|Principal Mutual Fund has unveiled a new fund named as Principal Midcap Fund, an open ended equity scheme predominantly investing in mid cap stocks. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 06 December 2019 to 20 December 2019.
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.
The scheme offers regular and direct plan. Both the plans will have growth option and dividend payout & reinvestment and sweep facility.
The scheme will invest 65%-100% of assets in equity and equity related instruments of midcap companies with high risk profile and invest upto 35% of assets in equity and equity related instruments of other than midcap companies with high risk profile and invest upto 35% of assets in debt and money market instrument including units of debt & liquid schemes with low to medium risk profile.
The minimum application amount will be Rs. 5000/- For both dividend and growth option and any amount thereafter under each plan/ option.
The minimum additional purchase amount will be Rs. 1000/- 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.
Entry load: Not Applicable
Exit load: If redeemed/ switched on or before 365 days from the date of allotment: - Nil for redemption/ switch out of units upto 20% of the units allotted (the limit)
1% on redemption in excess of 20% of the limit stated above- Redemption of units would be done on First in First out Basis (FIFO)
The Benchmark Index for the scheme shall be NIFTY Midcap 100 Index - TRI
The fund managers of the scheme are Ravi Gopalakrishnan and Sudhir Kedia.
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