Tata AIA Life Insurance Co Ltd announced the launch of its Multicap Momentum Quality Index Fund today, with the New Fund Offer (NFO) set to open from December 24 to December 31, 2024. The fund will track the Nifty 500 Multicap Momentum Quality 50 Index and invest across market capitalisations.
The fund’s investment strategy allocates 80-100 per cent in equity and equity-related instruments, with the remaining 0-20 per cent in cash and money market instruments. It employs a factor-based approach focusing on momentum and quality stocks across 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.
The fund will be available through Tata AIA’s Unit Linked Insurance Plans, including their Param Raksha solutions and Pro-Fit plan, combining investment opportunities with life and health insurance coverage.
Tata AIA reported strong fund performance, with 96.22 per cent of its rated Assets Under Management receiving 4 or 5 stars from Morningstar as of November 2024. The company’s AUM stands at ₹117,867.73 crore, representing a 35.91 per cent year-over-year growth.
