Publish Date:
PGIM India Mutual Fund has launched – PGIM India CRISIL IBX Gilt Index – Apr 2028 Fund
It is an open-ended Target Maturity Index Fund investing in constituents of the CRISIL-IBX Gilt Index - April 2028. A relatively high interest rate risk and relatively low credit risk.
Accordingly, the investment objective of the scheme is to generate returns that corresponds to the total returns of the securities as represented by the CRISIL-IBX Gilt Index-April 2028 (before fees and expenses), subject to tracking errors. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee/ indicate any returns.
Under normal circumstances, PGIM India CRISIL IBX Gilt Index – Apr 2028 Fund will hold an allocation of 95% to 100% of its assets in Securities # comprising the CRISILIBX Gilt Index - April 2028 and 0% to 5% in Money Market Instruments, Government securities, T- Bills, including Triparty Repo, cash and cash equivalents and units of liquid mutual fund.
As per the Scheme Information Document, PGIM India CRISIL IBX Gilt Index – Apr 2028 Fund will invest in the securities included in its underlying index regardless of their investment merit. The underlying investments may be affected by a general decline in the Indian markets relating to its Underlying Index and the AMC does not attempt to take defensive positions during such declining markets. Further, the fund manager does not make any judgment about the investment merit nor shall attempt to apply any economic, financial or market analysis. The fund manager’s endeavour would be to rebalance the portfolio in order to replicate the underlying index.
PGIM India CRISIL IBX Gilt Index – Apr 2028 Fund’s performance will be benchmarked against CRISIL-IBX Gilt Index - April 2028.
The scheme will be managed by Mr Puneet Pal and Mr Bhupesh Kalyani.
The NFO opens for subscription on February 02, 2023 and closes on February 16, 2023. The schemes will reopen for continuous sale and repurchase within 5 business days from the date of allotment of units under NFO.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 5000/- and in multiples of any amount thereafter.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum Capital Withdrawal (IDCW).