Livemint, Jun 3, 2020
• Schemes that will make daily disclosures are PGIM Overnight, PGIM Insta cash, PGIM Money Market and PGIM Ultra Short Term Fund
Breaking fresh ground in an industry where monthly portfolio disclosure is the norm, PGIM India Mutual Fund has started daily disclosure of its short-term portfolios. The schemes covered by this initiative are PGIM Overnight, PGIM Insta cash, PGIM Money Market and PGIM Ultra Short Term Fund.
In a phone conversation with Mint, Ajit Menon, CEO, PGIM India MF, also stated the fund house’s intention to disclose other debt portfolios on a weekly basis.
If this practice gathers steam in the industry, it could go some way towards restoring confidence in debt mutual funds.
“Mutual Funds have faced a challenging time over the past 2 years since the IL&FS crisis and particularly in the past two months. Hence, we have taken this initiative to improve transparency on the debt side. In our view, more transparency will bring trust. We are also considering weekly disclosures for other debt categories,” said Menon.
In its earlier avatar of DHFL Pramerica Mutual Fund, the fund house had faced significant value erosion due to defaults from DHFL, its part owner. However DHFL sold its stake to Prudential Global Investment Management, its joint venture partner in late 2018, with approvals and regulatory clearances for the sale coming through in early 2019.
“I think this is a confidence-building step for investors, particularly in short maturity funds where the investment horizon can be of a few weeks or months. Monthly disclosures for very short horizons may not be as useful,” said Prateek Pant, co-founder and head, products and solutions, Sanctum Wealth Management.
Investors in debt funds should look at daily portfolios, where disclosed, for very short horizons.
Registered Office: CoWrks, Level 3, Birla Centurion, Century Mill Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400030 Contact number: +91 2261779500 | CIN: U74140MH2015PTC264932
Registered Office:
CoWrks, Level 3,
Birla Centurion, Century Mill Compound,
Pandurang Budhkar Marg, Worli, Mumbai - 400030
Contact number: +91 2261779500
| CIN: U74999MH2017PTC302008 |
Real Estate Regulatory Authority License no. (A51900011805)
For any grievance or disputes please contact us at the above address and phone number or send us an email to grievance@sanctumwealth.com. In case you are not satisfied with the response, you may contact the stock exchanges directly: (NSE) Tel: +91 22 2659 8190 / 1800 2200 58 (Toll free) or Email: atignse@nse.co.in; (BSE) Tel: +91 22 2272 809 or Email: is@bseindia.com.
Filing complaints on SCORES – Easy & Quick a. Register on SCORES portal b. Mandatory details for filing complaints on SCORES I. Name, PAN, Address, Mobile Number, E-mail ID c. Benefits: I. Effective communication II. Speedy redressal of the grievances
Trading and investments in Securities are subject to market risk, there is no assurance or guarantee of returns. Please read the PMS Disclosure Document, Risk Disclosure Document and Dos and Don’ts prescribed by the Exchanges and Mutual Fund Offer Documents carefully before investing
Attention Investors : No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No need to worry about the refund either, as the money remains in the investor’s account. Prevent Unauthorized Transactions in your demat and broking account −> Update your mobile numbers/email IDs with your stock brokers and depository participants. Receive information of your transactions directly from Exchange & NSDL on your mobile/email at the end of the day..... Issued in the interest of Investors. (Ref Circular No : NSE/INSP/27346, BSE/ 20140822-30, NSDL 2014/94/97 & 2015 / 104). KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.