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ICICI Life unveils new index fund
In Short
ICICI Prudential Life Insurance launches the BSE 500 Momentum Quality 50 Index Fund for ULIPs, combining quality financials with price momentum for long-term growth.
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ICICI Life unveils new index fund
Hyderabad: ICICI Life Insurance has launched the ICICI Life BSE 500 Momentum Quality 50 Index Fund, a new equity investment option available with most of their unit-linked insurance plans (ULIPs). The fund is designed to help investors generate superior long-term returns by investing in a diversified portfolio of 50 stocks from the BSE 500 that score well on a combination of two factors - Momentum and Quality. It offers investors an opportunity to invest in companies with strong financials and positive share price trends.
Manish Kumar, Chief Investment Officer, ICICI Life Insurance, said: “ICICI Life BSE 500 Momentum Quality 50 Index Fund offers investors an effective way to build long-term wealth by tracking companies with high-quality businesses, strong earnings visibility and steady share-price momentum.
Importantly, investors will get exposure to a portfolio of companies with healthy financials which is determined based on metrics/ratios such as Return on Equity, Debt to Equity and Earnings per Share and whose stock price has seen a good growth over the past 12 months.”
