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Modification in NAV computation

As stipulated by the IRDA vide its circular dated July 29, 2011, the formula for computation of the Net Asset Value per Unit (NAV) for Linked funds stands modified.

Old formula as prescribed by IRDA and as contained in the policy document:
Market value of the investment plus / (minus) expenses incurred in the purchase / (sale) of assets plus current assets and accrued interest (net of fund management charges) less current liabilities and provisions, divided by, number of units outstanding under the fund at valuation date (before creation / redemption of units).

Modified formula as stipulated by IRDA effective August 18, 2011:
Market value of the investment held by the fund plus value of current assets less value of current liabilities and provisions, if any and divided by the number of units existing on the valuation date (before creation/redemption of units).

The provisions on NAV computation as available in the unit linked policy documents shall accordingly stand modified. Suitable policy endorsements are being issued.

Change in the valuation policy of Equity Share

Please note that PNB MetLife India Insurance Company Limited (“PNB MetLife”) has selected the National Stock Exchange (“NSE”) as its primary exchange, and the Bombay Stock Exchange (BSE) as its secondary exchange for the purpose of valuating the equity shares held by it by way of investments. Accordingly, with effect from 25th Nov 2013, PNB MetLife will be using the closing price of the NSE for the purpose of valuating the equity shares. In the event that the equity(ies) is/are not listed or traded on the NSE, the closing price of the BSE will be used. Till the above mentioned date, PNB MetLife will be valuing the equity shares at the lower of the closing price at the NSE and the BSE.

Return Guarantee Fund- I - (ULIF01415/12/09RETGUARFND117)

Please be informed that our investment fund named “Return Guarantee Fund- I - (ULIF01415/12/09RETGUARFND117)” stands closed / discontinued with effect from 30th January, 2015 as it has completed five years from the end of the subscription period. No NAV will be declared for this fund after 30th January, 2015

Return Guarantee Fund- II - (ULIF01519/02/10RETGUARFN2117)

Please be informed that our investment fund named “Return Guarantee Fund- II - (ULIF01519/02/10RETGUARFN2117)” stands closed / discontinued with effect from 30th March, 2015 as it has completed five years from the end of the subscription period. No NAV will be declared for this fund after 30th March, 2015.

NAV Guarantee Fund - (ULIF01616/11/10NAVGUARANT117)

Please be informed that our investment fund named “NAV Guarantee Fund ULIF01616/11/10NAVGUARANT117” stands closed / discontinued with effect from 30th March, 2016 as it has completed five years from the end of the subscription period. No NAV will be declared for this fund after 30th March, 2016.