Principal Asset Management has launched a large cap fund that will invest in both Indian and US stocks.
The new fund offer, which opened for subscription on Monday, will close on October 12.
The open-ended fund will allocate 80-85 per cent of its corpus to the top 100 Indian large cap stocks and actively invest up to 15 per cent in US stocks with over $50 billion market cap. The large cap fund will aim to provide growth in India and the US besides from depreciating currencies.
The fund, which will have a diversified portfolio of 50 to 60 companies, will be benchmarked against the Nifty 100 Total Return Index. The fund will draw from Principal’s proprietary global research expertise and experience and its robust investment framework for selection of US stocks, said a release.
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Bharat Ravuri, Managing Director, Principal Asset Management, said a…