Axis Max Life Insurance has floated an NFO (New Fund Offer) of Axis Max Life Sustainable Wealth 50 Index Fund. A significant point is that this fund is based on a customised index that is known as Sustainable Yield Index. According to recent data, more than 70 NFOs for equity-oriented funds were floated in the country in 2024.
The Axis Max Life Sustainable Wealth 50 Index Fund will put its money in a basket of 50 top-performing stocks. These shares will be based on an equal weighted factor-based quantitative index. This index has been designed to pick top-performing stocks from Nifty 500. The basis of selection will be on Free Cash Flow Yield for non-financial companies and Dividend Yield for financial companies. It is the first proprietary index fund in the insurance industry, the company has stated.
Minimum investment in this fund
The minimum investment in Axis Max Life Sustainable Wealth 50 Index Fund is Rs 100. It will invest 80% to 100% of its money into equities and 0% to 20% in cash and money market instruments. According to the product information, the fund will be available through Axis Max Life’s Online ULIP products. It will also be available through the Online Savings Plan and Flexi Wealth Advantage Plan. Additional products will be later available too.
“The launch of the Axis Max Life Sustainable Wealth 50 Index Fund, reaffirms our commitment to providing value-driven investment options that address evolving market dynamics and investor priorities. This fund leverages the power of a unique, factor-based index that identifies companies with robust cash flows based on our internal methodology. We believe this fund will be a valuable addition to our portfolio and strengthens our position as one of India’s leading life insurance companies,” said Sachin Bajaj, EVP and Chief Investment Officer, Axis Max Life.
“We have worked with Axis Max Life Insurance to create this customised index based on Axis Max Life Insurance’ methodology. The Customised Index will be computed and maintained by NSE Indices Limited,” said Mukesh Agarwal, CEO, NSE Indices.
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Axis Max Life Sustainable Wealth 50 Index Fund NFO has been launched by Axis Max Life Insurance. It has opened on January 2 and will remain open till January 16. The minimum investment in this fund is Rs 100. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
