PGIM India Mutual Fund :PGIM India Mutual Fund today launched its new fund offer PGIM India Multi Cap Fund. It is an open-ended equity scheme investing in large-cap, mid-cap and small-cap stocks. The fund is benchmarked against Nifty 500 Multicap 50:25:25 TRI. This New Fund Offer (NFO) is opening for subscription on 22 August 2024 and will close on 5 September 2024. One can invest in this scheme with a minimum of Rs 5000. After which any amount can be invested in multiples of Rs 1.
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Schemes investing across all market caps
PGIM India Multi Cap Fund will invest in all three categories of market cap i.e. largecap, midcap and smallcap stocks. At least 25% of the investment by the scheme will be made in all three categories. While the remaining 0-25% will generally be invested in ground-up opportunities in any or all of the three market cap buckets. The scheme also has a provision to take exposure of up to 25% in debt, up to 10% in REITs and InvITs and up to 20% in foreign securities including overseas ETFs. The equity portion of the scheme will be managed by Vivek Sharma, Ananda Padmanabhan Anjaneyan and Utsav Mehta, while the debt portion will be managed by Puneet Pal.
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Multicap: Best strategy in the current environment
Ajit Menon, CEO, PGIM India Asset Management, says that given the near-term volatility in equity markets, many investors may be confused about where to invest now. However, it depends on the individual, risk-taking ability and investment goals of each investor. But a simple answer can be to invest in a disciplined manner across all market caps. The multi-cap strategy provides investors with a disciplined way to diversify their exposure to all market caps.
Quality stocks in the portfolio
Vinay Pahadia, CIO, PGIM India Asset Management, says, “We believe this is a good time to invest in a diversified portfolio of good quality and high growth companies, as they have underperformed in the last few years despite strong growth in their intrinsic values. We have seen early signs of better performance of this strategy in the last few months after the election results and the change in monetary policy by the Bank of Japan.”
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Balance Portfolio
Vivek Sharma, Senior Fund Manager – Equity, PGIM India Asset Management, said that there are good long term opportunities across market capitalisations that will benefit from India’s growth. To take advantage of this, we need careful stock selection and a balanced portfolio. Exposure to all market capitalisations is important at all times, which also varies in the right proportion according to the availability of opportunities. PGIM India Multi Cap Fund aims to follow just this strategy.
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The multi-cap strategy involves a balance of investing in both well-established and fast-growing sectors in the mid- and small-cap segments. As market leaders or winning companies in their sectors move across different market caps, a multi-cap fund provides disciplined exposure across different market caps, regardless of their size.
(*Our research shows that Nifty 500 Multicap 50:25:25 TRI has outperformed Nifty 500 TRI in 11 out of the last 19 years from 31-Dec-05 to 31-Jul-24.)
(Note: Here we have given information about the new scheme of mutual fund. This is not an investment advice. There are risks in the market, so invest only after taking advice from experts.)
