Launch Overview

PNB MetLife India Insurance Company Ltd announced the introduction of the PNB MetLife Multifactor Index Fund with an initial Net Asset Value (NAV) of ₹10 per unit. Applications were accepted from 15 June to 29 June 2026, and the fund units were issued on 30 June 2026 at the prevailing NAV thereafter.

Investment Strategy and Benchmark

The fund follows a passive investment approach designed to replicate the performance of a customised index created and maintained by the National Stock Exchange (NSE) for PNB MetLife. The underlying benchmark is the NSE Nifty500 Multifactor MQVLv 50 Index, which incorporates four investment factors – Momentum, Quality, Value and Low Volatility – to provide diversified equity exposure and reduce reliance on any single investment style.

Distribution Channel and Product Integration

The Multifactor Index Fund is offered exclusively through select Unit Linked Insurance Plans (ULIPs) of PNB MetLife, thereby combining market‑linked wealth creation with life‑insurance protection. It can also be accessed via the newly launched PNB MetLife Pension Hybrid Solution, which pairs the fund with a guaranteed income annuity product.

Investor Benefits

1. Factor Diversification – Exposure to Momentum, Quality, Value and Low Volatility factors within a single portfolio.

2. Cycle‑Resilient Returns – Multi‑factor exposure aims to mitigate style risk and deliver a more balanced experience across varying market conditions.

3. Wealth Creation with Life Cover – Investors receive equity market upside potential while retaining life‑insurance protection.

4. Potential Tax Advantages – Maturity proceeds may qualify for zero long‑term capital gains tax provided the consolidated annual ULIP premium does not exceed ₹2.5 lakh and the life cover is at least ten times the annual premium.

5. Investment Expertise Backing – Although the fund is passive, PNB MetLife’s equity fund platform has historically delivered benchmark‑beating performance, with several funds earning 4‑star and 5‑star Morningstar ratings.

Target Investor Profile

The fund is suited for investors seeking long‑term equity exposure through a diversified approach, comfortable with market‑linked returns and volatility, and desiring life‑insurance protection alongside wealth creation. An investment horizon of five years or more is recommended.

Risk Disclosure and Liquidity Constraints

The fund carries a very high risk classification due to its equity exposure and is not appropriate for conservative investors. Linked insurance products do not offer any liquidity during the first five years; policyholders cannot surrender or partially withdraw the invested amount until the end of the fifth year. Investment risk in the portfolio is borne by the policyholder, and unit NAVs may fluctuate with market movements.

Regulatory and Product Identifiers

  • Fund code: SFIN: ULIF04015/04/26MULTIFACTF117
  • The fund complies with IRDAI investment norms for ULIPs.
  • The associated pension hybrid solution combines (1) PNB MetLife Grand Assured Income Plan (UIN: 117N134V09) and (2) PNB MetLife Smart Platinum Pro (UIN: 117L142V02).

About PNB MetLife

PNB MetLife India Insurance Company Ltd is a joint venture between MetLife, Inc. and Punjab National Bank (PNB), one of India’s oldest nationalised banks. The insurer operates through 182 offices, reaches customers in over 20,000 locations via bank partnerships, and serves more than 585 corporate groups. Its distribution network includes over 40,000 financial advisors and multiple bank partners.