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ICICI Prudential Mutual Fund has launched ICICI Prudential Nifty Top 15 Equal Weight ETF and ICICI Prudential Nifty Top 15 Equal Weight Index Fund.
These schemes will replicate the Nifty Top 15 Equal Weight Index, which offers exposure to a curated list of India’s top 15 companies by free-float market capitalization.
The fund house, in a press release, said that the equal weightage of the top 15 companies ensures diversified participation in India's growth story, providing balanced exposure across key sectors and reducing the dominance of any single company or industry.
Abhijit Shah, Chief Marketing and Digital Business Officer at ICICI Prudential AMC said, “These offerings allow the investors to gain access to India’s top large caps that are often leaders of their industry, through a simple and cost-effective structure. The equal-weighted approach ensures balanced exposure and helps reduce reliance on a few dominant stocks. This is particularly useful for long-term investors seeking consistency and diversification."
