Canara HSBC Life Midcap Momentum Growth Index Fund NFO

Canara HSBC Life Midcap Momentum Growth Index Fund is a New Fund Offering (NFO) from Canara HSBC Life Insurance Company. This investment option aims to grow your money over the long term by investing in the top 50 mid-sized companies showing strong growth potential. The new Canara HSBC Mid Cap Momentum Growth Fund starts on April 1, 2024 and ends on April 30, 2024.

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What is the Canara HSBC Life Midcap Momentum Fund?

Canara HSBC Life Mid Cap Momentum Growth Fund is a New Fund Offering (NFO) by Canara HSBC Life Insurance Company Limited. An NFO is a first time offering of a newly launched market-linked fund by an insurance company.

This fund focuses on investing in mid-cap stocks that demonstrate strong momentum, which means they have the potential to grow rapidly based on their recent performance trends.

The goal of this fund is to provide you with the opportunity to participate in the growth potential of mid-sized companies that are expected to outperform the market in the near future.

canara-hsbc-nfocanara-hsbc-nfo

Highlights of the Canara HSBC Life Midcap Momentum Growth Fund

Aspect Details
Investment Objective To invest in mid-sized companies that have shown consistent upward price trends or momentum in their stock prices.
Benchmark Index NIFTY Midcap 150 Momentum 50 Index
NFO Start Date 1 April 2024
Current NAV ₹10
Minimum Investment ₹2,000/month (Available under Canara HSBC Promise4Growth Plan)

Reasons Why You Should Invest in Canara HSBC Life Midcap Momentum Growth Fund

  • Impressive Returns: This investment option boasts a remarkable 29.2%++ benchmark return over a span of five years.

  • Managerial Neutrality: Invest in the top 50 companies within the mid-cap universe without being influenced by any fund manager biases.

  • Zero Charges: You can enjoy the benefits of the Canara HSBC Midcap Momentum Fund under the Promise4Growth market-linked investment plans at zero charges.

  • Varied Goals Covered: Whether it is growth, securing your child's future, or planning for retirement, Canara HSBC Life Midcap Momentum Fund has got you covered. You can buy these plans at a minimal premium of ₹2,000 per month.

  • Flexible Investment: Canara HSBC investment plans offer you the flexibility to invest according to your budget in montly, half-yearly, or annual frequency as per your different financial goals.

++Returns as on 27/03/2024. Data Source-https://www.niftyindices.com/reports/historical-data

reasons-to-choose-canara-nforeasons-to-choose-canara-nfo

What is the NIFTY Midcap 150 Momentum 50 Index?

The NIFTY Midcap 150 Momentum 50 Index is a stock market index that tracks the performance of 50 mid-sized companies in India. These companies are selected from a wider pool of 150 mid-cap stocks based on a momentum score.

Performance of NIFTY Midcap 150 Momentum 50 Index

Index Name  3-Year Returns 5-Year Returns 10-Year Returns
NIFTY Midcap 150 
Momentum 50 
30.80% 29.20% 26.90%
NIFTY Midcap 150  23.50% 24.40% 21.70%
NIFTY Smallcap 250 25.50% 24.90% 19.90%
NIFTY 50 14.80% 15.30% 13.40%

Returns updated as of March 2024

Differences Between Index Funds and Actively Managed Funds

Parameter Index Fund Actively Managed Funds
Performance Mimic Benchmark It may or may not beat the benchmark
Risk Profile No Added Risk Might have risks depending on the performance
Stock picking Copy the benchmark May have more concentrated positions
Underperforming the market No Yes
Potential Investment Bias No Yes

So, investing in an Index Fund allows you to sit back, relax and earn. This is the best opportunity to get returns as high as Index Funds!

