The fund will track the ICICI PRU BSE Enhanced Value Index, which consists of 30 companies selected from the BSE LargeMidCap universe based on valuation metrics such as book value-to-price, earnings-to-price and sales-to-price ratios.
According to the insurer, the fund follows a passive investment strategy designed to mirror the underlying index through a rules-based and periodically rebalanced approach. The index is reviewed twice a year and includes limits on stock and sector exposure to maintain diversification.
The company said the fund is intended to provide long-term equity exposure through companies considered attractively valued relative to their fundamentals.
Manish Kumar, Chief Investment Officer at ICICI Prudential Life Insurance, said the strategy focuses on value-based stock selection, diversification across sectors and market capitalisation segments, and periodic portfolio review and rebalancing.
As of March 30, 2026, the ICICI PRU BSE Enhanced Value Index delivered annualised returns of 32% over three years, 28.9% over five years and 19.4% over ten years, according to data shared by the company.
The insurer said the fund will be available through selected ULIP products, including ICICI Pru Signature Assure, SmartKid Assure with ICICI Pru Signature Assure and ICICI Pru Smart Insurance Plan Plus (SIP+).
