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NFO alert: PGIM India Mutual Fund launches PGIM India Large and Midcap Fund; details inside

18 September 20246 mins read by Angel One
In the following article we shed light on NFO, the fund’s objective, fund allocation, fund managers and peer performance.
NFO alert: PGIM India Mutual Fund launches PGIM India Large and Midcap Fund; details inside
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PGIM India Large and Midcap Fund is an open-ended equity scheme launched on January 24, 2024, that invests in both large-cap and mid-cap stocks to achieve long-term capital growth. It has a minimum investment of Rs 5,000 and an exit load of 0.50% if redeemed within 90 days of allotment. The new fund offer is open for subscription until February 7, 2024.

Investment Objective

The investment objective of the scheme is to seek long-term capital growth through investments in equity and equity-related securities of predominantly large-cap and mid-cap stocks. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee/ indicate any returns.

Funds Allocation

Instruments Indicative Allocations (% of total assets) Risk Profile
Equity and Equity related Securities 70% – 100% Very High
a) Large Cap Companies* 35% – 65% Very High
b) Mid Cap Companies* 35% – 65% Very High
c) Other than Large Cap and Mid Cap Companies* 0% – 30% Very High
Debt and Money Market Securities (including TREPS (Tri-Party Repo), Reverse Repo) 0% – 20% Low to Medium
Units issued by REITs & InvITs 0% – 10% Very High
Foreign securities including overseas ETFs 0% – 25% Very High

Definition of Large Cap, Mid Cap and Small Cap Companies:

  • Large Cap Companies shall be 1st -100th company in terms of full market capitalisation;
  • Mid Cap Companies shall be 101st -250th company in terms of full market capitalisation; and
  • Small Cap Companies shall be 251st company onwards in terms of full market capitalisation

Benchmark Index

The Benchmark for the Scheme is NIFTY LargeMidcap 250 Index TRI.

The NIFTY Large-Midcap 250 reflects the performance of a portfolio of 100 large-cap and 150 mid-cap companies listed on the NSE, represented through the NIFTY 100 and the NIFTY Midcap 150 index respectively. This index intends to measure the performance of large and mid-market capitalisation companies with the aggregate weight of large-cap stocks and mid-cap stocks being 50% each, reset on a quarterly basis.

Benchmark and Category Historical Returns

Category 6 M 1 Y 2 Y 3 Y 5 Y
Nifty 50 9.98% 23.01% 11.93% 16.77% 14.93%
Benchmark: Nifty Large-Midcap 250 TRI 19.62% 40.43% 19.76% 25.35% 20.79%
Category Average 18.06% 38.21% 18.02% 24.78% 20.27%

Fund Managers

Name of Fund Manager Age Educational Qualification Experience
Vinay Paharia (Equity Portion) 43 years B. Com. and M.M.S 20 years of experience in Indian financial markets, primarily in equity research & Fund Management
Anandha Padmanabhan Anjeneya (Equity Portion) 41 years B. Com, ACA, CFA, FRM 15 years of experience in Indian financial markets, primarily in equity research
Utsav Mehta (Equity Portion) 36 years B.Com., CFA 13 years of experience in Equity market, research and fund management
Puneet Pal (Debt Portion) 44 years MBA 20 years of experience in the Debt markets within the Mutual Fund space
Ojasvi Khicha (Overseas Investment) 37 years CFA, MBA 12 years of experience in financial markets, primarily in equity research

Peer Large and Midcap Fund – Historical Performance

Scheme Name AuM (Cr) 6M 1Y 2Y 3Y 5Y 10Y
Mirae Asset Large & Midcap Fund – Direct Plan – Growth 32,492.17 18% 36% 15% 23% 22% 25%
Canara Robeco Emerging Equities – Direct Plan – Growth 19,904.48 12% 30% 13% 21% 19% 24%
SBI Large & Midcap Fund – Direct Plan – Growth 18,926.33 15% 33% 19% 25% 20% 19%
Kotak Equity Opportunities Fund – Direct Plan – Growth 17,782.63 14% 36% 20% 24% 21% 20%
HDFC Large and Mid Cap Fund – Direct Plan – Growth 15,021.94 21% 46% 24% 31% 22% 16%
Axis Growth Opportunities Fund – Direct Plan – Growth 10,722.03 14% 38% 13% 23% 22%
DSP Equity Opportunities Fund – Direct Plan – Growth 10,387.00 20% 38% 19% 24% 20% 19%
ICICI Prudential Large & Mid Cap Fund- Direct Plan – Growth 10,267.70 19% 38% 22% 30% 22% 18%
Tata Large & Mid Cap Fund – Direct Plan – Appreciation 6,183.79 12% 31% 19% 23% 20% 18%
Sundaram Large and Mid Cap Fund – Direct Plan – Growth 6,074.51 14% 32% 14% 23% 18% 19%

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.

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