Axis Max Life Insurance Ltd, formerly known as Max Life Insurance Company Ltd, has announced the launch of Axis Max Life Sustainable Wealth 50 Index Fund. This fund, developed by Axis Max Life, plans to invest in companies that generate consistent cash flows based on the proprietary Sustainable Yield Index.
This customised Index will be computed and maintained by NSE Indices Limited.
Fund Highlights:
* Fund Objective
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The Axis Max Life Sustainable Wealth 50 Index Fund invests in a basket of 50 top-performing stocks based on a proprietary equal-weighted factor-based quantitative index. It is designed to identify top-performing stocks from the Nifty 500 universe based on Free Cash Flow Yield (FCF Yield) for non-financial companies and Dividend Yield for financial companies.
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* Asset Allocation
Equity: 80–100%
Cash & Money Market Instruments: 0–20%
Sachin Bajaj, EVP and Chief Investment Officer, Axis Max Life commented, “This fund leverages the power of a unique, factor-based index that identifies companies with robust cash flows based on our internal methodology.”
The fund will be currently available through Axis Max Life’s Online ULIP products, including the Online Savings Plan and Flexi Wealth Advantage Plan, and will be expanded to additional products post-launch.
Mukesh Agarwal, CEO, NSE Indices Limited, said, “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.”
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