ICICI Prudential Mid-Small Cap 400 Index Fund

The ICICI Prudential Life Insurance is launching its New Fund Offer (NFO), the ICICI Pru Mid-Small Cap 400 Index Fund NFO, from 1st May to 15th May 2024. This fund tracks the Nifty Mid-Small-Cap 400 Index, a collection of 400 mid-cap and small-cap companies in India. You can invest in the ICICI Pru Mid-small-cap Index Fund through various investment plans, including ICICI Pru Signature Plan, ICICI Pru Smart Kid Plan and ICICI Ezy Grow – Whole Life Plan.

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About ICICI Pru Mid-Small Cap 400 Index Fund

ICICI Prudential Mid-Small Cap 400 Index Fund is a market-linked fund that focuses on tracking the performance of the Nifty 400 Mid-Smallcap Index. It offers you an opportunity to invest in a diverse range of mid-cap and small-cap stocks. These companies are smaller than large corporations but have significant growth potential. 

The fund aims to mirror the Nifty 400 Mid-Smallcap Index's returns, making it a cost-effective way to gain exposure to these dynamic segments of the stock market. 

By investing in this fund, you get a piece of the action from smaller companies that could be tomorrow's leaders, with a balanced mix of risk and reward.

Overview of ICICI Pru Mid-Small Cap 400 Index Fund

The key information about ICICI Pru Life Mid-Small Cap Index Fund NFO is mentioned below:

Parameters Details
Investment Objective To match the performance of the Nifty Mid-Small Cap 400 Index, offering exposure to a diverse range of mid-cap and small-cap Indian equities. The fund seeks to mirror the index's returns by investing in various sectors and industries.
Benchmark Index NIFTY Mid Small Cap 400 Index
Risk Profile High
NFO Launch Date 1st- 15th May 2024
Minimum Premium Amount Rs. 2,000 per month (with ICICI Pru Ezy Grow - Whole Life Plan)
NAV on NFO Launch ₹10

reasons-to-invest-in-iprureasons-to-invest-in-ipru

Why Invest in ICICI Pru Mid-Small Cap 400 Index Fund NFO?

  • Exclusive Midsmall 400 Fund: ICICI Pru Life Insurance is the only financial company offering the Midsmallcap 400 Index Fund, investing in 400 midcap and smallcap stocks.

  • Invest in 400 Midcap and Smallcap Companies: Gain exposure to a wide range of 400 companies without fund manager bias.

  • Impressive Wealth Growth: An investment of ₹1 lakh in 2014 would be worth ₹8.6 lakh in 2024—an 8.6x increase in ten years.

  • Affordable Entry Point: The NAV of ICICI Prudential Mid-Small 400 Index Fund is ₹10, offering a low-cost opportunity to invest and maximize gains.

  • Semi-Annual Rebalancing: The ICICI Prudential Mid-Small 400 Index Fund rebalances in January and July, keeping it in line with market trends and reducing risk.

  • Proven Returns: The ICICI Mid-Small Cap 400 Index Fund has delivered a strong 10-year return of 24%+++.

  • Trustworthy ICICI Prudential: ICICI Prudential holds Assets Under Management (AUM) of 2.94 lakh crore, demonstrating trust and stability.

  • ULIP Products with Low Costs: ICICI Pru Signature ULIP has zero premium allocation charges and offers premium allocation and mortality charge returns with added flexibility for families.

  • Entry-Level Pricing: Start investing with ICICI Prudential Life Ezy Grow -Whole Life Retirement Plan beginning at Rs. 2,000, providing an accessible entry point.

+++Returns as on 30/04/2024.
*Data Source-https://www.niftyindices.com/reports/historical-data

midcap-and-smallcapmidcap-and-smallcap

Benefits of Investing in an ICICI Pru Mid - Small Cap 400 Index Fund

Some potential benefits of investing in ICICI Pru Mid - Small Cap 400 Index Fund NFO are as follows:

benefits-of-midsmall-fundbenefits-of-midsmall-fund
  1. Broader Diversification

    Investing in a Mid-Small Cap 400 Index Fund gives you exposure to a diverse mix of medium and small companies. This reduces risk by spreading investments across various industries and sectors.

  2. Greater Growth Potential

    Mid-cap and small-cap companies tend to grow faster than large-cap companies. By investing in this fund, you're positioning yourself to benefit from the higher growth rates that these companies often experience.

  3. Hassle-Free Investing

    With a Mid-Small Cap 400 Index Fund, there's no need to worry about selecting individual stocks or timing the market. This passive investment strategy simply tracks the index, allowing you to invest without the stress and complexity of active trading.

