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Tata AIA has launched Tata AIA Multicap Momentum Quality Index Fund, a multi cap ULIP index fund focusing on momentum and quality factors. The fund aims to generate long-term capital appreciation by investing in a portfolio of stocks that replicate the Nifty 500 Multicap Momentum Quality 50 Index.
It will also offer its investors life cover and health insurance.
The fund will invest 80%-100% of its portfolio in equity and equity-related instruments and 0%-20% in cash and money market Instruments with an aim to achieve an effective balance between growth and liquidity.
Harshad Patil, Executive Vice President and CIO, Tata AIA said, "As India's economy continues on its growth trajectory, the equity markets present a compelling opportunity for wealth creation. However, navigating market volatility and elevated valuations requires a disciplined and strategic approach. The ULIP is a thoughtfully designed offering that blends the benefits of momentum-driven stock selection with the assurance of quality and diversified investments. This ensures policyholders can capture growth opportunities and realize their long-term financial goals. With the life and health management services, this fund underscores our commitment to make our consumers enjoy a fikar-free life."