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.
First Published: Jun 10, 2025 4:14 PM IST