- Investors can subscribe to the limited-time New Fund Offer (NFO) until January 29, 2024, at Rs. 10 per unit
- Enables investors to benefit from the immense growth potential of mid-cap stocks
New Delhi, January 16, 2024: Max Life Insurance Company Ltd. (“Max Life”/ “Company”) has introduced the ‘Midcap Momentum Index Fund’ (SFIN: ULIF02801/01/24MIDMOMENTM104) in the ULIP segment. The new fund offering is structured around the Nifty Midcap 150 Momentum 50 Index, which has displayed a noteworthy 28.7%* 5-year and 26.7%* 10 year CAGR returns (returns as on 31st Dec’23). Investors can participate in the new fund until January 29, 2024, at a unit price of Rs. 10, applicable exclusively during this limited NFO period.
This new fund offering aligns strategically with the surging trend of Index funds in India which have witnessed a staggering 175%**CAGR growth in AUM over the last 3 years (FY20-FY23). Specifically targeting the growth potential of mid-cap companies, the Midcap Momentum Fund aims to replicate the Nifty Midcap 150 Momentum 50 Index by investing in companies with similar weights as in the index and generate returns as closely as possible, subject to tracking error.
Apart from unlocking strategic investments in mid-cap space, Max Life’s Midcap Momentum Index Fund, will also enable investors to diversify their investment portfolios with a proven track record of good returns, capitalise on stock market momentum and steer clear of fund manager bias while also enjoying the added advantage of life cover.
Sachin Bajaj, Head-Investments, Max Life said, “Recognizing the evolving preferences of today’s investors, we are delighted to unveil our first-ever Midcap Momentum Index fund. This fund, with its distinctive momentum strategy, aligns with the expectations of modern consumers, and aims to harness the heightened growth potential within India’s midcap companies. This offering underscores our commitment to delivering excellence and value in the dynamic landscape of life insurance and investment.”
The Fund’s momentum strategy focuses on selecting winning stocks i.e. stocks that have performed better than the broader market/stocks basket in the recent past and are expected to continue on this winning streak in the foreseeable future, contributing to the fund’s unique approach.
During the launch period, the fund is available with the Max Life Online Savings Plan (UIN: 104L098V05) (OSP) with zero allocation and admin charges. It is also offered with Max Life Fast Track Super (UIN: 104L082V04), and capital guarantee solutions that offer OSP as the market-linked product. The fund will also be available with Max Life’s leading products such as Max Life Platinum Wealth Plan (UIN: 104L090V05), Max Life Flexi Wealth Plan (UIN: 104L115V02), Max Life Flexi Wealth Advantage Plan (UIN: 104L121V02), and Max Life Smart Flexi Protect Solution [a combination of Max Life Flexi Wealth Plus (UIN:104L115V02) and Max Life Critical Illness and Disability Secure Rider (UIN:104A034V01)] in the near future.
