ICICI Pru launches product to protect customer from volatility

MUMBAI: ICICI Prudential Life Insurance today launched ICICI Prudential LifeTime Maxima, a wealth solution based on the 'Trigger Portfolio' strategy.

The 'Trigger Portfolio' strategy allows a customer to book profits made in the equity market and protects them from any future market volatility.

The gains are transferred to a liquid fund (Money Market Fund) thereby ensuring that any volatility in future does not erode the value of the accumulated profits.

"This innovative product, based on the 'Trigger Portfolio' strategy allows customers to maintain a pre-defined asset allocation structure and take advantage of substantial swings in the equity market," ICICI Prudential Life Senior Vice President and Head (Products and Sales), Pranav Mishra, told.

Under the 'Trigger Portfolio' strategy, the investments would initially be distributed between two funds--Multi Cap Growth Fund (equity oriented fund) and Income Fund (debt oriented fund) in a 75:25 proportion.

The funds would be re-balanced or reallocated in the portfolio based on a pre-defined 'trigger event' which is a 15 per cent upward or downward movement in NAV of Multi Cap Growth Fund.

The product also provides the customer an option to choose a fixed portfolio strategy.