PNB MetLife India Insurance has introduced the Pension Premier Multicap Fund, a new Unit-Linked Insurance Plan (ULIP) that aims to help customers build retirement savings while providing life insurance cover. The fund is 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. This multicap fund will be offered through the PNB MetLife Smart Invest Pension Plan and will follow an active investment strategy, investing in a diversified portfolio with the goal of outperforming the S&P BSE 500 Index.
The fund is benchmarked against the S&P BSE 500 Index and carries investment risks borne by the policyholder, with a five-year lock-in period. PNB MetLife claims that its original multicap fund, launched in 2018, has delivered a compound annual growth rate (CAGR) of 15.9%, outperforming its benchmark by 3.8 percentage points and providing 20% annualized returns over the last five years. The company has partnered with Policybazaar, India’s largest digital insurance platform, to distribute the new fund and provide digital access to customers.
Policybazaar will help meet the growing demand for structured retirement solutions in India, and PNB MetLife’s extensive network of 155 branches and over 19,000 locations via bank partnerships will also support the distribution of the fund. The company’s portfolio includes a range of insurance products focused on protection, savings, child education, and retirement. With this new launch, PNB MetLife aims to provide customers with a comprehensive solution for their retirement needs, while also offering life insurance cover. The partnership with Policybazaar is expected to enhance the reach and accessibility of the fund, making it easier for customers to invest in their retirement goals.