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.
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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.