Principal Asset large cap fund to invest in Indian and US markets

Our Bureau Mumbai | Updated on September 28, 2020 Published on September 28, 2020

NFO closes on October 12

Principal Asset Management has launched a large cap fund that will invest in both Indian and US stocks.

The new fund offer, which opened for subscription on Monday, will close on October 12.

The open-ended fund will allocate 80-85 per cent of its corpus to the top 100 Indian large cap stocks and actively invest up to 15 per cent in US stocks with over $50 billion market cap. The large cap fund will aim to provide growth in India and the US besides from depreciating currencies.

The fund, which will have a diversified portfolio of 50 to 60 companies, will be benchmarked against the Nifty 100 Total Return Index. The fund will draw from Principal’s proprietary global research expertise and experience and its robust investment framework for selection of US stocks, said a release.

Also read: How to invest in US equities

Bharat Ravuri, Managing Director, Principal Asset Management, said a globally diversified portfolio will help investors to take advantage of market cycles in two different economies and partake in the returns of the companies in the US, while also trying to mitigate the country risk.

Mirae debt fund

Mirae Asset Investment Managers, meanwhile, has come out with a new ultra short duration debt fund that will make three-to-six-month investments. The NFO, which opened for subscription, will close on October 6.

Also read: Planning to invest in debt funds? Here’s a checklist

The scheme will re-open for continuous sale and repurchase from October 8. The open ended debt scheme will invest in debt and money market instruments carrying high ratings.

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Published on September 28, 2020
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