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PGIM India Mutual Fund has garnered ₹578 Crore through its Small Cap Fund, NFO that closed for subscriptions on July 23.
The NFO received over 37,000 applications and was distributed by over 3,000 partners.
The fund house has decided to limit new subscriptions in the small-cap fund to ₹10 lakh per application per instalment with effect from August 2 until further notice.
The investment objective of the scheme is to achieve long-term capital appreciation by mainly investing in small-cap companies.
The Benchmark index for the fund is the Nifty Small Cap 100 Total Return Index. The fund will invest a minimum of 65 per cent of its corpus in the small-cap companies.
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