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PGIM India Mutual Fund has launched PGIM India Healthcare Fund.
The scheme will invest in equity and equity related securities of healthcare and pharmaceutical companies. The fund is benchmarked against BSE Healthcare TRI.
Healthcare involves industries like pharmacy, diagnostics, hospitals, health insurance, healthcare manufacturing encompasses CRAMS (Contract Research and Manufacturing Services), medical devices, specialty chemicals, formulations and API (Active Pharmaceutical Ingredient) among others.
In a press release, Ajit Menon, CEO, PGIM India MF, said, “The fund focuses on India’s burgeoning healthcare sector which benefits from low cost, innovation, growing awareness for health insurance, rising FDI inflows and growing medical tourism and more.”
Vinay Paharia, CIO, PGIM India Asset Management, said, “Indian healthcare sector is likely to witness multiple tailwinds like stable and growing domestic demand, strong pricing power, superior exports potential due to India's competitive advantage and China +1 strategy being pursued by global pharma industry.”
Anandha Padmanabhan Anjeneyan, Vivek Sharma and Utsav Mehta will co-manage the equity part while the debt portion will be managed by Puneet Pal.
