Principal PNB Asset Management Company has announced the launch of Principal Focussed Advantage Fund. The fund would be open for initial public offer from January 31, 2005 to February 22, 2005. The fund is benchmarked against the S&P CNX Nifty with a minimum application amount of Rs 5,000.
This will be a diversified equity fund, which will invest in not more than six leading sectors at a time, with no sector having more than 25 per cent of the total portfolio. While the maximum number of sectors will be six, at any point of time the minimum will never be less than four. This is to avoid over exposure to any sector while at the same time offer a platform for risk diversification from a selected sectoral fund. The endeavor here will be to have around five sectors at a time. With investments in five sectors, the fund will be in a position to move quickly into a sector that shows promise, without waiting to exit the other one completely.
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