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Investment - Key Driver to Max New York Life Insurance’s Growth Strategy |
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Written by News watch
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Monday, 16 June 2008 |
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Max New York Life Insurance is further strengthening its
investment function as part of Mission Everest, the growth strategy of the
company. The company plans to strengthen its investment desk by adding analysts
and fund managers and launching more fund options to provide better value to
its customers of both ULIP and traditional products. The company also announced
completion of one year of its Growth Super Fund, which has provided a return on
investment of 20.2% as on 30th May 2008. At a time when equity markets have
been volatile, the Growth Super Fund has performed exceptionally well. During
the same period CNX 500 recorded a growth of 11.11% and the BSE Sensex a growth
of 12.86%. Growth Super is a fund that has the mandate to invest a minimum of
70% in equity and can scale it up to 100%, with the rest invested in debt and
cash instruments.
Max New York Life offers a wide choice of funds in
various products, in keeping with its stated philosophy of catering to the
needs of each individual. These include the debt oriented fund, which invests
in a mix of various debt instruments; the balanced fund which invests in a judicious
mix of debt and equity; while the more aggressive options like Growth fund and
Growth Super Fund have a higher exposure to equity. Apart from these regular
fund options, Max New York Life also has a dedicated Dynamic opportunities
fund. This fund option allows the fund manager to allocate funds based on
valuation levels of capital markers - at higher levels exposure to equities is
reduced, while it is increased at lower levels. This option helps investors to capitalize
on an impending boom in the stock market while reducing risk at the time of
volatility.
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