Principal MF launches “Principal Index Fund - Midcap”; NFO to close on May
09
Principal Mutual Fund has launched a new open ended index scheme named “Principal Index Fund - Midcap”. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on May 09. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5000. The options available under the Plan of the Scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against CNX Midcap Index. Rupali Pandit will be the Fund Manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to build an income oriented portfolio and generate returns will be met by investing in a portfolio of CNX Midcap Index Stocks and money market instruments. Hence, the scheme will allocate 95 to 100 per cent of asset in CNX Midcap Index Stocks and 0 to 5 per cent of asset in money market instruments with less than 1 year residual maturity.
Principal Mutual Fund has launched a new open ended index scheme named “Principal Index Fund - Midcap”. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on May 09. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5000. The options available under the Plan of the Scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against CNX Midcap Index. Rupali Pandit will be the Fund Manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to build an income oriented portfolio and generate returns will be met by investing in a portfolio of CNX Midcap Index Stocks and money market instruments. Hence, the scheme will allocate 95 to 100 per cent of asset in CNX Midcap Index Stocks and 0 to 5 per cent of asset in money market instruments with less than 1 year residual maturity.