  4. Deductions on Premium Payments:

    You can claim a deduction for the annual premiums you pay towards the investment plans offered by ICICI Pru Life Insurance under Section 80C. This deduction can help reduce your taxable income by up to ₹ 1.5 lakhs per financial year. 

  5. Tax Benefits on Payouts:

    The maturity benefits from the different ICICI Pru investment plans are tax-free under Section 10(10D) of the Income Tax Act. 

Index Funds vs. Actively Managed Funds

Let us understand the key differences between active and passive funds:

Parameter Index Fund (Passive Fund) Actively Managed Fund
Performance Mimics the Benchmark It may or may not beat the benchmark
Risk Profile No Added Risk Might have risks depending on the performance
Stock Picking Copies the Benchmark May have more concentrated positions
Underperforming to the Market No Yes
Bias Investing No Yes

ICICI Prudential Midcap 150 Index Fund, Max Life Midcap Momentum Index Fund, and Bajaj Allianz Life Midcap Index Fund NFO are some examples of an index fund.

What is the Mid-Small 400 Index?

The Nifty Mid Small Cap 400 Index is a stock market index that tracks the performance of mid-sized and small companies listed on the National Stock Exchange of India (NSE). It essentially combines two other Nifty indices:

  • Nifty Midcap 150: This tracks the 150 largest mid-cap companies.

  • Nifty Smallcap 250: This tracks the 250 largest small-cap companies.

By combining these two indices, the Nifty MidSmallcap 400 offers a broader perspective on the performance of this segment of the Indian stock market. 

About ICICI Prudential Life Insurance

ICICI Prudential Life Insurance is a joint venture between ICICI Bank and Prudential Corporation Holdings. It is one of the leading private life insurance companies in India. The company offers a wide range of life insurance products, ULIPs, child plans, retirement plans, and group insurance plans. 

Prudential Private Limited Company operates across 23 markets in Asia and Africa and provides life and health insurance, along with asset management services. 

ICICI Pru Savings Plans to Invest in New ICICI Prudential Life Mid Small Cap Index Fund NFO

You can invest in various investment plans offered by ICICI Pru Life Insurance:

Plan Type Growth Plans Child Plans Retirement Plans
Plan Name ICICI Pru Life Signature Plan ICICI Pru Signature- Waiver of Premium Plan (WOP)* ICICI Pru Smart Kid Plan ICICI Pru Ezy Grow – Whole Life Plan ICICI Pru Signature – Whole Life Plan
Minimum Premium ₹2,500 ₹2,700  ₹3,800 ₹2000 to ₹4,999 ₹5,000

* ICICI Pru Signature- WOP: Child Age + PPT should not be greater than 18 Years
** ICICI Pru Ezy Grow- Whole Life Plan: Available from ₹2,000 to ₹4,999. Post this investment, the plan switches to ICICI Pru Signature Plan.

Performance of Nifty Mid-Small Cap 400 Index vs Other Indices 

The following table shows the past performance of the Nifty Mid – Small Cap 400 Index in comparison to other major indices: 

As on 29th April 2024 3-Year Returns 5-Year Returns 10-Year Returns
Nifty MidSmall Cap 400 28.70% 28.00% 24.20%
Nifty MidCap 150 27.20% 23.00% 20.50%
Nifty Small Cap 250 27.40% 22.30% 18.20%
Nifty 50 15.20% 13.80% 12.70%
Nifty 500 18.70% 16.10% 14.50%

[Source: nseindia.com]

Constituent Stocks of Nifty Mid-Small Cap 400 Index (Weightage)

The top 10 stocks held under the Nifty Mid Small Cap 400 Index as of 29th April 2024 are as follows:

industry-brandindustry-brand

 [Source: nseindia.com]

Top 10 Sectors of Nifty Mid-Small Cap 400 Index by Weightage

The sectoral representation of the Nifty Mid – Smallcap 400 Index as of 29 April 2024, by weightage:

Sector Weightage (%)
Financial Services 20.34
Capital Goods  14.29
Healthcare 10.89
Automobile and Auto Components 7.03
Information Technology 6.61
Chemicals 6.19
Consumer Services  4.09
Consumer Durables  4.01
Realty  3.44
Oil, Gas & Consumable Fuels 3.30

[Source: nseindia.com]

How to Buy ICICI Pru Life Mid-Small Cap 400 Index Fund NFO from Policybazaar?

