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Mumbai Jan. 22 Principal Pnb Asset Management Company has launched Principal Pnb Long Term Fund, a three-year close ended plan to achieve capital appreciation by investing in equity and equity-related instruments.

The new fund offer opens on January 24 and closes on February 21.

Mid-cap companies are defined as companies whose market cap is equal to or below Rs 3,500 crore, while small-cap companies are defined as companies with market cap below Rs 600 crore, as on the investment date.

Stocks selection will be primarily on a bottoms-up approach on stock-by-stock basis.

Strong companies

The fund will predominantly invest in fundamentally strong mid as well as small cap companies and has a minimum investment amount of Rs 5,000 each for dividend and growth options, and any amount thereafter under each option.

"The scheme will have a diversified portfolio of fundamentally strong mid, small cap companies with a bottoms-up stock selection process and no sector bias. The investment options offered are growth and dividend payout," said Mr R. Srinivasan, Fund Manager of Principal Pnb Asset Management Company Pvt Ltd.

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