Publish Date:
PGIM India Mutual Fund has launched an open-ended fund of fund scheme - PGIM India Global Select Real Estate Securities Fund of Fund.
The scheme will be investing its assets in in units of PGIM Global Select Real Estate Securities Fund.
The primary investment objective of the Scheme is to generate long term capital appreciation from investing in the units of PGIM Global Select Real Estate Securities Fund, which primarily invests in REITs and equity and equity related securities of real estate companies located throughout the world. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee/ indicate any returns.
PGIM India Global Select Real Estate Securities Fund of Fund is mandated to invest 95% to 100% of its net assets in Units/securities of PGIM Global Select Real Estate Securities Fund, domiciled in Ireland and 0% to 5% of the net assets in Debt Instruments including Government Securities, Corporate Debt, Money Market Instruments, (including cash and units of mutual funds).
The scheme will invest in units of PGIM Global Select Real Estate Securities Fund (the underlying fund).
About PGIM Global Select Real Estate Securities Fund (the Underlying Fund):
The Underlying PGIM Global Select Real Estate Securities Fund aims to provide long term capital appreciation. The Underlying Fund seeks to achieve its objective through investments primarily in equity and equity related securities of real estate companies located throughout the world.
The Investment Manager takes a value-oriented approach to investing, based upon assessments of the fundamental value of real estate assets and of the performance and record of management teams of real estate companies. The Investment Manager analyses the quality of real estate asset cash flows and sustainability and growth of company dividends while evaluating a company’s strategy, management track record of delivering high return on equity, alignment of interest and an assessment of their ability to continue to outperform the market.
PGIM Global Select Real Estate Securities Fund will invest in common and preferred stock, real estate investment trusts (“REITs”) and preferred REITs, real estate operating companies, exchange traded funds, depository receipts (which are securities issued by a financial institution which evidence ownership interests in a security or a pool of securities deposited with the financial institution), rights (securities giving shareholders entitlement to purchase new shares issued by a company at a predetermined price in proportion to the number of shares already owned) and warrants (derivative securities that give the holder the right to purchase securities from the issuer at a specific price within a certain time frame).
Investment Restrictions (as determined at the time of purchase and under normal market conditions)
A. PGIM Global Select Real Estate Securities Fund will invest at least 80% of NAV in equity and equity related securities of real estate companies located throughout the world.
B. PGIM Global Select Real Estate Securities Fund will invest in a minimum of three countries. The percentage limitation described above will be measured at the time of purchase and may be exceeded due to factors such as market movements.
PGIM Global Select Real Estate Securities Fund will invest in developed and emerging markets without particular focus on any one geographical location. The Underlying Fund will not invest more than 20% of its net assets in equity and equity related securities of real estate companies located in emerging markets.
PGIM India Global Select Real Estate Securities Fund of Fund’s performance will be benchmarked against FTSE EPRA/NAREIT Developed Index.
The fund will be managed by Mr Ravi Adukia.
The NFO opens for subscription on November 15, 2021 and closes on November 29, 2021. The scheme will reopen for continuous sale and repurchase on or before: December 08, 2021.
The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The fund offers Regular Plan and Direct Plan having Growth Option and Income Distribution cum Capital Withdrawal (IDCW) Option (Re-investment and Pay-out facilities).