Max Life Insurance
Max Life Insurance introduces ‘Max Life NIFTY Smallcap Quality Index Fund’
New Delhi: : Max Life Insurance Company Ltd has launched the ‘NIFTY Smallcap Quality Index Fund’ in the ULIP segment. This first Smallcap Index Fund of the Life Insurance industry is based on the NIFTY Smallcap 250 Quality 50 Index that has delivered 22% 10-year CAGR+.
It is designed to provide investors with an opportunity to capitalize on the growth potential of Smallcap companies, aiming for long-term index-linked returns.
The New Fund Offer (NFO) window will remain open till Aug 25, at Rs. 10 per unit, applicable only during the NFO period.
Mihir Vora, Senior Director and Chief Investment Officer, Max Life said, "We are launching our first-ever Smallcap Index Fund to offer investors a low-cost value proposition. The Fund provides an excellent opportunity to participate in the India growth story by investing in quality companies in diverse sectors with a high growth potential. Over the past years, the small-cap and mid-cap indices have given stellar returns. This Fund is suited for investors with high-risk tolerance looking to generate good returns over the long term. We are launching the Fund at a time when the Indian economy expects to do well over the coming years, and investors can take part in the growth of manufacturing, infrastructure, consumption, financials, and new-tech space.”
A unique proposition of lower Fund Management Charges (FMC) makes this Index Fund a valuable investment avenue for millennial investors.
The Fund will be available with the leading product – Online Savings Plan with zero allocation and admin charges, along with the Platinum Wealth Plan available with guaranteed wealth boosters and additions during the NFO period.
The Fund will also be available with some other ULIP products. Closely tracking the total returns of the NIFTY Smallcap 250 Quality 50 Index subject to investment norms stipulated by IRDAI, this new Fund is expected to generate similar returns as of the benchmark returns.
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