ICICI Prudential MF launches its large midcap index fund

ICICI Prudential Mutual Fund has launched ICICI Prudential Nifty LargeMidcap 250 Index Fund.

The fund aims to invest in the constituents of the Nifty LargeMidcap 250 Index. This index represents all companies from Nifty 100 and Nifty Midcap 150 universe. It is re-balanced on a semi-annual basis and the aggregate weightage of large cap stocks and mid cap stocks is maintained at 50% each. Any reset if required is done on a quarterly basis.

In the press release, Chintan Haria, Principal Investment Strategy, ICICI Prudential said, “The fund provides an excellent opportunity to leverage on the stability provided by large caps and the growth potential offered by midcaps at a low cost. The index offers investors a more diverse and balanced sector allocation as compared to large cap and midcap individually. Investors may consider this offering as a part of their equity allocation and use the systematic investment route to achieve their long-term goals.”