PNB MetLife India Insurance has launched the Pension Premier Multicap Fund under its Unit-Linked Insurance Plan (ULIP). The company has partnered with the policy market to distribute new funds. The fund will be open to membership at an early net asset value (NAV) of Rs 10 by April 15, 2025. After this period it will be available at market price.
Fund strategy
This multicap fund will be introduced through PNB MetLife Smart Investment Pension Plan. Its objective is to help customers in retirement savings by providing life insurance cover. This fund will follow an active investment strategy. Its plan is to invest in diverse portfolio and aims to perform better than S&P BSE 500 index. This fund will use the multicap strategy of PNB Metlife. The company claims that this strategy has also shown a strong performance in the past.
Pension Premier Multicap Fund S&P comes under the benchmark of BSE 500 index. The risk of investment in it is completely borne by the policyholder and its lock-in period is five years. PNB MetLife said that its original multicap fund launched in March 2018 has given a CAGR of 15.9%, which is 3.8 percent higher than its benchmark. The fund has given 20% annual return in the last 5 years. The policy market will provide digital access to new funds. The company said that its objective is to meet the increasing demand for structured retirement solutions in India.
PNB MetLife and Policy Market
PNB Metlife operates through 155 branches and provides services at more than 19,000 places through bank partnership. Its portfolio includes security, savings, child education and retirement-focused insurance products. India’s largest digital insurance platforms, policy markets, work with more than 50 insurance companies and have a 93% market share in the online aggregator sector.
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