PNB MetLife India Insurance has launched the Pension Premier Multicap Fund, a Unit-Linked Insurance Plan (ULIP) designed to help customers build retirement savings while offering life insurance cover. The fund will be available for subscription until April 15, 2025, at an initial Net Asset Value (NAV) of ₹10, after which it will be available at market value. The multicap fund aims to invest in a diversified portfolio and outperform the S&P BSE 500 Index. It is benchmarked against the same index and carries investment risks borne by the policyholder, with a five-year lock-in period.

PNB MetLife claims its multicap strategy, which has been in place since 2018, has delivered strong past performance. The company’s original multicap fund has achieved a compound annual growth rate (CAGR) of 15.9%, outperforming its benchmark by 3.8 percentage points. The new fund has also provided 20% annualized returns over the last five years. Policybazaar, India’s largest digital insurance platform, has partnered with PNB MetLife to distribute the new fund and provide digital access to customers.