Mutual Fund News : Principal Mutual Fund to launch Principal Midcap Fund

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Principal Mutual Fund is about to launch an open ended equity scheme under the Mid Cap Funds Category, with an aim to invest in equity and equity related instruments of Midcap companies. The scheme will be known as Principal Midcap Fund.

The investment objective of the scheme is to generate long term capital appreciation by predominantly investing in equity and equity related instruments of Midcap companies. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.

The NFO will open for subscription on December 06, 2019 and close on December 20, 2019.

The fund will be managed by Mr. Ravi Gopalakrishnan and co-managed by Mr. Sudhir Kedia. Its performance will be benchmarked against Nifty Midcap 100 TRI.

The New Fund Offer will be priced at Rs 10 per unit and the minimum application amount for initial purchase will be Rs 5,000 and any amount thereafter.

The fund house will also introduce SMART and MY GAIN Facilities in Principal Midcap Fund.

While SMART Facility aims to protect against sharp fall in market and gradually allocate money from its liquid fund to the midcap fund on market falls, the My GAIN facility will help shift appreciated amount to another scheme of Principal Mutual Fund.