PGIM India Mutual Fund garners Rs. 578 cr in NFO
Investment objective of the scheme is to achieve long-term capital appreciation by predominantly investing in equity and equity related instruments of small cap companies
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Mumbai: PGIM India Mutual Fund has garnered Rs 578 crore through its Small Cap Fund, new fund offer (NFO) that was open for subscriptions during July 9 - 23. The NFO received over 37,000 applications and was distributed by more than 3,000 partners. The investment objective of the scheme is to achieve long term capital appreciation by predominantly investing in equity and equity related instruments of small cap companies.
The fund is managed by Aniruddha Naha (for equity investments), Kumaresh Ramakrishnan (for debt and money market investments) and Ravi Adukia (for overseas investments). "We are overwhelmed by the tremendous response the fund has received and I would like to thank all our investors and advisors for their support and belief in our fund house,'' said Ajit Menon, CEO, PGIM India Mutual Fund.
The Benchmark Index of the PGIM India Small Cap Fund is the Nifty Small Cap 100 Total Return Index and the scheme's investment strategy is to capture opportunities available in the small cap segment. The fund shall invest a minimum of 65 per cent of its corpus in the small cap companies. The scheme may also seek to participate in the growth of other equity and equity related instruments in order to achieve optimal portfolio construction. Investors are requested to note that the fund house has decided to limit the subscriptions in the ongoing offer of PGIM India Small Cap Fund by way of fresh/ additional purchases, switch ins, Systematic Investment Plan, Systematic Transfer Plan and other facilities/ special products offered under the Scheme to Rs 10 lakh per application/per installment with effect from August 2 until further notice.
