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Bajaj Allianz Life has launched a ULIP Bajaj Allianz Life Dynamic Asset Allocation Fund.
The ULIP aims to dynamically allocate between equity and debt to minimize volatility and downside risk during market corrections. Overall, it seems to work like balanced advantage fund in mutual funds.
Crisil Dynamic Asset Allocation Index (45% equity, 45% debt and 10% liquid) will be the benchmark index and the NFO will remain open till September 25, 2023.
In a press release, Sampath Reddy, CIO, Bajaj Allianz Life Insurance said, “The ULIP will enable investors to seamlessly move their funds in line with market trends. This feature aims to provide customers with peace of mind by dynamically handling asset allocation through a proprietary quantitative model and insights from fund managers. With a disciplined approach, the fund empowers investors on their path to achieving life goals.”