ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Nifty50 Equal Weight Index Fund. The scheme will invest in the constituents of the Nifty50 Equal Weight Index. *The NFO opens on September 14, 2022, and closes on September 28, 2022.*
Highlights:
• ICICI Prudential Nifty 50 Equal Weight Index Fund invests in constituents of Nifty50 Equal Weight Index
• As compared to the Nifty 50 index, an equal weight index is less concentrated in terms of the top 5 sectors
• An equal weight index has empirically higher dividend yield as compared to a market capitalization weighted index as it allocates funds equally to its components
• Nifty50 Equal Weight Index has grown at 14.15% annually since the beginning of 2005
Nifty50 Equal Weight Index has grown at 14.15% annually since the beginning of 2005. Nifty50 Equal Weight Index has outperformed the Nifty 50 Index in 5 out of the last 10 calendar years.
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