PNB MetLife India Insurance Company Limited announces the launch of Bharat Manufacturing Fund, a new fund option within its Unit Linked Insurance Plan (ULIP) category. The fund offers policyholders a unique opportunity to invest in India’s thriving manufacturing sector. It will be available at an initial unit price of ₹10 during the New Fund Launch period from August 1st to August 15th, 2024.
Customers can invest in the Bharat Manufacturing Fund through several existing PNB MetLife ULIPs, such as the PNB MetLife Goal Ensuring Multiplier, PNB MetLife Smart Platinum Plus, and PNB MetLife Mera Wealth Plan. These ULIPs offer many advantages, including life insurance, flexible investing possibilities, and customised wealth creation solutions. All of these programs can be easily purchased online, ensuring a pleasant investment experience.
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Sanjay Kumar, Chief Investment Officer at PNB MetLife, says, “India is on track to become the world’s third-largest economy, driven by key manufacturing sectors such as automobiles and auto ancillaries, capital goods, healthcare, commodities, chemicals and textiles. With the launch of this fund, PNB MetLife is offering customers a unique opportunity to align their financial aspirations with the growth of India’s manufacturing sector, which could contribute ~25% of the nation’s aspirational $30 trillion GDP by 2047. This actively managed fund provides the potential for significant returns thereby supporting our customers in their financial journey.”
The fund capitalises on the manufacturing sector’s strong performance, as indicated by the Nifty India Manufacturing Index’s considerable outperformance of the Nifty 50 Index. The index has achieved 5-year annualised returns of 25.3%, compared to 15.3% for the Nifty 50 (as of June 30, 2024). It offers a compelling possibility for higher returns, with the potential to outperform the larger market.
These benchmark index returns do not reflect PNB MetLife’s (BMF) performance. NAV of Rs 10/- will be applied for completely submitted proposals received from August 1st to August 15th and issued on August 16th, 2024.
