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PGIM India Mutual Fund has launched PGIM India Large and Mid Cap Fund, an open-ended equity scheme investing in both large cap and mid cap stocks.
The fund will invest a minimum of 35% each in large caps and mid cap stocks, respectively.
In a press release, Vinay Paharia, CIO, PGIM India MF said, “There is a continuing opportunity for investing in high growth and good quality large and mid cap companies which can take advantage of the India growth story. Such companies can continue to compound capital at a rapid pace in a capital-efficient manner for a long period of time.”
Ajit Menon, CEO, PGIM India MF said, “Portfolios following a style with a predominance of good quality and high growth companies have relatively underperformed in recent times. This provides an attractive opportunity for investors to accumulate units in a large and mid cap fund following this style at the current juncture. This fund is suitable for new investors as well as existing investors looking to rebalance and reduce any concentration risks in their current portfolio.”
Vinay Paharia, Anandha Padmanabhan Anjeneya and Utsav Mehta will co-manage the equity allocation and Puneet Pal will manage the debt allocation. Ojasvi Khicha will manage the overseas investments portion.
