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Thursday, January 29, 2009

Principal Growth Fund proposes to change in asset allocation

With effect from closure of business hours on 3 March 2009

Principal Pnb mutual fund has announced the revision in asset allocation pattern of Principal Growth Fund, an open-ended equity scheme. The restructure of this scheme shall be effected on closure of business hours on 3 March 2009.

According to the revised asset allocation pattern, the scheme will invests upto 65%-100% of its corpus in the equity and equity related instruments. It will invest upto 35% in the debt and money market instruments. Investment in securitised debt may be upto 35% of the net asset of the scheme.

The fund house may invest in derivatives upto 50% of the net assets of the scheme. The AMC further reserves the right to invest in ADRs / GDRs and / or overseas financial debt instruments including overseas mutual funds not exceeding 15% if the net assets of the scheme.

Existing asset allocation is as follows: the scheme invest its entire corpus in equity and equity related instruments and invest upto 10% in the debt and money market instruments, debt includes securitised debt.

The fund house may invest in derivatives upto 50% of the net assets of the scheme. The AMC further reserves the right to invest in ADRs / GDRs and / or overseas financial debt instruments including overseas mutual funds not exceeding 15% if the net assets of the scheme.

The investors who have objection for the above changes may exit from the scheme without payment of any exit load. The exit without payment of exit load can be exercised from 30 January 2009 to 2 March 2009 (upto 3 p.m) both days inclusive.

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