ICICI Pru Nifty Top 15 Equal Weight Index Fund NFO review

ICICI Prudential Mutual Fund has launched another index fund — the ICICI Prudential Nifty Top 15 Equal Weight Index Fund, India’s first passive offering that will track the Nifty Top 15 Equal Weight Total Returns Index (TRI). The fund opened for subscription on June 10, 2025, and will close on June 24, 2025. Alongside the index fund, the AMC has also introduced an ETF (exchange-traded fund) available for subscription during the same window. ICICI Prudential Nifty Top 15 Equal Weight Index Fund NFO snapshot Fund name ICICI Prudential Nifty Top 15 Equal Weight Index Fund Fund type Open-ended index fund Tracking index Nifty Top 15 Equal Weight TRI Fund manager(s) Nishit Patel and Ashwini Shinde Exit load Nil Taxation If the units are sold within a year, gains will be taxed at 20 per cent. If the units are sold after one year, gains beyond Rs 1.25 lakh will be taxed at 12.5 per cent. About the index The Nifty Top 15 Equal Weight TRI aims to track the performance of the top 15 stocks selected from the Nifty 50, based on average free-float market capitalisation. Each stock has an equal weight of nearly 6.7 per cent in the index, which will be rebalanced semi-annually. Sectoral allocation Unlike the Nifty 50, which covers around 15 sectors, the Nifty Top 15 Equal Weight TRI is dominated by only seven sectors, indicating that it is concentrated (reliant on the performance of a handful of sectors). Below is a breakdown of its sectoral allocation (as of May 30, 2025). Financial Services: 40.1 per cent Automobiles: 13.7 per cent FMCG: 13.2 per cent Information Technology: 12.3 per cent Oil & Gas: 7.1 per cent Telecom