Max Life Insurance forays into pension fund management business

Max Life Pension Fund will manage pension assets for private and government sector customers except for the “Default Scheme”, which aims to conceivably increase the Assets Under Management (AUM). 1 trillion in the next 10 years.

The Company and Pension Fund will now cater to all product categories including pension products, annuities and pension fund management to help customers plan their retirement. It is also in the process of applying for Point of Presence registration to the Pension Fund Regulatory and Development Authority (PFRDA), which will help the subscribers to open new NPS accounts.

Prashant Tripathi, MD & CEO, Max Life, said, “Max Life Pension Fund Management Limited strengthens our presence in the retirement segment. We are committed to protect Indians financially in their golden years. We will leverage our competitive fund management capabilities and Max Life’s distribution strength, including our corporate business teams, individual advisors and our direct sales teams, to spread awareness about NPS and drive value for our clients. ,

The establishment of the pension fund management subsidiary is an important lever in Max Life’s growth strategy to become a major player in the retirement space. The Pension Fund aims to maximize the risk-adjusted returns for its clients on a consistent and long-term basis while adhering to the PFRDA guidelines. The company’s investment options will draw from the expertise of highly skilled leadership and focus on profitable investment strategy and fund management capabilities to generate attractive investment returns for its clients while adhering to the regulatory limits set by PFRDA.

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