Max Life Insurance Company Ltd. (“Max Life”/”Company”) has launched the ‘NIFTY Smallcap Quality Index Fund’ (SFIN:ULIF02702/08/23NIFTYSMALL104) 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 25th August 2023, 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*.
Max Lifes equity investment strategy embraces the growing interest in the small-cap category, recognizing its potential for higher growth prospects for India and these companies.
About Max Life Insurance : Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of Max Group. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners. Max Life has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY 2022-23, Max Life has achieved a gross written premium of INR 25,342 Cr.
These are returns of benchmark index as on 24th July, 2023, and are not indicative returns of Max Life Insurance’s newly launched NIFTY Smallcap Quality Index Fund (SFIN: ULIF02702/08/23NIFTYSMALL104). Illustratively, Rs. 1 Lac invested in the index in 2013 would have become Rs. 7.3 Lac in 2023. * However, basis due expenses, portfolio deviations (because of timing of investments/flows), the returns of fund and benchmark may differ. The premium shall be adjusted on the due date even if it has been received in advance.
THE UNIT LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN UNIT LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.
Unit Linked Insurance Products (ULIPS) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
Max Life Insurance Company Limited is only the name of the insurance company and Max Life Platinum Wealth Plan is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. The premiums & funds are subject to certain charges related to the fund or to the premium paid. Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed/assured returns.