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Max Life Insurance has launched a passively managed ULIP that focusses on small cap index.
The ULIP - NIFTY Smallcap Quality Index Fund is the first Smallcap Index ULIP of the insurance industry. The fund will invest in 50 stocks from the universe of 250 small cap stocks based on pre-determined metrics. The NFO opens on August 25.
In a press release, Mihir Vora, Senior Director and Chief Investment Officer, Max Life said, "Over the past years, the small-cap and mid-cap indices have given stellar returns. This fund is suited for investors with high-risk tolerance looking to generate good returns over the long term.”