ICICI Prudential Life Introduces a New Fund

News Desk, News Nation 360 : The ICICI Pru Sector Leaders Index Fund is a new fund offered by ICICI Prudential Life Insurance Company Limited under its well-liked Unit Linked Insurance Plans (ULIPs). By giving investors exposure to top businesses in more than 20 important Indian economic sectors, the fund seeks to provide clients with a ready-made equity portfolio. Commenting on the launch, Manish Kumar, Chief Investment Officer, ICICI Prudential Life Insurance Company Limited, stated that by utilising India's potential for long-term growth, the ICICI Prudential Sector Leaders Index Fund provides investors with an easy and efficient way to accumulate wealth. The fund will make investments in businesses that exemplify leadership in a variety of industries. by combining established market leaders from more than 20 industries into a single, rule-based portfolio. An index fund offers diversified exposure to the largest companies in the market, simplifying the process of stock selection. The ICICI Pru Sector Leaders Index Fund is a passive, rule-based equity fund that allows investors to ride the leaders of the market without making stock selections, which suits investors looking for a hassle-free long-term equity investment strategy that provides diversification based on sectors broadly, along with predominant investment in leaders. The fund will track the BSE India Sector Leaders Index, except when regulatory requirements restrict the investment in the stocks that comprise the index, which could result in a bit of tracking error, and the dividends are reinvested to aid in the compounding of the fund’s value in the long term. The fund, that has been launched around the company’s silver jubilee and is now available for investment, plans to invest 95-100% of its assets in equity that are a part of the BSE India Sector Leaders Index, along with a maximum of 5% investment in debt instruments, as well as money market instruments (including units of debt mutual funds) for meeting the regulatory liquidity requirements, with the minimum investment amount being Rs. 1,000, along with additional investment as per the stamp duty, if any, that maybe applicable.

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