ICICI Prudential MF launches two funds tracking Nifty Top 15 Equal Weight Index


ICICI Prudential Mutual Fund has launched two new schemes—ICICI Prudential Nifty Top 15 Equal Weight ETF and ICICI Prudential Nifty Top 15 Equal Weight Index Fund. The New Fund Offer (NFO) period for both schemes will run from June 10 to June 24, 2025.

These funds aim to provide investors access to the top 15 companies by free-float market capitalisation within the Nifty 50 universe. Each stock in the portfolio carries equal weight, reducing concentration risk and enhancing sectoral diversification.

The underlying index covers large-cap firms from sectors such as financial services, automobiles, FMCG, IT, and telecom. The index is rebalanced quarterly and reconstituted semi-annually to maintain alignment with market leaders.

According to ICICI Prudential AMC, the equal-weighted approach helps reduce dependence on a few dominant stocks, making the strategy suitable for long-term, diversification-focused investors.

As of May 29, 2025, the Nifty Top 15 Equal Weight Index was trading below its three-year average price-to-earnings (P/E) ratio, indicating relatively attractive valuations.

Key scheme details:

  • Benchmark: Nifty Top 15 Equal Weight TRI
  • Fund Managers: Nishit Patel and Ashwini Shinde
  • Minimum Investment (Index Fund): ₹1,000 and in multiples of ₹1
  • ETF Trading: On exchanges in units of 1 or via authorised participants in creation units of 3,70,000
  • Plans/options: Regular and direct plans; growth and IDCW options

These products cater to investors seeking rules-based, cost-effective exposure to India’s top-performing large-cap companies through ETF or index fund structures.

Both schemes track the Nifty Top 15 Equal Weight TRI, which has historically delivered higher long-term returns compared to the broader Nifty 50 TRI, especially during periods of market volatility.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *