The New Fund Offer or NFO is open for subscription and will close on September 1 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, flexicap and dynamic investing, and would be the second fund based on the dynamic investment strategy in Max Life’s portfolio of funds, following the Midcap Momentum Index Fund launched on January 24, according to a press release.
It aims to capitalise on the growing interest in flexicap funds, which realign market fundamentals, protecting investors from the cyclical performance of market-cap schemes. 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 clients inter alia Seeking medium to long-term wealth creation opportunities. The fund’s “buy high, sell higher” approach aims to capture ongoing price trends, potentially offering higher returns compared to traditional index investing. “As investment preferences shift towards more dynamic strategies, we are proud to introduce the Max Life Nifty 500 Momentum 50 Index Fund. Employing a momentum investment strategy, the fund is designed to cater to modern clients’ quest for high growth potential in India’s top 500 companies. At Max Life, we remain committed to providing innovative and robust solutions that align with our clients’ evolving financial goals,” said Sachin Bajaj, Chief Investment Officer, Max Life Insurance. Along with wealth creation opportunities, the life insurance component provides financial security, protecting against unforeseen events and ensuring peace of mind, the press release said.
The fund will be available through various ULIP products, which initially include the Online Savings Plan, Shikhsha Plus Super, Flexi Wealth Advantage Plan and Capital Guarantee Solutions. Post 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 wide availability across different customer segments.
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