PNB MetLife India Insurance Company has launched the Bharat Consumption Fund as part of its Unit Linked Insurance Plan (ULIP) products. The new fund is open for subscriptions and will end on November 28, 2024, with an initial unit price of Rs 10.
The Bharat Consumption Fund is available through PNB MetLife's ULIP plans which offer life insurance and flexible investment options online. The fund enables policyholders to gain access to India's rapidly increasing consumer market, which is estimated to be the world's third largest at $4 trillion by 2030.
The fund will actively manage investments in companies in India's consumer sectors, following the Nifty India Consumption Index, which has outperformed the Nifty 50. Returns are not guaranteed because they are market connected. However, the fund seeks continuous value through prudent portfolio management.
With an estimated 22% of the global working-age population by 2030, India is expected to boost demand in a variety of sectors, including consumer goods, personal care, and e-commerce, as its consumption grows.
"The Bharat Consumption Fund enables our customers to invest in India's economic growth," stated Sanjay Kumar, Chief Investment Officer at PNB MetLife. He stated that the fund's goal is on long-term, risk-adjusted returns from a diverse portfolio.
ULIPs are financial products that combine life insurance coverage and investing choices through mutual funds into a single plan. Premium payments for a ULIP are divided into two parts wherein one goes toward life insurance coverage, and the other goes to the chosen mutual fund for investing objectives.
