ThinkStock Photos
PGIM India Mutual Fund has launched the ‘PGIM India Balanced Advantage Fund’. The NFO will open for subscription till January 29, 2021. The fund will be benchmarked against CRISIL Hybrid 50+50 Moderate Index. The Fund will be managed by Aniruddha Naha (for equity investments), Kumaresh Ramakrishnan (for debt and money market investments) and Anandha Padmanabhan (for overseas investments).
According to the fund house, the scheme aims to provide capital appreciation and income distribution to the investors by dynamically managing the asset allocation between equity and fixed income using equity derivatives strategies, arbitrage opportunities and pure equity investments. The scheme seeks to reduce the volatility by diversifying the assets across equity and fixed income.
PGIM India eyes Rs 500 cr from balanced advantage fund
SECTIONS
Last Updated: Jan 15, 2021, 03:59 PM IST
Share
Synopsis
The new fund, which is an open-ended dynamic asset allocation fund with a floor of minimum 30 per cent equity, closes on January 29, PGIM said.
PGIM India Mutual Fund on Friday launched its maiden balanced advantage fund from which it expects to garner at least Rs 500 crore.
The new fund, which is an open-ended dynamic asset allocation fund with a floor of minimum 30 per cent equity, closes on January 29, PGIM said.
This product tries to deliver reasonable downside protection and lower volatility, making it suitable for investors who are seeking capital appreciation over a long period and is categorized as equity-oriented scheme.