Tata AIA Life Insurance (Tata AIA) unveils 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 significant wealth creation opportunities as the economy is expected to grow multi-fold over the next few decades.
Driven by growing consumption, rising disposable income, the shift towards organized sectors, global supply chain realignment, and supportive government policies, these factors create a favorable environment for midcap companies to thrive. 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.”
