Principal Mutual Fund is launching India's First International Equity Fund: Principal Global Opportunities Fund. The fund would be open for subscription from February 23, 2004 to March 19, 2004. The minimum investment for the scheme is Rs. 25,000 (Rs.10,000 during the IPO) with subsequent additional investment of Rs.5000. During the IPO the fund would not charge ay entry load but an exit load of 1.5 per cent if redeemed within 6 months. On an ongoing basis, the fund would charge an entry load of 2 per cent but no exit load.
Through this fund the investors will be able to take advantage of global diversification of their investments in equity. This fund would invest in a portfolio of equity and equity related instruments of companies listed on recognized overseas stock markets like the New York Stock Exchange, London Stock Exchange, Tokyo Stock Exchange, etc. The fund would be benchmarked against MSCI World Index.