ICICI Prudential Nifty50 Equal Weight Index Fund Direct Growth

ICICI Prudential Nifty50 Equal Weight Index Fund Direct Growth is an equity fund. This fund was started on 3 October, 2022. The fund is managed by Nishit Patel. The fund could potentially beat inflation in the long-run.

1. ICICI Prudential Nifty50 Equal Weight Index Fund Direct Growth has ₹121 Cr worth of assets under management (AUM) as on Apr 2025 and is less than category average.
2. The fund has an expense ratio 0.4.
   

ICICI Prudential Nifty50 Equal Weight Index Fund Direct Growth has given a CAGR return of 19.69% since inception. Over the last 1 year the fund has given a CAGR return of 8.30%.

ICICI Prudential Nifty50 Equal Weight Index Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services, Consumer Cyclical, Basic Materials, Tech, Consumer Defensive, Health, Energy, Industrial, Utilities, Communication. Its top holdings are IndusInd Bank Ltd, Tata Consumer Products Ltd, Jio Financial Services Ltd, SBI Life Insurance Co Ltd, Eternal Ltd

As it is a index funds mutual fund the taxation is as follows:
For short term (less than a year) capital gains will be taxed at 20%
For long term (more than 1 year) capital gains will be taxed at 12.5% without indexation benefit
Dividends will always be taxed at slab rate. Long term gains upto Rs 1 lakh are exempt capital gains tax.

The objective of the Scheme is to invest in companies whose securities are included in Nifty50 Equal Weight Index and subject to tracking errors, to endeavor to achieve the returns of the above index. This would be done by investing in all the stocks comprising the Nifty50 Equal Weight Index in the same weightage that they represent in Nifty50 Equal Weight Index.

Minimum investment for lump sum payment is INR 5000.00 and for SIP is INR 1000.00. ICICI Prudential Nifty50 Equal Weight Index Fund Direct Growth has no lock in period.