Canara HSBC Life Products Providing the Canara HSBC Midcap Momentum Growth Fund 2024

Investment Plans Child Plans 
(includes Waiver of Premium)
Retirement Plans 
Capital Guarantee Solution
(Min Premium: 2,800)
Capital Guarantee Solution
(Min Premium: 2,800)
Capital Guarantee Solution
(Min Premium: 2,800)
Promise4Growth Wealth
(Min Premium: 2,000)
Promise4Growth Care
(Min Premium: 2,000)
Promise4Growth Life 
(Min Premium: 2,000)

Canara HSBC Child Plans

Canara HSBC Child Plans are insurance policies offered by Canara HSBC Life Insurance specifically designed to help you save for your child's future education.

Canara HSBC Waiver of Premium (WOP) Capital Guarantee Solution

Canara HSBC Promise4Growth Care WOP Child Plan

Plan Type: Capital Guarantee Solution Plan (includes features of both ULIP and Traditional Plans)

Key Benefits of Waiver of Premium Option:

If the parent dies, the plan provides the following benefits:

  • The insurance company will pay all future premiums for both ULIP & traditional policy in the capital guarantee plan capital guarantee plan.
  • The maturity value payout of both ULIP & traditional policy is ensured.
  • The maturity value is paid out at the end of the policy term.
  • All nominee options are available.
  • Plan Type: Unit Linked Insurance Plan (ULIP)
  • Life Assured and Proposer: Parent

Key Benefits of Waiver of Premium Option

If the parent dies, the plan provides the following benefits:

  • Waiver of Premium starts.
  • The insurance company pays future premiums for your policy.
  • Life covers payout in case of the parent's death.
  • The maturity value is paid out at the end of the policy term.
  • All nominee options are available.

canara-hsbc-nfocanara-hsbc-nfo

Canara HSBC Offers a Whole Life Variant with Smart Withdrawal Facility (SWF)

  • Smart Withdrawals Facility (SWF): This facility allows an automatic withdrawals system from your fund. This benefit is available under "Wealth Option" for premium paying terms of 10+ years and can be selected during the proposal or after policy issuance.

  • Timing: Withdrawals start from the 11th Policy Year or upon SWF request, whichever is later. The withdrawals continue until you choose to stop them.

  • Amount: You can set automatic withdrawals ranging from 1% to 12% of the fund value, as per preference.

Why Should You Choose Canara HSBC Life?

  • Prominent Partnerships: Promoted by Canara Bank and HSBC Bank, each with long years of experience.

  • Rich Banking Heritage: Canara Bank boasts 110+ years of banking experience and ranks as the 4th largest public sector bank. HSBC holds 150+ years of expertise in banking.

  • Expansive Customer Base and Infrastructure: Canara Bank serves over 10 crore customers through its huge network of 9270 branches.

  • Global Banking Giant: HSBC Bank, founded in 1865, is one of the world's largest banking and financial services organizations.

  • Worldwide Market Presence: HSBC Bank serves 42 million customers across 62 countries and is listed on stock markets in Europe, the USA, and Hong Kong.

  • Trusted Leader in Life Insurance: The Canara HSBC Life Insurance Company is a trusted brand in the life insurance industry, managing an AUM of ₹34,132 Cr with a solvency ratio of 252%.

  • Nationwide Accessibility: The insurance company is widely present, with over 100 branches strategically located across India to cater to customer needs.

Benefits of Purchasing the Canara HSBC Life Midcap Momentum Growth Fund from Policybazaar

Following are the key benefits of buying the Canara HSBC Life Mid Cap Momentum Growth Fund from Policybazaar:

  • Convenient Online Investing: Policybazaar enables you to invest in the new Canara HSBC Life Momentum Growth Index Fund through its online Canara HSBC investment plans, which eliminates the need to physically visit your agent.

  • Comparison Options: With Policybazaar, you can compare different plans and fund performances, empowering you to make well-informed investment decisions.

  • Platform convenience: You can manage your investments through a single platform.

  • Financial advisors: Policybazaar might connect you with financial advisors who can help you choose the right investment plan for Canara HSBC Life Midcap Momentum Growth Fund NFO.

