Magazine : 
PGIM India Mutual Fund's Small Cap Fund Collect 
578 crore in NFO
PGIM India Mutual Fund on August 3 announced that it has garnered 
578 Crore through its new fund offer (NFO) Small Cap Fund that had opened for subscription from July 9 to July 23, 2021.
The NFO received more than 37,000 applications and was scattered by more than 3,000 partners, PGIM official statement said. PGIM added that investment purpose of the scheme is to achieve long-term capital appreciation by predominantly investing in equity and equity related instruments of small cap companies.
Ajit Menon, CEO, PGIM India Mutual Fund says, "We are overwhelmed by the tremendous response the fund has received and I would like to thank all our investors and advisors for their support and belief in our fund house."
Along with this, US-based Prudential Financial Inc. (PFI)'s Indian arm also stated that the fund would invest a minimum of 65 percent of its corpus in the small cap companies. Furthermore, the scheme could also seek to participate in the growth of other equity and equity-related instruments in order to achieve optimal portfolio construction.
The statement hints, "Investors are requested to note that the fund house has decided to limit the subscriptions in the ongoing offer of PGIM India Small Cap Fund by way of fresh/additional purchases, switch ins, Systematic Investment Plan, Systematic Transfer Plan and other facilities/special products offered under the Scheme to 10 Lakhs per application/per instalment with effect from August 2, 2021 until further notice."
The fund is managed by Aniruddha Naha, Kumaresh Ramakrishnan and Ravi Adukia for equity investments, for debt and money market investments and for overseas investments, respectively. It is headquartered in Mumbai, PGIM India Mutual Fund has a presence in 27 cities across the country, including branches in Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata and Pune.
PGIM India Asset Management is the full service investment manager of PGIM India Mutual Fund, offering a broad range of equity and fixed income solutions to retail and institutional investors throughout the country.
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