The fund launched on March 26, 2024, and will remain open for subscription until April 09, 2024.
To provide capital appreciation and income to investors in line with their retirement goals.
It will predominantly invest in equity, maintaining an allocation between 75 and 100%, while its debt allocation will be up to 25%.
PGIM India Retirement Fund will be benchmarked against the S&P BSE 500 TRI.
The fund will be jointly managed by Vinay Paharia (equity portion) and Puneet Pal (debt, REITs and InvITs).
In terms of equity, the fund will allocate at least 25% of the money to large, mid and small caps each, similar to the strategy followed by multi-cap funds.
Solution-oriented funds are no different from any other mutual fund. Adding the words ‘retirement’ or ‘children’ is often just a marketing gimmick.
Since retirement funds don’t offer any unique advantages over regular equity schemes, investors will be better off investing in multi-cap funds with an existing track record.