Financial Daily from THE HINDU group of publications
Friday, Jun 02, 2006
Financial Daily from THE HINDU group of publications Friday, Jun 02, 2006 |
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Markets
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New Fund Offer Our Bureau
Mumbai , June 1 Principal PNB Asset Management Company in association with Vijaya Bank has announced the launch of `Principal Pnb Fixed Duration Fund 3 Year Plan-Series I,' a close-ended debt fund. It is on offer from May 22 to June 15. The fund has been positioned as a stable investment alternative to traditional long-term fixed income investments. The fund would invest a substantial portion of its portfolio in quality debt funds such as medium term AAA and AA rated papers maturing with the fund. The balance portion of the portfolio will be invested in equity shares of fundamentally strong companies with a focus on IPOs. Also, a portion would be invested in mid-cap and large cap stocks. The fund also offers triple indexation benefit that reduces the tax liability enabling it to deliver tax efficient returns to the investor. Two investment options — Growth and Dividend — are being offered. The minimum investment is Rs 5,000. At the launch, Mr Rajan Krishnan, Business Head - Asset Management, Principal Pnb Asset Management Company Pvt Ltd said, "The fund is for the long-term investor as it provides them the best of both worlds, capital preservation through debt investments along with the added potential for growth through equity IPOs."
More Stories on : New Fund Offer | Debt Market | Asset Management Companies
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