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Mutual fund company Principal Pnb will soon launch its first fund of funds scheme, which is aimed at long-term wealth creation. The fund will invest in existing principal schemes and investors will have the option of choosing from among three strategies – conservative, moderate and aggressive.
The conservative strategy will invest between 0 and 30 per cent in equities and the remaining in fixed income. The moderate strategy will invest between 20 and 60 per cent in equities, while the aggressive strategy will invest between 70 and 90 per cent.
Rajat K Jain, Chief Investment Officer, Principal Pnb Asset Management Company, says the fund house will tap its strong retail franchise for the new scheme. “Investors are now willing to wait longer for their returns and are open to the idea of sitting out the bad periods,” Jain said.
“Mutual fund investors are here for the long-term.”
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