Canara HSBC Life launches India manufacturing fund for ULIPs

The portfolio focuses on Automobiles, Capital Goods, Defence, Healthcare, and Metals.

Canara HSBC Life Insurance has launched the India Manufacturing Fund, a new addition to its Unit Linked Insurance Plan (ULIP) lineup, aiming to harness the potential of India’s manufacturing sector for long-term capital appreciation.

The limited-time New Fund Offer (NFO) is open until 21 November 2024, at an initial Net Asset Value (NAV) of Rs. 10. 

This fund provides a diversified equity portfolio with a focus on companies in sectors like automobiles, capital goods, defence, healthcare, and metals.

The fund’s strategy centres on equity investments, with 60% to 100% allocated to equity and equity-related instruments, whilst the remaining 0% to 40% can be allocated to money market instruments. 

Debt securities are not part of this fund’s allocation. The benchmark index, the Nifty India Manufacturing Index, reflects the manufacturing sector’s diversity by capping individual stock weights at 5%, enabling balanced exposure to India’s manufacturing landscape.