Principal Mutual Fund has launched a large-cap diversified equity fund. Named as Principal Large Cap fund, the scheme would invest in stocks having a market capitalisation equal to or greater than Rs 3,500 crore. It would also invest a small part of the portfolio in stocks having a lower market capitalisation but not lower than Rs 2,000 crore.
The fund's NFO period opened today and would continue till October 13, 2005. The fund would charge an entry load of 2.25 per cent for investments below Rs 3 crore. No entry load would be levied on investments worth more than Rs 3 crore.
An exit load of 0.50 per cent would be applicable on investments in the range of Rs 3 to 5 crore if redeemed within three months of the investment.
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