ICICI Prudential Mutual Fund launches ICICI Prudential Nifty50 Value 20 Index Fund

ICICI Prudential Mutual Fund has launched ICICI Prudential Nifty50 Value 20 Index Fund. ICICI Prudential Nifty50 Value 20 Index Fund is an open-ended index scheme replicating Nifty 50 Value 20 Index.

The scheme will invest in the securities included in the Nifty50 Value 20 Index (underlying index) which consists of the top 20 most liquid value blue chip companies listed on the NSE forming part of Nifty 50. The 20 constituents in the portfolio will be from the Nifty 50 Index.

The investment objective of the scheme is to provide returns that closely correspond to the returns of its benchmark Nifty50 Value 20 Index, subject to tracking error.

The scheme will be managed by Nishit Patel, Priya Shridhar, and Kewal Shah.

The scheme will allocate 95-100% in equity and equity related securities of companies constituting the underlying index (Nifty50 Value 20 Index) and 0-5% in money market instruments including TREPs and units of debt schemes.