BackBajaj Allianz Life unveils sustainable equity fund; to offer stocks with high ESG scores. What does it mean?
The fund is benchmarked to the Nifty 100 ESG Index, and it will park investors' money in businesses that have high ESG scores and will concentrate on stocks that are included in benchmark ESG indices.
PremiumBajaj Finserv's life insurance arm, Bajaj Allianz Life Insurance has launched Sustainable Equity Fund for investors. This equity fund will allow investment in companies that are socially responsible and have been evaluated on relevant Environment (E), Social (S), and Governance (G) factors. The fund will be available on the insurer's flagship ULIPs.
Tarun Chugh, MD & CEO, of Bajaj Allianz Life Insurance, said, "I believe the Bajaj Allianz Life Sustainable Equity Fund will strongly resonate with our customers."
Further, the fund offers them a strong proposition to fulfil Life Goals while ensuring the ESG quotient of their decisions remains strong. Chugh added, "This will enable us to collectively contribute towards building a strong ESG eco-system."
As per Bajaj Allianz's statement, the fund is benchmarked to the Nifty 100 ESG Index, and it will park investors' money in businesses that have high ESG scores and will concentrate on stocks that are included in benchmark ESG indices.
To identify the 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 the existing investment decision-making process will allow the screening of stocks for the fund.
Chugh added, "At Bajaj Allianz Life Insurance we will continue to focus on every aspect of our customers’ requirements to ensure their Life Goals journey remains strong with us."
Notably, the fund is consistent with the Company’s commitment to practise sustainability, wherein its operations benefit the investors, society, and the environment at large, and strengthen its position as an ESG-compliant organisation.
The company's flagship ULIPs 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 India’s leading and fastest-growing private life insurers. The company is a partnership between two powerful and successful entities in their own right – 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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