New Delhi, August 20, 2024: Max Life Insurance Company Ltd. (“Max Life”/ “Company”) has introduced the Nifty 500 Momentum 50 Index Fund in the ULIP segment. The New Fund Offer (NFO) window will remain open till 1st September 2024, at Rs. 10 per unit, applicable only during the NFO period.
The fund will track the Nifty 500 Momentum 50 Index, which comprises the top 50 companies within the Nifty 500 index, selected based on their Normalized Momentum Scores. The proposed fund brings together two popular investment approaches of flexicap and momentum investing and would be the second fund based on momentum investing strategy in Max Life’s suite of funds, after the Midcap Momentum Index Fund launched in Jan’24. The fund aims to capitalize on the growing interest in flexicap funds, that re-adjust basis market movements, safeguarding investors from cyclical market capitalization scheme performance. As of June 2024, the benchmark index composition included 60% large-cap, 27% mid-cap, and 13% small-cap stocks, reflecting a well-diversified approach to wealth creation.
The Nifty 500 Momentum 50 Fund is designed for customers inter-alia looking for wealth creation opportunities over the medium to long term. The fund’s “buy high, sell higher” approach aims to capture ongoing price trends, thereby potentially delivering higher returns compared to traditional index investing.
Sachin Bajaj, Chief Investment Officer, Max Life Insurance, commented, “As investment preferences shift towards more dynamic strategies, we are proud to present Max Life’s Nifty 500 Momentum 50 Index Fund. Employing a momentum investing strategy, the fund is designed to cater to the modern customers’ quest for high growth potential across India’s top 500 companies. At Max Life, we remain committed to deliver innovative and robust solutions that align with our customers’ evolving financial goals.”
Alongside wealth creation opportunities, the life insurance component provides financial security, safeguarding against unforeseen events and ensuring peace of mind.
The Nifty 500 Momentum 50 Fund will be available through various ULIP products, initially including the Online Savings Plan, Shikhsha Plus Super, Flexi Wealth Advantage Plan, and capital guarantee solutions*. After the NFO period, the fund will also be offered with Max Life’s Platinum Wealth Plan, Fast Track Super, Flexi Wealth Plus, and Smart Flexi Protect Solution, ensuring broad availability across different customer segments.