ICICI Prudential Life launches BSE 500 Enhanced Value 50 Index Fund

ICICI Prudential Life Insurance has launched the ICICI Prudential Life BSE 500 Enhanced Value 50 Index Fund, a new fund for its Unit Linked Insurance Plans (ULIPs). The fund aims to provide customers a platform to participate in India’s economic growth story by focussing on stocks which are fundamentally strong but currently offering value below their true potential.

The new fund, which is open for customers to invest in, will mirror the BSE 500 Enhanced Value 50 Index, which comprises 50 companies that are selected on value-based investment parameters such as earnings, book value and sales relative to price. The fund’s objective is to capture investment opportunities in fundamentally strong but temporarily undervalued companies, enabling customers to benefit as these stocks move towards their fair valuations over time.

Objective of this Index Fund

This index fund follows a systematic, rule-based investment process and is reconstituted quarterly to ensure it remains aligned with evolving value opportunities across large, mid and small-cap segments. This will allow customers to access a diversified portfolio with minimal effort and low tracking error. Regulations may restrict the fund from investing in all the stocks in line with their weights in the index from time to time. As a result, there could be a possible tracking error. Historically, the BSE 500 Enhanced Value 50 Index has delivered a more resilient performance than its parent index in 12 out of 19 years from 2006 to 2024, highlighting the long-term potential of a disciplined value strategy.

 Commenting on the launch, Mr Manish Kumar, Chief Investment Officer, ICICI Prudential Life Insurance Company Limited, said, “The ICICI Prudential Life BSE 500 Enhanced Value 50 Index Fund, a passively managed fund, will offer our ULIP customers a simple and transparent way to participate in India’s growth story. It will offer them the proven philosophy of long-term value investing to build wealth.

Customers entrust us with their savings to achieve their life goals and as a customer-centric brand we endeavour to provide them with investment options which can ensure the fruition of their long-term financial goals. 

We believe, the ICICI Prudential Life BSE 500 Enhanced Value 50 Index Fund will enable our customers to systematically save. Wealth creation is a long-term process and ULIPs, by design are ideal for this as they nudge customers to have a semi-forced discipline to investing. This index fund will enable our customers to achieve their long-term goals which could range from retirement planning to children’s education. Notably, the life cover offered by ULIP products ensures financial security for the family in case of an eventuality, besides being cost and tax efficient.”

With the launch of the BSE 500 Enhanced Value 50 Index Fund, the Company has further bolstered its range of investment solutions that are designed to make long-term wealth creation more accessible, enabling customers to be financially secure.

The BSE 500 Enhanced Value 50 Index Fund is available with some of the Company’s popular ULIP products such as ICICI Pru Signature Assure, ICICI Pru Smartkid Assure, ICICI Pru Smart Insurance Plan Plus (SIP+) amongst other ULIP products available on www.iciciprulife.com.

 
Tags : Index Funds