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Mumbai: Star Union Dai-ichi Life Insurance (SUD Life) has introduced an innovative investment option for its Unit-Linked Insurance Plan (ULIP) customers with the launch of the SUD Life NIFTY Alpha 50 Index Fund. The new fund is designed to capitalize on the performance of the NIFTY Alpha 50 Index, a ‘smart beta’ benchmark that targets high-alpha generating stocks in the Indian equity market.
The New Fund Offer (NFO) for the index fund is currently open and will close on October 24, providing a limited window for policyholders to participate in this data-driven equity strategy.
The core of the new offering lies in its benchmark, the NIFTY Alpha 50 Index. This index is not based on traditional market capitalization but is a curated portfolio of the top 50 Indian stocks selected for their ‘alpha.’ Alpha is a key financial metric that measures a stock’s ability to outperform the broader market after adjusting for the level of risk taken. By focusing on this risk-adjusted outperformance, the index aims to capture consistent excess returns.
Crucially, the NIFTY Alpha 50 index employs a performance-oriented weighting methodology. Each stock’s weight in the index is determined by its individual alpha score, meaning companies that have shown the strongest risk-adjusted outperformance receive a greater allocation. This methodology is dynamic, with the index being rebalanced quarterly to ensure the portfolio remains aligned with evolving market trends and continues to track recent high-alpha performers.
The new fund is sector-agnostic and maintains a strategic bias towards the mid-cap segment, positioning it to provide investors with a channel to participate in India’s high-growth equity story.
SUD Life is making this fund available through its popular unit-linked insurance products, including the Wealth Builder Plan, e-Wealth Royale, and Star TULIP Plan. This integration allows investors to combine the protection of life insurance with a sophisticated, data-driven equity investment strategy.
In an added benefit to investors, the company highlighted the recent GST exemption on ULIP charges, which is expected to translate into reduced costs for policyholders. This regulatory relief can potentially enhance the net returns on their market-linked insurance products.
SUD Life, established in 2009, operates as a joint venture between India’s prominent public sector banks, Bank of India and Union Bank of India, and the leading Japanese life insurer, Dai-ichi Life Insurance. The company has a significant footprint in the Indian insurance sector, serving over 15 million customers and managing assets of ₹31,069 crore as of March 31, 2025, through a vast network of more than 20,000 distribution touchpoints. The launch of the NIFTY Alpha 50 Index Fund underscores SUD Life’s commitment to providing customers with access to modern, research-backed investment avenues for wealth creation.
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