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ICICI Prudential Mutual Fund has launched ICICI Prudential Nifty SDL Sep 2026 Index Fund, a target maturity index fund. Target maturity index funds are open-ended passively managed funds that replicate the underlying debt index having a specific maturity date.
ICICI Prudential Nifty SDL Sep 2026 Index Fund invests in the constituents of Nifty SDL Sep 2026 Index and aims to provide returns that correspond to the total return of the underlying index. State Development Loans (SDLs) are bonds that are issued by the state governments to manage their state finances and fund their fiscal deficit. SDLs are similar to government securities (g-sec).
In a press release, Chintan Haria, Head - Product Development and Strategy, ICICI Prudential MF said, " 15 states/UTs are selected based on the highest composite score based on outstanding amount score and liquidity score calculated as on September 30, 2022 for SDLs maturing during the six-month period ending September 30, 2026.”
