Bajaj Allianz Life Insurance, the life insurance arm of Bajaj Finserv, has launched Sustainable Equity Fund for investors. This equity fund will allow investment in companies that are socially responsible and assessed on relevant environmental (E), social (S), and governance (G) factors. This fund will be available on the flagship ULIP of the insurer.
Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance said, “I believe in Bajaj Allianz Life Sustainable. equity fund will resonate strongly with our customers.”
Furthermore, the fund offers them a strong proposition to meet life goals, while ensuring that the ESG quotient of their decisions remains strong. “This will enable us to collectively contribute towards building a stronger ESG eco-system,” Chugh said.
According to Bajaj Allianz statement, the fund is benchmarked smelly 100 ESG Index, and it will park investors’ money in businesses that have high ESG scores and focus on stocks included in benchmark ESG indices.
To identify businesses, Bajaj Allianz Life Insurance will evaluate organizations based on its internal proprietary ESG Factor Model, which will assess data such as public disclosures, investor presentations, annual reports, etc.
Then, ESG principles combined with existing investment decision-making processes will allow for the screening of stocks for the fund.
Chugh added, “At Bajaj Allianz Life Insurance, we will continue to look into every aspect of the needs of our customers to ensure that their journey towards life goals remains strong with us.”
Notably, the fund is in line with the company’s commitment to embrace sustainability, wherein its operations benefit investors, society and the environment at large, and reinforces its position as an ESG-compliant organisation.
The major ULIPs of the company where the fund will be available are:
Bajaj Allianz Life Goal Assure – A unit-linked non-participating life insurance plan.
– Bajaj Allianz Life Smart Wealth Goal – A unit-linked non-participating life insurance plan
– Bajaj Allianz Life Future Wealth Gain – A non-participating, unit-linked, individual, endowment life insurance plan
– Bajaj Allianz Life LongLife Goal – A unit-linked non-participating whole life insurance plan
– Bajaj Allianz Future Gain – A Unit-Linked Endowment Insurance Plan
Bajaj Allianz Life Insurance is one of the leading and fastest growing private life insurers in India. The company itself is a partnership between two powerful and successful entities – Bajaj Finserv, one of India’s most diversified non-banking financial institutions, and Allianz SE, one of the world’s leading asset managers and insurers.
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