14-11-2024 02:01 PM | Source: PR Agency
PNB MetLife Launches Bharat Consumption Fund

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PNB MetLife India Insurance Company Limited is launching the Bharat Consumption Fund, a new fund option in its Unit Linked Insurance Plan (ULIP) lineup. The fund provides policyholders with an entry to India’s consumer market. The consumer market is projected to reach $4 trillion by 2030, making it the world’s third largest. The Bharat Consumption Fund will be available at an initial unit price of Rs.10 during the New Fund Launch period from 15th November to 28th November 2024. 

Customers can access the Bharat Consumption Fund through existing PNB MetLife ULIPs - PNB MetLife Goal Ensuring Multiplier and PNB MetLife Smart Platinum Plus. These plans provide life insurance coverage and flexible wealth-building options and are available online for convenience.

India’s consumer sector has significant growth potential, driven by favourable demographics, rising incomes, urbanization, and increased spending. By 2030, the country is expected to add 22% of the world’s working-age population, and the anticipated growth in consumer spending is expected to drive long-term demand across sectors like consumer durables, personal care, fast moving consumer goods, and e-commerce.

"The Bharat Consumption Fund enables our customers to participate in India’s dynamic economic growth. Our goal is to help them achieve their financial aspirations through consistent, risk-adjusted returns,” said Sanjay Kumar, Chief Investment Officer at PNB MetLife. “This Fund has been crafted with a focus on long-term value creation, leveraging our strong risk management framework.”

The actively managed fund will invest in a diversified portfolio of companies across India’s consumption sectors, carefully selected to maximize growth potential. The fund’s strategy is aligned with the Nifty India Consumption Index, which has outperformed the Nifty 50 Index in recent years. For policies issued after the New Fund Launch period, the prevailing NAV on the issuance date will apply.While investment returns are subject to market risk and are not guaranteed, the Fund aims to provide consistent value over time through careful management and a robust, diversified portfolio.

 

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