Large & Midcap Fund: PGIM India Mutual Fund today launched its open-ended PGIM India Large and Mid Cap Fund on January 24, 2024. Launch has been announced. The objective of this scheme is to provide high returns to investors and enhance their wealth in the long term through an actively managed portfolio by investing mainly in equity mutual funds and equity related securities of large cap and mid cap shares. It is an open ended equity scheme investing in both large cap and mid cap stocks. PGIM India Large & Mid Cap Fund opens for subscription on 24 January 2024 and will close on 7 February 2024. It will be benchmarked against Nifty LargeMidCap 250 Index TRI (Total Return Index).
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Investing in both large cap and mid cap stock categories
Through PGIM India Large and Mid Cap Fund, there will be at least 35 percent investment in both Largecap Stocks and Midcap Stocks categories. The portfolio will be constructed using a combination of top-down and bottom-up portfolio construction processes, focusing on the fundamentals of each stock, including the quality of management. The fund manager will aim to create a diversified portfolio with investments in different sectors.
There are opportunities to invest in large and mid caps
Vinay Pahadia, CIO, PGIM India Mutual Fund, said that opportunities continue to exist to invest in high growth and high quality large and mid cap companies, which are well positioned to take advantage of India's growth story. Such companies can also provide investors with the benefit of fast compounding in a capital-efficient manner over a long period of time.
Ajit Menon, CEO, PGIM India Mutual Fund, said that the portfolio following a style dominated by good quality and high growth companies has performed relatively poorly in recent times. This provides an attractive opportunity to investors to accumulate units in large and mid cap funds following this style at present. This fund is a better option for new investors as well as existing investors, who want to reduce any kind of risk while balancing their existing portfolio.
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The fund will reopen for continuous sale and repurchase within 5 business days from the date of allotment. The equity portion of the fund will be managed by Vinay Pahadia, Anand Padmanabhan Anjaneya and Utsav Mehta, while the debt portion will be managed by Punit Pal. Ojasvi Khicha will manage overseas investment for this scheme.
minimum investment amount
Initial purchase/switch-in into PGIM India Large & Mid Cap Fund can be done with a minimum of Rs 5000 and thereafter any amount can be invested in multiples of Re 1. Additional purchases can be made with a minimum amount of Rs 1000 and thereafter in multiples of Re 1. Whereas for SIP, at least 5 installments will be required, minimum investment of Rs 1000 is required for each installment, after which SIP can be done with any amount in multiples of Re 1.
For every purchase of units through lump sum/switch-in/Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP), the exit load will be as follows-
For exit within 90 days from the date of allotment of units: 0.50%
For exit after 90 days from the date of allotment of units: Nil