Pramerica Asset Managers (PAMPL), the Indian asset management venture of US-based Prudential Financial, today launched two equity funds and has two more fixed income products in the pipeline.
The funds -- Pramerica Equity Fund and Pramerica Dynamic Fund -- will be open for subscription from November 19 till December 9.
"These funds are designed to capture India's growth story by investing primarily in large caps using sector rotation (identifying right sectors) and special situations (identifying value-unlocking potential), which will benefit investors in the long run," PAMPL Executive Director Chief Investment Officer (Equity) Ravi Gopalakrishnan said here.
Pramerica Equity Fund is an open ended equity scheme designed to capture the India growth story by investing primarily in large caps, up to 60 per cent, using rotation and special situation approach.
Pramerica Dynamic Fund is aimed at the asset allocation between debt and equity will be based on Pramerica Dynamic Asset Reallocation Tool (DART) that aims to reduce volatility and deliver equity comparable returns.
"This Fund aims to buy equities when they are cheap and sell when they are expensive, thus taking the burden off the investor. It is ideal for those who seek equity comparable returns coupled with reduced volatility," PAMPL Managing Directors and CEO Vijai Mantri said.
"We have lined up couple of fixed income funds, which are already filed with the regulator Sebi," Gopalakrishnan said.
The company which entered India this year already has two funds in its portfolio, Ultra Short Term Bond (debt fund) and Pramerica liquid fund.
While Indian equity markets have given impressive returns over long term, investors have not seen similar returns in their portfolio.
Talking on sectoral performance, he said, Pramerica is highly positive on consumption, investment and agriculture sectors.
Pramerica Financial has approximately $750 billion in assets under management as of September 30, with operations spread across the US, Asia, Europe, and Latin America.