NEW DELHI: Axis Max Life Insurance Ltd. (formerly known as Max Life Insurance Company Ltd.) today announced the launch of the Axis Max Life Sustainable Wealth 50 Index Fund.
This first-of-its-kind fund is designed to invest in companies that generate consistent cash flows, based on the proprietary Sustainable Yield Index, developed by Axis Max Life. The customized index will be computed and maintained by NSE Indices Limited.
Fund Highlights:
Fund Objective: The Axis Max Life Sustainable Wealth 50 Index Fund invests in a basket of 50 top-performing stocks based on a proprietary, equal-weighted, factor-based quantitative index. The fund aims to identify the top-performing stocks from the Nifty 500 universe based on Free Cash Flow Yield (FCF Yield) for non-financial companies and Dividend Yield for financial companies.
Asset Allocation:
Equity: 80–100%
Cash & Money Market Instruments: 0–20%
Sachin Bajaj, EVP and Chief Investment Officer at Axis Max Life, commented, “The launch of the Axis Max Life Sustainable Wealth 50 Index Fund reaffirms our commitment to providing value-driven investment options that address evolving market dynamics and investor priorities. This fund leverages the power of a unique, factor-based index that identifies companies with robust cash flows, based on our internal methodology. We believe this fund will be a valuable addition to our portfolio and strengthen our position as one of India's leading life insurance companies.”
As the first proprietary index fund in the insurance industry, the Axis Max Life Sustainable Wealth 50 Index Fund offers exclusive access to a quantitative, factor-based index, aligning with investor demand for sustainable and value-driven investments. By focusing on companies with strong cash flows and consistent growth potential, it caters to customers seeking stability and performance.
The fund will initially be available through Axis Max Life's Online ULIP products, including the Online Savings Plan and Flexi Wealth Advantage Plan, with plans for expansion to additional products post-launch.
Mukesh Agarwal, CEO of NSE Indices Limited, said, “We have worked with Axis Max Life Insurance to create this customized index based on their methodology. The customized index will be computed and maintained by NSE Indices Limited.”
Axis Max Life has established itself as a market leader in the online savings segment, achieving notable success with its suite of passive index funds, such as the NIFTY Smallcap Quality Index Fund, Midcap Momentum Index Fund, and NIFTY Alpha 50 Fund.
About Axis Max Life Insurance Limited
Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a joint venture between Max Financial Services Limited (MFSL) and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners.
With over two decades of operations, Axis Max Life has built its success through a need-based sales process, a customer-centric approach to engagement and service delivery, and a trained human capital force.
As per the annual audited financials for FY2023-24, Axis Max Life Insurance has achieved a gross written premium of INR 29,529 Crore.