Pramerica Mutual Fund has filed a draft offer document with SEBI to launch its open ended Retirement & Pension Fund. The scheme aims to generate long term capital appreciation by investing in a portfolio of equity and debt securities.
The benchmark of the scheme is CNX Nifty Index , CRISIL Long Term Debt Index and CRISIL Liquid index. The scheme will charge the exit loads of three percent if redeemed before 1 year, two percent if redeemed between 1 to 2 years and one percent if redeemed between the periods of 2 to 5 years. No exit load will be charged thereafter. The minimum application amount of investment is Rs 5000. Brahmaprakash Singh and Mahendra Jajoo will co-manage the fund.