  • Tax Savings: You can invest in a chosen Canara HSBC Savings Plan for Canara HSBC Life Midcap Momentum Growth Index NFO through Policybazaar and explore potential tax benefits, aiding in effective financial planning.

Steps to Buy Canara HSBC Life Midcap Momentum Growth Fund from Policybazaar

  • Step 1: Begin by filling out the form with your name and contact number.

    Rest assured, your information is securely handled and used solely to tailor your plan benefits.

  • Step 2: Proceed to input essential details such as your city, age, and income.

  • Step 3: Explore and compare different plans based on their performance, ratings, and other relevant factors.

  • Step 4: Choose from a selection of Canara HSBC Life Savings Plans to gain access to the new Canara HSBC Life Midcap Momentum Growth Fund NFO, including:

    • Canara HSBC Capital Guarantee Solution

    • Canara HSBC Child Plan Capital Guarantee Child Plan - WOP

    • Canara HSBC Capital Guarantee Retirement Plan 

    • Canara HSBC Promise4Growth Wealth Plan

    • Canara HSBC Promise4Growth Care Child Plan

    • Canara HSBC Promise4Growth Life Retirement Plan

  • Step 5: Click the "View Plans" button and follow the intuitive on-screen prompts to complete your purchase seamlessly.

  • Step 6: Provide the necessary KYC details and proceed to finalize your payment securely.

  • Step 7: Upon successful payment, expect to receive confirmation of your purchase promptly.

Investment Methodology of Nifty Mid Cap 150 Momentum 50 Index

The NIFTY Midcap 150 Momentum 50 Index focuses solely on the top 50 performing stocks from the Mid Cap 150 index. The investment methodology followed is mentioned below:

investment-methodologyinvestment-methodology
  • Rule-Based Investing: Utilizes a formula or AI system to make buying and selling decisions based on the last 6- and 12-month returns.

  • Winner's Promotion, Loser's Demotion: Includes stocks showing strong performance while removing those with comparatively poor returns within a set timeframe.

  • Index Declaration by NSE, Replication by Canara: The index is declared by NSE, and Canara replicates it. Rebalancing of the index occurs every 6 months in June and December.

  • Impressive Historical Returns: The 10-year return stands at 26.9%++, while the 5-year return is at 29.2%++.

++Returns as on 27/03/2024.
Data Source-https://www.niftyindices.com/reports/historical-data

Sectors Included on NIFTY Mid Cap 150 Momentum 50 Index

Sector Weightage (%)
Financial Services  28.19
Healthcare 19.61
Capital Goods  16.23
Realty 9.01
Metals & Mining  6.22
Automobile and Auto Components  5.72
Information Technology 4.87
Chemicals  4.30
Power 3.80
Textiles 0.66
Construction Materials  0.62
Media, Entertainment & Publication  0.48
Consumer Durables 0.30

[Source: nseindia.com] Data updated as of Mar 28, 2024

Mid Cap Companies in Portfolio of the Nifty Mid Cap 150 Momentum 50 Index

canara-nfo-industry-brandscanara-nfo-industry-brands

FAQs

  • Which Canara HSBC plans offer the Canara HSBC Life Mid Cap Momentum Growth Fund?

    You can invest in the Canara HSBC Life New Mid Cap Momentum Growth Fund by purchasing the following investment plans:
    • Canara HSBC Capital Guarantee Solution

    • Canara HSBC Child Plan Capital Guarantee Child Plan - WOP

    • Canara HSBC Capital Guarantee Retirement Plan 

    • Canara HSBC Promise4Growth Wealth Plan

    • Canara HSBC Promise4Growth Care Child Plan

    • Canara HSBC Promise4Growth Life Retirement Plan

  • Is it good to invest in Canara HSBC Life Mid Cap Momentum Fund Growth Index NFO?

