PNB MetLife India Insurance Company Limited (PNB MetLife) has introduced the PNB MetLife Nifty 500 Momentum 50 Index Fund, a new addition to its Unit-Linked Insurance Plans (ULIPs) portfolio.
According to the press release, this fund, launched on February 18, aims to help policyholders leverage market momentum by tracking the top 50 high-momentum stocks from the Nifty 500 Index, offering a strategic approach to long-term wealth creation alongside life cover.
The subscription period for the fund runs from February 15 to February 28, 2025, with units available at an initial price of Rs 10 each. It can be accessed through popular PNB MetLife ULIP plans, including Smart Platinum Plus, TULIP, Goal Ensuring Multiplier, and Mera Wealth Plan.
For policies issued after February 28, the prevailing Net Asset Value (NAV) on the issuance date will apply.
The fund target market-linked returns by focusing on companies that have shown strong price performance over the past 6 to 12 months, with semi-annual rebalancing to adapt to market trends, the release said.
It provides diversified exposure across large-cap, mid-cap, and small-cap segments, with the benchmark index currently comprising approximately 35 percent large-cap, 50 percent mid-cap, and 15 percent small-cap stocks as of December 2024, the release added.
"The PNB MetLife Nifty 500 Momentum 50 Index Fund is designed for customers looking for a disciplined and transparent strategy to capitalise on market trends. By focusing on stocks with sustained momentum, it offers a robust avenue for long-term wealth creation," said Sanjay Kumar, Chief Investment Officer at PNB MetLife.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
