Pramerica Mutual Fund has filed a draft offer document with SEBI for the launch of its open ended Alpha Equity Fund. The scheme seeks to generate excessive returns by investing in the portfolio of equity and equity related instruments.
The benchmark of the scheme will be CNX Nifty Index. The fund will charge an exit load of one percent if redeemed before 395 days from the date of allotment. No exit loads will be charged thereafter. The minimum application amount will be Rs 5000. The fund will be co-managed by Brahmaprakash Singh and Mahendra Jajoo.
