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Axis Max Life Insurance Ltd, formerly known as Max Life Insurance Company Ltd, has announced the launch of Axis Max Life Sustainable Wealth 50 Index Fund. This customised Index Fund, computed and maintained by NSE Indices Limited, aims to invest in cash flow-generating companies to fuel their growth.
Fund highlights
Fund objective: The Axis Max Life Sustainable Wealth 50 Index Fund invests in 50 top-performing stocks. These are selected using a proprietary, equal-weight, factor-based quantitative index. Stocks are identified from the NSE 500 universe based on free cash flow yield (FCF Yield) for non-financial companies and dividend yield for financial companies.
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Asset allocation: The fund maintains a strategic asset allocation of 80-100 per cent in equity and 0-20 per cent in cash and money market instruments.
“This fund leverages the power of a unique, factor-based index that identifies companies with robust cash flows based on our internal methodology," said Sachin Bajaj, EVP and Chief Investment Officer at Axis Max Life.
Mukesh Agarwal, CEO of NSE Indices Limited, added, "We have worked with Axis Max Life Insurance to create this customised index based on Axis Max Life Insurance's methodology."
“As the first proprietary index fund in the insurance industry, the Axis Max Life Sustainable Wealth 50 Index Fund offers exclusive access to a quantitative, factor-based index. It aligns with growing investor demand for sustainable and value-driven investments. By focusing on companies with strong cash flows and consistent growth potential, the fund caters to customers seeking stability and performance,” the company said in a press release.
Currently, the fund is available through Axis Max Life's Online ULIP products, including the Online Savings Plan and Flexi Wealth Advantage Plan. It will be extended to additional products in the future.
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