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Mumbai, Sept. 22 Principal Mutual Fund launched the Principal Emerging Bluechip Fund on Monday.

The new fund offer, which opened for subscription on Monday, will close on October 10.

The open-ended equity scheme seeks to achieve long-term capital appreciation by investing in equity and equity- related instruments of mid-cap and small-cap companies. It will predominantly invest in mid-cap stocks and small-cap stocks to tap high growth opportunities offered by such stocks and for the purpose of maintaining liquidity, said a release.

The scheme’s portfolio may also include large-cap stocks to tap market opportunities, the release said. This fund will be benchmarked against the CNX Midcap Index.

“In current scenario, quality mid-caps are available at reasonable valuations even after factoring in the current volatility in the business environment and we intend to capitalise on such opportunities through this fund,” said Mr Rajat Jain, Chief Investment Officer, Principal Mutual Fund.

The fund will allocate 65-95 per cent of its corpus in equity and equity-related instruments of mid-cap companies, 5-15 per cent in equity and equity-related instruments of small-cap companies and up to 30 per cent in equity and equity related instruments of companies other than mid-cap and small-cap.

While the fund aims to allocate 70-100 per cent in equity, up to 30 per cent allocation will be towards cash and money market instruments including fixed income securities.

More Stories on : New Fund Offer | Mutual Funds

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