Max Life launches Nifty 500 Momentum 50 Index Fund in ULIP Segment

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 Normalised Momentum Scores

Max Life Insurance Company has expanded its Unit Linked Insurance Plan (ULIP) offerings with the introduction of the Nifty 500 Momentum 50 Index Fund. This new fund gives an opportunity for ULIP investors to access the Nifty 500 Momentum 50 Index, combining flexicap and momentum investing strategies.

 

The New Fund Offer (NFO) is available until September 1, with units priced at ~10 during this limited period. This launch follows Max Life’s earlier introduction of the Mid Cap Momentum Index Fund in January 2024.

 

The Nifty 500 Momentum 50 Index Fund will track the performance of the top 50 companies within the Nifty 500 index, selected based on their Normalised Momentum Scores. As of June 2024, the benchmark index comprised 60 per cent large-cap, 27 per cent mid-cap, and 13 per cent small-cap stocks, offering a diversified approach to wealth creation.

 

“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,” said Sachin Bajaj, Chief Investment Officer at Max Life Insurance.

 

The fund aims to capitalise on ongoing price trends through a ‘buy high, sell higher’ approach, potentially offering higher returns compared to traditional index investing. It is designed for customers seeking medium to long-term wealth creation opportunities while also benefiting from the financial security provided by life insurance coverage.

 

Initially, the Nifty 500 Momentum 50 Fund will be available through various ULIP products, including the Online Savings Plan, Shikhsha Plus Super, Flexi Wealth Advantage Plan, and capital guarantee solutions. After the NFO period, it will also be offered with Max Life's Platinum Wealth Plan, Fast Track Super, Flexi Wealth Plus, and Smart Flexi Protect Solution.

 

This latest offering from Max Life Insurance reflects the company’s ongoing efforts to provide innovative investment solutions that align with evolving customer preferences and financial goals in the Indian insurance market, the company said in a press release.