Axis Max Life Insurance Ltd. formerly known as Max Life Insurance Company Ltd., announced the launch of Axis Max Life Sustainable Wealth 50 Index Fund. This first-of-its-kind fund which intends to invest in companies that generate consistent cash flows based on the proprietary Sustainable Yield Index is developed by Axis Max Life. This customised Index will be computed and maintained by NSE Indices Limited.
Fund Objective: The Axis Max Life Sustainable Wealth 50 Index Fund invests in a basket of 50 top-performing stocks based on a proprietary equal weighted factor-based quantitative index.It is designed to identify top-performing stocks from the Nifty 500 universe based on Free Cash Flow Yield (FCF Yield) for non-financial companies and Dividend Yield for financial companies.
Sachin Bajaj, EVP and Chief Investment Officer, Axis Max Life commented, “The launch of the Axis Max Life Sustainable Wealth 50 Index Fund, reaffirms our commitment to providing value-driven investment options that address evolving market dynamics and investor priorities. This fund leverages the power of a unique, factor-based index that identifies companies with robust cash flows based on our internal methodology. We believe this fund will be a valuable addition to our portfolio and strengthens our position as one of India’s leading life insurance companies.”
Mukesh Agarwal, CEO, NSE Indices Limited, said, “We have worked with Axis Max Life Insurance to create this customised index based on Axis Max Life Insurance’ methodology. The Customised Index will be computed and maintained by NSE Indices Limited.”