PGIM India Mutual Fund launches India’s 1st Global Real Estate Securities Fund - NFO opens on 15 Nov; closes on 29 Nov

PGIM India Mutual Fund has announced the launch of PGIM India Global Select Real Estate Securities Fund of Fund, an open-ended equity fund of fund scheme investing in PGIM Global Select Real Estate Securities Fund. 

PGIM India Mutual Fund in a statement said, "The fund is India’s first Global Real Estate Securities Fund. The NFO will open for subscription on November15, 2021 and will close on November 29, 2021. The Benchmark Index of the fund is FTSE EPRA NAREIT Developed Index.The primary investment objective of the scheme is to generate long- term capital appreciation from investing in the units of PGIM Global Select Real Estate Securities Fund, which primarily invests in REITs and equity related securities of real estate companies located throughout the world."

Commenting on the launch, Rick Romano, MD, PGIM Real Estate and Head of Global Real Estate Securities Business, said, “Today’s investment opportunities span a wide range of categories, including capitalizing on favourable occupier momentum linked to accelerated changes in how real estate is used, investing in assets that require some short-term repositioning and finding value in parts of the market that have undergone a long-term correction. As concerns around new variants of COVID ease, allowing workplaces and service-oriented industries to reopen more fully, occupier sentiment is expected to return quickly supporting a rebound in real estate space demand."

Ajit Menon, CEO, PGIM India Mutual Fund, added, “It is our endeavor to bring relevant and timely investment ideas to Indian investors and advisors. We are therefore proud to present our parent PGIM’s global expertise in this asset class. It’s various sub-themes like grade A commercial, self-storage, logistics, last mile retail, senior living, cold storage etc. are either not available in India or not available at scale as investible securities compared to global markets. With interest rates and inflation where they are today, this strategy will be an important addition to build resilience in client portfolios for times ahead."