PNB MetLife India Insurance has launched the Pension Premier Multicap Fund under its Unit-Linked Insurance Plans (ULIPs). The company has partnered with Policybazaar to distribute the new fund.

The fund will be open for subscription till April 15, 2025, at an initial Net Asset Value (NAV) of ₹10.

After this period, it will be available at market value.

This multicap fund will be offered through the PNB MetLife Smart Invest Pension Plan. It aims to help customers build retirement savings while also offering life insurance cover.

The fund will follow an active investment strategy. It plans to invest in a diversified portfolio and aims to outperform the S&P BSE 500 Index.

The fund uses PNB MetLife’s multicap strategy, which the company claims has shown strong past performance.

The Pension Premier Multicap Fund is benchmarked against the S&P BSE 500 Index. It carries investment risks borne by the policyholder, and it has a five-year lock-in period.

PNB MetLife said its original multicap fund, launched in March 2018, has delivered a compound annual growth rate (CAGR) of 15.9%, outperforming its benchmark by 3.8 percentage points.

The fund has provided 20% annualized returns over the last five years.

Policybazaar will provide digital access to the new fund. The company said it aims to meet the growing demand for structured retirement solutions in India.

PNB MetLife operates through 155 branches and serves over 19,000 locations via bank partnerships.

Its portfolio includes insurance products focused on protection, savings, child education, and retirement.

Policybazaar, India’s largest digital insurance platform, works with over 50 insurers and claims a 93% market share in the online aggregator space.