ICICI Life unveils new index fund

Hyderabad: ICICI Life Insurance has launched the ICICI Life BSE 500 Momentum Quality 50 Index Fund, a new equity investment option available with most of their unit-linked insurance plans (ULIPs). The fund is designed to help investors generate superior long-term returns by investing in a diversified portfolio of 50 stocks from the BSE 500 that score well on a combination of two factors - Momentum and Quality. It offers investors an opportunity to invest in companies with strong financials and positive share price trends.

Manish Kumar, Chief Investment Officer, ICICI Life Insurance, said: “ICICI Life BSE 500 Momentum Quality 50 Index Fund offers investors an effective way to build long-term wealth by tracking companies with high-quality businesses, strong earnings visibility and steady share-price momentum.

Importantly, investors will get exposure to a portfolio of companies with healthy financials which is determined based on metrics/ratios such as Return on Equity, Debt to Equity and Earnings per Share and whose stock price has seen a good growth over the past 12 months.”

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The Hans India