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Thursday, May 08, 2014

Principal Index Fund – Midcap Floats On

NFO period is from 07 May to 09 May 2014 

Principal Mutual Fund has unveiled a new fund named as Principal Index Fund – Midcap, an open ended index scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 07 May and close on 09 May 2014. 

The investment objective of the scheme is to invest principally in securities that comprise CNX Midcap Index and subject to tracking errors endevour to attain results commensurate with the CNX Midcap Index. 

The scheme offers growth and dividend option. Dividend option under both the plans will have the facility of Payout, re-investment and Sweep. 

The scheme will invest 95%-100% of assets in CNX Midcap Index stocks with high risk profile and invest upto 5% of assets in money market instruments with less than residual maturity (including reverse repos in government securities, as may be permitted by SEBI / RBI and units of liquid mutual fund schemes) with low to medium risk profile. 

The minimum application amount is Rs 5000 and any amount thereafter under each plan / option. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period. 

Entry Load: Not applicable. 

Exit Load: Nil. 

Benchmark Index for the scheme is CNX Midcap Index. 

The fund manager of the scheme is Rupali Pandit.
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