Mutual Fund NFO: PGIM India Large and Midcap Fund opens, know minimum investment and other key details

Mutual Fund NFO: Asset management company PGIM India Mutual Fund has launched a new large and mid cap fund in the equity category. PGIM India Large and Midcap Fund opened for subscription on January 24, 2024, and would close on February 7, 2024. It is an open-ended equity scheme investing in both large- and mid-cap stocks.

Starting investment Rs 5000

The asset management company says that investment in PGIM India Large and Midcap Fund can be started with a minimum of Rs 5,000.

After that, any amount can be invested in multiples of Re 1.

A minimum of 5 installments will be required for SIP, while a minimum investment of Rs 1,000 is required for each installment, after which, SIP can be done with any amount in multiples of Re 1.

PGIM India Large & Mid Cap Fund will be benchmarked against the Nifty LargeMidCap 250 Index TRI (Total Return Index).

For every purchase of units through lump sum/switch-in/Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP), there is an exit load. Exit load is 0.50 per cent within 90 days from the date of allotment of units and exit load is nil after 90 days from the date of allotment of units.

The fund will reopen for regular sales and repurchase within 5 business days from the date of allotment.

The equity portion of the fund will be managed by Vinay Pahadia, Anand Padmanabhan Anjaneya, and Utsav Mehta, while the debt portion will be managed by Punit Pal.

Ojasvi Khicha will manage overseas investment for this scheme.

Who can invest

Vinay Pahadia, CIO, PGIM India Mutual Fund, said, “There continue to be opportunities to invest in high-growth and good quality large and mid-cap companies that can benefit from India’s growth story. “Such companies can also provide investors with the benefit of faster compounding through long-term capital-efficient returns.” 

This scheme can be helpful in long-term capital growth. PGIM India Large and Mid Cap Fund will invest at least 35 per cent in both large cap and mid cap share categories, it said. 

(Disclaimer: NFO details are given here. It is not an investment advice. Investing in mutual funds is subject to market risks. Consult your advisor before taking any investment decision.)