Tata AIA Life Insurance (Tata AIA), one of India’s leading life insurers, has launched the Midcap Momentum Index Fund, a new fund offer aimed at capitalizing on the dynamic growth potential of India’s midcap sector. The Indian equity market presents substantial wealth creation prospects due to the anticipated multi-fold growth of the economy in the coming decades. Midcap companies are thriving due to factors such as rising consumption, disposable income, organized sectors, global supply chain realignment, and supportive government policies.
The New Fund Offering (NFO) window will remain open until June 15 at a NAV of Rs. 10 per unit. The Midcap Momentum Index Fund mirrors the Nifty Midcap 150 Momentum 50 index, tracking the performance of the top 50 high growth companies within the Nifty Midcap 150.
The Midcap Momentum Index Fund aims for long-term capital appreciation through a diversified portfolio of midcap companies, with a fund composition of 80%-100% equity and equity-related instruments, and 0%-20% cash and money market securities. Commenting on the launch, Harshad Patil, Executive Vice President, and Chief Investment Officer (CIO) of Tata AIA said, “Our offering enables consumers to enjoy long term returns, backed by the financial security and health & wellness benefits from the underlying investment linked plans offered by us.”
