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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
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Last Updated: Jan 15, 2021, 03:59 PM IST
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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.
This is how mutual funds came to rescue new investors in pandemic-ravaged 2020 PTI
New Delhi: For long mutual funds have been trying to attract investors as tools for contingency savings the year 2020 saw one of the most unexpected events unfold when the COVID-19 pandemic engulfed the entire world.
After wild swings in a pandemic-ravaged year, the stock market finally appears to end with unusually high gains, which coupled with robust inflows in fixed income schemes helped mutual funds add a staggering Rs 3.5 lakh crore to their asset base in 2020.
Experts believe the new year is expected to be even brighter for the industry.
Mutual funds attract new investors, add to their wealth in pandemic-ravaged 2020
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Last Updated: Dec 28, 2020, 09:39 AM IST
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Synopsis
After wild swings in a pandemic-ravaged year, the stock market finally appears to end with unusually high gains, which coupled with robust inflows in fixed income schemes helped mutual funds add a staggering Rs 3.5 lakh crore to their asset base in 2020.
The AUM of the mutual fund industry grew by 13 per cent to an all-time high of Rs 30 lakh crore in 2020 by November-end itself, from Rs 26.54 lakh crore at the end of December 2019
For long mutual funds have been trying to attract investors as tools for contingency savings the year 2020 saw one of the most unexpected events unfold when the COVID-19 pandemic engulfed the entire world.