ICICI Pru Sector Leaders Index Fund launched

ICICI Prudential Life Insurance Company Ltd has announced the launch of the ICICI Pru Sector Leaders Index Fund, a new offering under its suite of Unit Linked Insurance Plans (ULIPs). The fund aims to provide investors with a ready-made equity portfolio by giving exposure to leading companies across more than 20 key sectors of the Indian economy.

Designed for investors seeking a rule-based approach to equity investing, the new fund offers participation in market-leading firms without the need to pick individual stocks. It targets investors preferring a passive strategy and looking to build long-term, core equity exposure with wide sectoral diversification and a bias towards established market leaders.

The ICICI Pru Sector Leaders Index Fund is a passive, index-linked product that tracks the BSE India Sector Leaders Index. The fund will invest 95–100 per cent of its assets in equities included in the index, with up to 5 per cent allocation in debt and money market instruments to meet regulatory liquidity requirements. Dividends received will be reinvested to enhance long-term fund value.

The minimum investment is Rs1,000, with subsequent top-ups permitted as per ULIP terms.The launch aligns with the company’s silver jubilee milestone and marks its latest addition in the passive investing space. Commenting on the launch, Manish Kumar, Chief Investment Officer, ICICI Prudential Life Insurance, said the new fund “offers investors a simple and effective way to build wealth by leveraging India’s long-term growth potential.”

He added that the fund “brings together proven market leaders from over 20 sectors in a single, rule-based portfolio” and removes the complexity of stock selection while providing diversified exposure to the country’s most influential businesses.