NFO alert: PNB MetLife opens new ULIP fund - Bharat Manufacturing Fund. Points to note before investing

PNB MetLife India Insurance Company has introduced a new fund option, the Bharat Manufacturing Fund, as part of its Unit Linked Insurance Plan (ULIP) offerings. The Bharat Manufacturing Fund would provide policyholders with a distinctive chance to participate in India’s dynamic manufacturing industry. This new fund will be accessible at an introductory unit price of Rs 10 throughout the initial fund launch timeframe scheduled from August 1 to August 15, 2024.

Customers have the opportunity to access the Bharat Manufacturing Fund by leveraging various PNB MetLife Unit Linked Insurance Plans (ULIPs) available in the market. Some of the ULIPs through which the fund can be accessed include the PNB MetLife Goal Ensuring Multiplier, PNB MetLife Smart Platinum Plus, and PNB MetLife Mera Wealth Plan.

A ULIP is an insurance plan that offers the dual benefit of investment to fulfil your long-term goals, and a life cover` to financially protect your family in case of an unfortunate event.

These ULIPs not only provide life insurance coverage but also offer flexible investment options and tailored wealth creation solutions. Additionally, these plans can be conveniently purchased online for ease and accessibility. 

Key points to note

> The new fund is designed to align customer investments with this sector's growth, potentially contributing to India's GDP by 2047.

> The fund will be actively managed and aims to deliver significant returns.

> The Nifty India Manufacturing Index has outperformed the Nifty 50 Index, with a 5-year annualised return of 25.3% compared to 15.3% for the Nifty 50, as of June 30, 2024. 

> The Bharat Manufacturing Fund seeks to capitalise on this trend, though returns may vary.

> NAV of Rs 10 will be applicable for duly completed proposals received from 1st to 15th August and issued on 16th August 2024. 

> For policies issued after 16th August the prevailing NAV on the day of issuance will be applicable.

Sanjay Kumar, Chief Investment Officer at PNB MetLife, said: “India is on track to become the world’s third-largest economy, driven by key manufacturing sectors such as automobiles and auto ancillaries, capital goods, healthcare, commodities, chemicals and textiles. With the launch of this fund, PNB MetLife is offering customers a unique opportunity to align their financial aspirations with the growth of India’s manufacturing sector, which could contribute 25% of the nation’s aspirational USD 30 trillion GDP by 2047. This actively managed fund provides the potential for significant returns thereby supporting our customers in their financial journey.”