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PGIM India Mutual Fund has lifted the cap of ₹10 lakh on fresh investment in its recently launched small cap fund. The fund house had collected ₹578 crore through the small cap fund new fund offer in July.
It decided to limit fresh and additional purchases, Systematic Investment Plan, Systematic Transfer Plan and other facilities/special products offered under the scheme to ₹10 lakh per application/per instalment from August 2 until further notice.
Starting Wednesday, the fund will start accepting as much as the investors want to infuse in the scheme. The NFO received over 37,000 applications and was distributed by over 3,000 partners. Benchmarked to Nifty Small Cap 100, the fund will invest a minimum of 65 per cent of its corpus in the small cap companies.
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