PNB MetLife India Insurance has introduced a new fund called Pension Premier Multicap Fund as part of its unit-linked insurance plan (ULIP).
This fund is being offered through the PNB MetLife Smart Invest Pension Plan and aims to help customers save for retirement while also providing life insurance coverage.
The company has partnered with Policybazaar, a leading digital insurance platform, to distribute the new fund online.
The subscription window is open until April 15, 2025, during which the fund will be available at an initial Net Asset Value (NAV) of ₹10. After that, it will be available at market value.
Fund Strategy and Performance
The Pension Premier Multicap Fund will follow an active investment strategy, meaning it will invest in a mix of stocks across different sectors and market capitalizations with the goal of outperforming the S&P BSE 500 Index, which is its benchmark.
The fund comes with a 5-year lock-in period, and the investment risk is borne by the policyholder.
PNB MetLife’s earlier multicap fund, launched in March 2018, has shown strong performance, delivering a compound annual growth rate (CAGR) of 15.9%, which is 3.8% higher than its benchmark. Over the last five years, it has provided 20% annual returns.
The new fund will also benefit from Policybazaar’s digital platform, making it easily accessible to customers seeking structured retirement solutions.
About PNB MetLife and Policybazaar
PNB MetLife has a wide network of 155 branches and reaches over 19,000 locations through bank partnerships.
Its product range includes insurance for protection, savings, child education, and retirement.
Policybazaar, known as India’s largest digital insurance platform, collaborates with over 50 insurance companies and holds a 93% market share in the online insurance aggregator segment.
