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Principal MF launches mid and small-cap fund

Principal MF launches mid and small-cap fund
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First Published: Mon, Aug 06 2007. 05 38 PM IST
Updated: Mon, Aug 06 2007. 05 38 PM IST
Reuters
Mumbai: Principal Pnb Asset Management Co. Pvt. Ltd said on Monday, 6 August, it has launched a three-year close-end equity fund that would primarily invest in shares of medium and small-sized companies.
Principal Pnb Long Term Equity Fund 3 Year Plan - Series II, open for subscription till 31 August, would invest at least 65 percent of its assets in mid-cap stocks and the rest in other stocks and money market instruments, the asset manager said.
The fund house managed assets worth about Rs173 billion at the end of July, data from Association of Mutual Funds in India showed.
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First Published: Mon, Aug 06 2007. 05 38 PM IST