Axis Max Life Insurance Ltd, (formerly Max Life Insurance Company Ltd), has announced the launch of its first new index based fund 'Axis Max Life Sustainable Wealth 50 Index Fund'. This customised Index Fund will be computed and maintained by NSE Indices Limited, aims to invest in consistent cash flow-generating companies to fuel their growth based on the proprietary Sustainable Yield Index. The objective of the Fund is to invests in 50 top-performing stocks. These are selected using a proprietary, equal-weight, factor-based quantitative index. The top-performing stocks are identified from the NSE 500 universe based on free cash flow yield (FCF Yield) for non-financial companies and dividend yield for financial companies. The fund maintains a strategic asset allocation of 80-100% in equity and 0-20% in cash and money market instruments. Sachin Bajaj, EVP and Chief Investment Officer at Axis Max Life, said, "The launch of the Axis Max Life Sustainable Wealth 50 Index Fund reaffirms our commitment to providing value-driven investment options that address evolving market dynamics and investor priorities. This fund leverages the power of a unique, factor-based index that identifies companies with robust cash flows, based on our internal methodology." Mukesh Agarwal, CEO of NSE Indices Limited, said, "We have worked with Axis Max Life Insurance to create this customised index based on Axis Max Life Insurance's methodology. The customized index will be computed and maintained by NSE Indices Limited." "As the first proprietary index fund in the insurance industry, the Axis Max Life Sustainable Wealth 50 Index Fund offers exclusive access to a quantitative, factor-based index. It aligns with growing investor demand for sustainable and value-driven investments. By focusing on companies with strong cash flows and consistent growth potential, the fund caters to customers seeking stability and performance," the company said in a press release. At present the fund is available through Axis Max Life's Online ULIP products, including the Online Savings Plan and Flexi Wealth Advantage Plan. This will be extended to additional products in the future.