ICICI Prudential Mutual Fund has introduced ICICI Prudential Nifty SDL Sep 2026 Index Fund, a target maturity index fund, in the market.
Target Maturity Index Funds are open-ended, passively-managed funds that replicate the underlying debt index having a specific maturity date. The constituents of the index are generally hold-till-maturity.
ICICI Prudential Nifty SDL Sep 2026 Index Fund will invest in the constituents of Nifty SDL Sep 2026 Index and will aim to provide returns that correspond to the total return of the underlying index, subject to tracking errors, the entity said.
Chintan Haria, Head – Product Development and Strategy, ICICI Prudential AMC said, “ In a rising interest rate scenario, investors looking for fixed duration returns within a specific maturity bucket can consider investing in Target Maturity Index Funds.
“[As many as] 15 states/UTs are selected based on the highest composite score based on outstanding amount score and liquidity score calculated as on September 30, 2022 for SDLs maturing during the six-month period ending September 30, 2026,” he said.
