New Equity Mutual Fund from PGIM India: Targets Large and Mid-Cap Stocks
Jan 30, 2024
PGIM Mutual Fund launches – PGIM India Large and Mid-Cap Fund
It is an open-ended equity scheme investing in both large cap and mid cap stocks.
Accordingly, the investment objective of the Scheme is to seek long term capital growth through investments in equity and equity related securities of predominantly large cap and mid cap stocks. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee/ indicate any returns.
Under normal circumstances, PGIM India Large and Mid-Cap Fund will hold an allocation of 70% to 100% in Equity and Equity related Securities out of which, 35% to 65% is in Large Cap Companies, 35% to 65% is in Mid Cap Companies, 0% to 35% is in Other than Large Cap and Mid Cap Companies, 0% to 20% in Debt and Money Market Securities (including TREPS (Tri-Party Repo), Reverse Repo), 0% to 10% in Units issued by REITs & InvITs and 0% to 25% in Foreign securities including overseas ETFs.
As per the Scheme Information Document, PGIM India Large and Mid-Cap Fund will be predominantly invested in equity and equity related securities primarily comprising of large cap and mid cap stocks.
The aim of the Scheme is to seek long-term capital appreciation from an actively managed portfolio. The Scheme will endeavour to achieve this by allocating the investments to equity and equity related securities out of which at least 35% each will be towards large cap stocks and mid cap stocks.
The portfolio will be built utilizing a combination of the top-down and bottom-up portfolio construction process, focusing on the fundamentals of each stock, including quality of management. The fund manager will aim to build a diversified portfolio with exposure across sector
PGIM India Large and Mid-Cap Fund’s performance will be benchmarked against NIFTY LargeMidcap 250 Index TRI
The scheme will be managed by Mr. Vinay Paharia and Mr. Anandha Padmanabhan Anjeneya and Mr. Utsav Mehta are the equity fund managers for the scheme, Mr. Puneet Pal is the debt fund manager for the scheme and Mr. Ojasvi Khicha will manage the overseas investments for the scheme.
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The NFO opens for subscription on January 24, 2024 and closes on February 07, 2024. The schemes will reopen for continuous sale and repurchase Within five business days of allotment date.
The minimum subscription amount is Rs 5,000/- and in multiples of Re.1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth option and Income Distribution cum capital withdrawal Option (IDCW).