Follow the steps mentioned below to purchase the Save ‘N’ Grow Plan for investing in ICICI Pru Life Midcap Index Fund NFO:

Step 1: Enter Your Name and Contact Information

Fill in your name and contact number in the form on this page to get started.

Note: Your details are kept confidential and will only be used to customise your benefits.

Step 2: Provide Key Details

Add additional information, including your city, age, and income, to help us customize your options.

Step 3: Explore Available Plans

Review the available ICICI Pru Investment Plans. Consider factors like performance, ratings, and other relevant criteria to find the best fit for you.

Step 4: Select Your Preferred Plan

Check the details of the plan carefully and click on “Proceed” by following the prompts displayed on the screen to finalize your purchase.

Opt from the following ICICI Prudential Life Insurance Plans to take advantage of the ICICI Pru Mid Small Cap Index Fund:

  • ICICI Pru Life Signature Plan

  • ICICI Pru Life Capital Guarantee Solution

  • ICICI Pru Life Signature- Waiver of Premium Plan

  • ICICI Pru Smart Kid Child Plan

  • ICICI Pru Ezy Grow- Whole Life Retirement Plan

  • ICICI Pru Signature- Whole Life Retirement Plan

Step 5: Click "Invest Now"

Once you have made your selection, click the "Invest Now" button and follow the instructions to complete your investment.

Step 6: Complete KYC and Payment

Provide the necessary Know Your Customer (KYC) details and complete your payment process.

Step 7: Receive Confirmation

After a successful payment, you will receive confirmation of your purchase.

FAQs on ICICI Prudential Mid-Small Cap Index Fund

  • Which ICICI Prudential Plans offer the ICICI Prudential Mid-Small Cap Index Fund?

    Several ICICI Prudential Life Insurance plans allow you to invest in the ICICI Prudential Mid-Small Cap Index Fund NFO; some of them are:
    • ICICI Pru Signature Plan

    • ICICI Pru Capital Guarantee Solution

    • ICICI Pru Signature- Waiver of Premium Plan (WOP)

    • ICICI Pru Smart Kid Plan

    • ICICI Pru Ezy Grow – Whole Life Plan

    • ICICI Pru Signature – Whole Life Plan

  • What is the NAV of ICICI Prudential Mid-Small Cap Index Fund NFO?

    The initial NAV (Net Asset Value) of the ICICI Prudential Mid-Small Cap Index Fund NFO is ₹ 10 per unit as of 1st - 15th May 2024.
  • Who should invest in the ICICI Prudential Mid-Small Cap Index Fund?

    Since the fund invests in mid-cap and small-cap companies, it inherently carries a higher risk profile compared to large-cap funds. Therefore, it might be suitable for investors with a higher risk tolerance and a longer investment horizon for potentially higher returns.
  • How does the ICICI Prudential Mid-Small Cap Index Fund benchmark its performance?

    The ICICI Prudential Mid-Small Cap Index Fund benchmarks its performance against the Nifty Mid-Smallcap 400 Index. This means the fund aims to replicate the returns of this index by investing in the same underlying companies in the same proportion.
  • What are the tax implications under the ICICI Prudential Mid-Small Cap Index Fund?

    The investment plans offered by ICICI Pru Life Insurance might qualify for tax benefits under Sections 80C and Section 10(10D) of the Income Tax Act.
  • Why invest in mid-small-cap funds?

    The key reasons to invest in mid-small cap index fund are as follows:

    High growth potential: Mid-cap and small-cap companies tend to grow faster than large-cap companies, offering the chance for higher returns.

    Diversification: By including mid-cap and small-cap companies, you can potentially diversify your portfolio beyond large-cap stocks and reduce overall risk.

  • How do I choose a mid-small-cap mutual fund?

    You should consider your risk tolerance, investment goals, and investment horizon when selecting a mid-small-cap mutual fund.
  • What are the available ICICI Prudential Index Funds?

    The recently launched ICICI Pru Life index fund is the ICICI Pru Midcap 150 Index Fund.
  • Are there any tax benefits in ICICI Prudential Mid-Small Cap Mutual Funds?

    The mid-small cap mutual funds offered by the ICICI Prudential Life Insurance do not offer specific tax incentives like those provided by tax-saving mutual funds such as Equity Linked Savings Schemes (ELSS).
  • Is ICICI Prudential Mid-Small Cap Index Fund right for me?

    You should consider your investment goals, risk tolerance, and investment horizon to decide if the ICICI Prudential Mid-Small Cap Index Fund aligns with your financial needs.

*Past 5 Year annualised returns as on 01-05-2024
*All savings plans are provided by the insurer as per the IRDAI approved insurance plan. Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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