Principal Mutual Fund has changed the fundamental attributes of Principal Near-term Moderate Plan, with effect from March 2, 2012.
Name: The new name of Principal Near-term Moderate Plan will be Principal Near Term Corporate Bond Plan.
Investment Objective:
The revised objective will be to generate income and capital gains through investments in a portfolio of securities issued by private and public sector companies. Presently, the objective is to generate regular income & capital appreciation through investments in debt securities and money market instruments.
Asset Allocation:
Similarly, the asset allocation will also be revised to 70-100% in debt & money market instruments issued by private and public sector companies and upto 30% in CBLOs, t-bills and units of liquid funds. Presently, it invests upto 100% in Debt & Money Market Instruments (including cash & CBLO).
Benchmark:
Now, the benchmark will be changed from Crisil Liquid Fund Index to Crisil Composite Bond Fund Index.
Exit Load: The revised exit load will be 3% if redeemed within 12 months, 2% if redeemed after 12 months but before 24 months and 1% if redeemed after 24 months but before 30 months from the date of allotment. Presently, the exit load is NIL.
The investors of this scheme are given an option of exit without paying any exit load between February 2, 2012 to March 2, 2012.
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