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Tata AIA Life Insurance has launched a smart beta index ULIP - Tata AIA Nifty Alpha 50 Index Fund.
The NFO of this ULIP is open for subscription till September 30.
The alpha factor picks up stocks that performed better than the broad based index. The underlying index picks the top 50 performing stocks which have performed better than the broader market index Nifty 50.
Harshad Patil, Executive Vice President and Chief Investment Officer (CIO) of Tata AIA said, "Our policyholders can capture market trends effectively by focusing on high performing stocks across market caps. We can thus provide consumers with long-term returns, apart from life cover and health benefits offered by our investment linked solutions. With Tata AIA Nifty Alpha 50 Index fund, our consumers can look forward to an exciting investment opportunity and a fikar-free life."
