New Fund Introduction
PNB MetLife India Insurance Company Limited has launched the Bharat Manufacturing Fund, offering policyholders a chance to invest in India’s manufacturing sector. This fund is available as part of their Unit Linked Insurance Plan (ULIP) from August 1 to August 15 at an initial unit price of Rs 10.
Fund Features
A ULIP combines life insurance and investment, where a portion of the premium provides life insurance, and the remainder is invested in equity, debt instruments, or a combination of both, based on the policyholder’s risk appetite.
Accessibility
Investors can access the Bharat Manufacturing Fund through several existing PNB MetLife ULIPs, including the Goal Ensuring Multiplier, Smart Platinum Plus, and Mera Wealth Plan. These plans combine life insurance protection with flexible investment options and can be easily purchased online.
Market Insights
Sanjay Kumar, Chief Investment Officer at PNB MetLife, stated that the fund aligns customers’ financial aspirations with the growth of India’s manufacturing sector. The Nifty India Manufacturing Index has shown strong performance, delivering five-year annualized returns of 25.3% compared to 15.3% for the Nifty 50 as of June 30, 2024.
Investor Interest
PNB MetLife’s introduction of the Bharat Manufacturing Fund reflects growing investor interest in India’s industrial growth. As India aims to become a global manufacturing hub, this new fund offers retail investors an opportunity to benefit from this economic shift.
Regulatory Note
The NAV of Rs 10 applies to proposals received and issued between August 1-15, 2024, with prevailing NAV rates for policies issued after August 16. The Insurance Regulatory and Development Authority of India has advised life insurance companies not to advertise ULIPs as investment products and to disclose their risk factors.
