Tata AIA Life Insurance Co Ltd today announced the launch of its Multicap Momentum Quality Index Fund, with the New Fund Offer (NFO) opening from December 24 to December 31, 2024. The fund will track the Nifty 500 Multicap Momentum Quality 50 Index. and investing in market capitalizations.
The fund’s investment strategy invests 80 to 100 percent in equities and equity-related instruments, while the remaining 0 to 20 percent is invested in cash and money market instruments. It uses a factor-based approach that focuses on momentum and quality stocks across the large-cap, mid-cap and small-cap segments.
According to Harshad Patil, Executive Vice President and CIO of Tata AIA, the fund aims to capture growth opportunities while maintaining a disciplined investment approach in the current market environment.
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The fund will be available through Tata AIA’s Unit Linked Insurance Plans, including their Param Raksha solutions and Pro-Fit plan, combining investment options with life and health insurance.
Tata AIA reported strong fund performance, with 96.22 percent of rated Assets Under Management receiving 4 or 5 stars from Morningstar as of November 2024. The company’s assets under management stand at ₹117,867.73 crore, registering a growth of 35.91 percent year-on-year.
