PNB MetLife launches of Bharat Manufacturing Fund in ULIP segment

Customers can invest in the Bharat Manufacturing Fund through a variety of existing PNB MetLife ULIPs

PNB MetLife India Insurance Company Limited has launched Bharat Manufacturing Fund, offering policyholders an opportunity to invest in India's manufacturing sector. The fund will be available as part of the company's Unit Linked Insurance Plan (ULIP). It will be available at an initial unit price of Rs 10 during the New Fund Launch period from August 1 to August 15.

 

A ULIP is a combination of life insurance and investment. A part of a policyholder's premium provides life insurance and the remainder (post expenses) is invested in various equity and debt instruments or a combination of both, according to the policyholder's risk appetite.

 

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.

 

"This fund offers customers a unique opportunity to align their financial aspirations with the growth of India's manufacturing sector, which could contribute 25 per cent of the nation's aspirational 30 trillion dollars  GDP by 2047,” said Sanjay Kumar, chief investment officer at PNB MetLife.

 

The Nifty India Manufacturing Index has outperformed the Nifty 50 Index, delivering five-year annualised returns of 25.3 per cent compared to 15.3 per cent for the Nifty 50 as of June 30, 2024.

 

PNB MetLife's move to introduce the Bharat Manufacturing Fund reflects growing investor interest in India's industrial growth story. As the country aims to position itself as a global manufacturing hub, this new fund provides retail investors with an avenue to potentially benefit from this economic shift.

 

The company has clarified that the NAV of Rs 10 will be applicable for proposals received and issued between August 1-15, 2024, with prevailing NAV rates applying to policies issued after August 16.

 

The Insurance Regulatory and Development Authority of India has asked life insurance companies not to advertise ULIPS as investment products. It has also urged them to disclose their risk factors.