ICICI Prudential Life Expands ULIP Options with New Value-Focused Index Fund

ICICI Prudential Life Insurance Company Limited has expanded its ULIP investment basket with the launch of a new equity-oriented index fund focused on value investing strategies across large- and mid-cap companies. 

New Fund Based on Value Investing Approach 

The insurer launched the ICICI Prudential Life BSE Enhanced Value 30 Index Fund, which will invest in companies selected on the basis of valuation-linked financial parameters. 

The underlying benchmark includes 30 stocks chosen from the broader BSE LargeMidCap universe using metrics linked to earnings, sales, and book value relative to stock prices. 

Designed As a Passive Investment Option 

The company stated that the fund follows an index-based investment structure aimed at closely replicating the benchmark portfolio through a systematic and rules-driven strategy. 

The benchmark portfolio is reviewed periodically and rebalanced twice annually to maintain diversification and alignment with valuation criteria. 

The framework also includes restrictions on stock-level and sector-level concentration to reduce excessive exposure risks. 

Focus on Long-Term Wealth Creation 

According to the insurer, the fund is intended for investors looking to participate in long-term equity growth opportunities through fundamentally valued businesses across sectors. 

The strategy combines disciplined stock selection with diversification across different market capitalisation categories. 

Management Highlights Strategy Framework 

Chief Investment Officer Manish Kumar said the investment approach is centred around identifying relatively undervalued businesses while maintaining balanced exposure through periodic portfolio review and rebalancing. 

Strong Historical Performance of Underlying Index 

The company stated that the benchmark index has delivered strong historical returns over different time horizons. 

As of March 2026, the index generated annualised returns of 32% over three years, 28.9% over five years, and 19.4% over ten years, according to data shared by the insurer. 

The newly launched fund will be available through selected ULIP offerings including ICICI Pru Signature Assure, SmartKid Assure linked products, and Smart Insurance Plan Plus. 

Read More: NFO Alert: Kotak International Introduces Kotak Indo-Pacific Defence UCITS ETF! 

Conclusion 

The launch reflects ICICI Prudential Life’s continued focus on expanding passive and value-oriented investment options within its ULIP product portfolio for long-term investors. 

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.    

Mutual Fund Investments are subject to market risks, read all the related documents carefully before investing.