchmark is Nifty Bank Total Return Index (TRI), with fund managers including Mr. Nishit Patel (since January 2021), Ms. Priya Sridhar and Mr. Ajaykumar Solanki (since February 2024), and Ms. Ashwini Shinde (effective November 4, 2024).