    Investing in Canara HSBC Life Mid Cap Momentum Growth Index Fund NFO could be beneficial for investors seeking exposure to mid-cap stocks with growth potential. However, it is essential to consider several factors before investing, such as your risk tolerance, investment goals, and the fund's investment strategy.
  • What are the tax benefits of the Canara HSBC Life Mid Cap Momentum Fund?

    You can avail of deductions of up to ₹1.5 lakhs on premium payment under Section 80C of the Income Tax Act, 1961, by investing in the Canara HSBC Life Midcap Fund. Additionally, you can enjoy tax-free maturity amount under Section 10(10D) if your yearly premium is below Rs. 2.5 lakhs.
  • Is Canara HSBC Momentum Fund or Canara HSBC Life Insurance investment fund risky?

    When considering investment options like the Canara HSBC Momentum Fund or the Canara HSBC Life Insurance investment fund, it's essential to understand that all investments carry some level of risk. These funds typically invest in a variety of assets, such as stocks, bonds, and other securities, and funds that invest in equities (stocks) tend to carry higher risk. It is important for you to assess your risk tolerance and investment goals before choosing any investment option.
  • How to calculate returns on my Canara HSBC Life Mid Cap Momentum Growth Index Fund?

    You can estimate your returns from Canara Midcap Momentum Fund easily with an SIP calculator. It helps you to predict how much you could earn through SIP investments.
  • What is the NAV of Canara HSBC Life Mid Cap Momentum Growth Index Fund NFO?

    The initial Net Asset Value (NAV) of the Canara Midcap Momentum Fund NFO is Rs. 10 per unit. You can invest in this Canara HSBC April NFO between April 1 and April 30, 2024.
  • Who should invest in the Canara HSBC Life Mid Cap Momentum Fund?

    The following category of investors can invest in Canara HSBC Midcap Momentum 150 Fund:
    • Investors seeking exposure to mid-cap companies with strong growth potential

    • Those looking for a fund managed by experienced professionals with a focus on mid-cap momentum

    • Individuals aiming to diversify their portfolio with mid-cap stocks

    • Investors with a high-risk tolerance

    • Those who believe in the long-term growth prospects of mid-cap companies

    • Individuals seeking potentially higher returns compared to large-cap or small-cap funds

  • How does the Canara HSBC Life Mid Cap Momentum Growth Index Fund benchmark its performance?

    The Canara HSBC Life April NFO in 2024 measures its growth by tracking the NIFTY Midcap 150 Momentum 50 Index.

*Past 5 Year annualised returns as on 01-04-2024
*All savings plans are provided by the insurer as per the IRDAI approved insurance plan. Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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Fund Reviews & Ratings
4.6 / 5 (Based on 20 Reviews)
(Showing Newest 10 reviews)
Sunita
Puri, April 18, 2024
Wise Investment Decision
Investing in Canara HSBC Momentum Fund was a wise decision.
Rohit
Dhanbad, April 18, 2024
Exceptional Returns
Canara HSBC Momentum Fund delivers exceptional returns very satisfied.
Meera
Siliguri, April 16, 2024
Impressive Profits
Impressive profits with Canara HSBC Momentum Fund highly recommend.
Arjun
Jamshedpur, April 16, 2024
Satisfactory Transaction
Effortless transaction satisfied with fund selection.
Nandini
Cuttack, April 16, 2024
Stress free Purchase
Policybazaar makes fund purchase stress free.
Vikram
Ranchi, April 14, 2024
Quality Service
Impressed with Policybazaars service quality.
Anjali
Guwahati, April 13, 2024
Effortless Investing
Policybazaar made investing effortless thumbs up
Sanjay
Patna, April 12, 2024
Convenient Purchase
I recommend Policybazaar for convenient Canara HSBC Midcap Momentum Fund purchase.
Priya
Bhubaneswar, April 11, 2024
User friendly Platform
User friendly platform purchased Canara HSBC Midcap Momentum with ease.
Rajesh
Kolkata, April 10, 2024
Impressive Investment
Impressed with Canara HSBC Midcap Momentum Fund purchase via Policybazaar.
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