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

Max Life Insurance has launched the Nifty 500 Momentum 50 Index Fund within its ULIP segment. Open until September 2024 at Rs. 10 per unit, this fund tracks the Nifty 500 Momentum 50 Index. The fund aims to provide wealth creation opportunities by leveraging a momentum investing strategy.

Max Life Insurance Company Ltd. has introduced a new financial product, the Nifty 500 Momentum 50 Index Fund, under its Unit Linked Insurance Plan (ULIP) segment. The New Fund Offer (NFO) window is open until September 1, 2024, with units priced at Rs. 10 during this period.

This fund tracks the Nifty 500 Momentum 50 Index, which includes the top 50 companies from the Nifty 500 index, selected based on their Normalized Momentum Scores. By integrating flexicap and momentum investing strategies, the fund aims to capitalize on market movement and offer robust wealth creation opportunities.

Sachin Bajaj, Chief Investment Officer at Max Life Insurance, stated, ''As investment preferences shift towards more dynamic strategies, the Nifty 500 Momentum 50 Index Fund offers high growth potential across India's top 500 companies. We are committed to delivering innovative financial solutions that align with our customers' evolving financial goals.''

(With inputs from agencies.)