Axis Max Life Launches Nifty 500 Multifactor 50 Index Pension Fund for long-term retirement wealth creation
New Delhi [India], July 2: Axis Max Life Insurance Limited ("Axis Max Life"/ "Company"), formerly known as Max Life Insurance Company Limited, has introduced the Axis Max Life Nifty 500 Multifactor 50 Index Pension Fund, a passively managed equity pension fund designed to help policyholders build a robust retirement corpus through a diversified, factor-based investing approach.
The fund mirrors the Nifty 500 Multifactor MQVLv 50 Index and combines four key investment factors-momentum, quality, value, and low volatility, to offer a powerful blend of growth and downside protection. It provides long-term investors with a well-diversified equity portfolio selected from the Nifty 500 universe, helping mitigate concentration and sectoral risks. With an emphasis on transparency and consistency, the fund will be available to policyholders with Axis Max Life Forever Young Pension Plan.
Key Highlights of the Axis Max Life Nifty 500 Multifactor 50 Index Pension Fund:
* Benchmark: Nifty 500 Multifactor MQVLv 50 Index
* Stock Universe: Top 50 stocks from the Nifty 500 based on composite factor scores
* Risk Profile: Very High
* Asset Allocation: 80-100% Equity; 0-20% Cash/Money Market Instruments
* NFO Period: July 1-16, 2025 at ₹10 per unit
* Available with: Axis Max Life Forever Young Pension Plan
Factor-Based Equity for Smarter Retirement Investing
Traditional equity investing often relies on single-factor strategies or discretionary stock selection, both of which can expose investors to undue volatility or fund manager bias. The Axis Max Life Nifty 500 Multifactor 50 Index Pension Fund addresses this by offering a rule-based, multi-factor strategy that selects 50 stocks with the highest combined scores on momentum, quality, value, and low volatility. This approach is designed to capture upside potential in bull markets while offering better risk-adjusted returns and downside protection during drawdowns--critical for investors planning for retirement.
Defined Investment Objective and Robust Asset Allocation
The fund's objective is to generate long-term capital growth by investing in a basket of equities that mirror the Nifty 500 Multifactor MQVLv 50 Index, which comprises top-performing companies from the Nifty 500 based on composite factor scoring. The asset allocation is structured to invest 80-100% in equities and 0-20% in cash and money market instruments, with no debt exposure. The passive strategy enables close replication of index performance while limiting costs and minimizing active decision risks. With a Very-High risk profile, the fund is suitable for investors with a long-term investment horizon and higher risk appetite.
About Axis Max Life Insurance Limited (https://www.axismaxlife.com)
Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ("MFSL") and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr.
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So, we are pretty constructive. More importantly, if you see the correlation of pharma with Nifty, on a short-term basis it is around 0.6, on a long-term basis it is less than 0.5. Gurmeet Chadha suggests that with corporate profitability nearing all-time highs and markets at 21 times forward earnings, investors should temper return expectations. He recommends a balanced portfolio with long-dated bonds and gold. Rural demand is showing signs of recovery, while the pharma sector, particularly CDMO and generics, presents opportunities with lower correlation to the Nifty. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads "People have got some bit of consolidation in last six-nine months. So, you have to readjust to the new normal. You cannot make 25% returns when you are at 21 times earnings. So, have a more balanced allocation in terms of your portfolio, include some long-dated bonds, add maybe a bit of a flavour of gold, and be a little modest in terms of expectations," says Gurmeet Chadha, Complete Circle couple of things you have to see. One, our corporate profitability to GDP is now nearing all-time high. We are at almost 4.7%. The last time this had touched 5% was 2007-08. So, corporate profitability despite earning growth being mediocre is now at about 4.7% to the GDP. So, if you see last quarter earnings also, broader market, this I am talking about Nifty 500 , so broader market was about 11% plus earning if this quarter we do slightly better, then markets could sustain these levels because you are at 21 times forward earnings, so the market is not cheap. So, the earnings are extremely important. Market is also a little bit nervous on the US trade deal and what happens before 9th of July, so that event should play out over the next few days, so that is something the market would look up to and then maybe some of the sectors which have been impacted by tariffs whether it is auto, whether it is textile, whether it is selectively pharma, and host of other sectors will take more direction most importantly, we are seeing a bit of pickup in the rural demand , that is evident in two-wheeler numbers, that is evident in farm equipment and tractor numbers, that is evident in commentary you listen to some of the fertiliser companies, that is one good part of it. And historically, whenever monsoons have been 5% or 6% above normal, agriculture GVA is around 6%. So, it is about 2% higher than the long-term average which is 4%, which is a good sign, because we had a very soft rural economy for almost couple of now, the rural economy is coming back. Urban is still soft, probably needs a little more boost other than the rate cuts by RBI and maybe some GST cuts would the second half of the year could be better, but provided as I said, earnings play out and we do not have tariff issues. Secondly, most importantly, we have to reset our return expectations and we have been saying this for a while, we will not get 25-30% returns people have got some bit of consolidation in last six-nine months. So, you have to readjust to the new normal. You cannot make 25% returns when you are at 21 times earnings. So, have a more balanced allocation in terms of your portfolio, include some long-dated bonds, add maybe a bit of a flavour of gold, and be a little modest in terms of you break pharma into four subsets, the healthcare hospital part has done pretty well, whether it is Apollo, Max. Narayana also caught up pretty well. What I think could do well once there is more clarity is, the CDMO and generics, the market needs clarity in general is a huge opportunity. Already if you see the likes of Divi's, Laurus, some of the other names, they are already at their all-time high. And if you see the export numbers of last year versus now, 70% numbers have already happened in the first five-six there is more opportunity and once the Biosecure Act if at all finds light at the end of the tunnel in US, you could see Indian companies really gaining some market share vis-à-vis China. The last one is the branded generics bit, which is more like FMCG in Indian context, where valuations are slightly rich but you get steady, not much cyclicality in the we like Mankind in this space. We are tracking the likes of Ipca, Cipla , etc, in this we are pretty constructive. More importantly, if you see the correlation of pharma with Nifty, on a short-term basis it is around 0.6, on a long-term basis it is less than when corrections happen and in a market like this you got to also see downside risk in the sector, Nifty Pharma falls less than 50%. So, for example, if you go back to 2008 when markets fell 60%, Nifty Pharma was down 27%. In covid, again it fell half, in fact it recovered the fastest post.2011 again, it fell 15% versus 20-25% broader fall in the market. So, it is very important for us to look at risk adjusted returns and low correlation also while building a portfolio and pharma has outperformed Nifty over last 10, 15, 20 years. So, it falls lesser and over a long period outperforms, so deserves more allocation and more weight in the portfolio.
