PGIM India Mutual Fund launches new fund offer of PGIM India Balanced Advantage Fund

PGIM India Mutual Fund announced the launch of ‘PGIM India Balanced Advantage Fund’. The New fund offer (NFO) opened for subscription on January 15, 2021 and will close on January 29, 2021. The Benchmark Index of the fund is CRISIL Hybrid 50+50 Moderate Index. The scheme will invest in a mix of stocks and bonds in varying proportions to earn capital appreciation. Equity investments of the fund will be managed by Aniruddha Naha and bond investments of the fund will be managed by Kumaresh Ramakrishnan.

“A model based approach helps in automatically rebalancing investments between equity and fixed income in a tax efficient manner without the investor having to keep track herself,” said Mr. Ajit Menon – CEO, PGIM India Mutual Fund. The fund has the potential to deliver consistent long-term risk-adjusted returns & smooth investing experience by dynamically allocating money between equity and fixed income instruments, he added.

The minimum initial investment in the scheme is Rs. 5000. The scheme will follow a tax efficient dynamic asset allocation model as fund is categorized as equity oriented scheme. 65% minimum allocation to equity would be a mix of stocks and arbitrage.

Investors can use systematic investment plan to invest in this scheme. For investors willing to sign up for long term SIP there is a provision of life insurance at no extra cost.