India, March 28 -- ICICI Prudential Life Insurance has launched the ICICI Prudential Life Smallcap 250 Index Fund under its Unit Linked Insurance Plans (ULIPs). The fund enables customers to participate in a broad basket of emerging listed companies and build wealth over the long term through a disciplined, index-based approach.

The fund tracks the Nifty Smallcap 250 Index, which comprises 250 companies ranked 251st to 500th in the Nifty 500 universe. However, regulations may prevent the company from investing in all index constituents in line with their weights from time to time, potentially resulting in tracking error.

This fund provides exposure to an array of smaller listed businesses at the early stages of their growth journey, wit...