Get latest articles and stories on Business at LatestLY. New Delhi [India], January 18: Max Life Insurance CompanyLtd. ("Max Life"/ "Company") has introduced the 'Midcap Momentum Index Fund' (SFIN: ULIF02801/01/24MIDMOMENTM104) in the ULIP segment. The new fund offering is structured around the Nifty Midcap 150 Momentum 50 Index, which has displayed a noteworthy 28.7 per cent 5-year and 26.7 per cent 10 year CAGR returns (returns as on 31st Dec'23). Investors can participate in the new fund until January 29, 2024, at a unit price of Rs 10, applicable exclusively during this limited NFO period. Business News | Max Life Diversifies ULIP Range with an All-new Midcap Momentum Index Fund.
This NFO aligns with the surging trend of index funds in India which have witnessed 175% CAGR growth in asset under management (AUM) over the last three years (FY20-FY23), Max Life Insurance said.
Senior citizens who have accumulated hard-earned savings for use post-retirement are, unfortunately, the easiest targets for insurance companies, agents or even bank relationship managers (RM). Ideally, when an RM is assigned to you, they are meant to assist you in achieving your financial goals using their extensive knowledge about the products and services a bank offers. However, RMs, as expected, have their sales targets and hefty commissions to earn, so the advice they impart is always meant to be taken with a grain of salt.