Background: Principal PNB Asset Management Company (In Association with Vijaya Bank) Pvt. Ltd. is a joint venture between the Principal Financial Group - a Fortune 500 company, Punjab National Bank and Vijaya Bank. It has started the operation in India on September 2000. The fund house manages assets worth Rs 6756.87 crore at end of March 2009.
Principal Growth Fund (G) an open-ended equity scheme launched in October 2000. The primary investment objective of the Fund is to achieve long-term capital appreciation.
The minimum investment amount is Rs.5000 and in multiples of Rs.500 thereafter. The unit NAV of the scheme was Rs 29.64 as on 2 April 2009.
Portfolio: The total net assets of the scheme decreased by Rs 3.80 crore to Rs 128.82 crore in February 2009.
Principal Growth Fund (G) took fresh exposure to two stocks in February 2009. The scheme has purchased 2.12 lakh units (2.75%) of Cairn India, 60,898 units (2.19%) of Colgate-Palmolive (India).
The scheme completely exits from Pantaloon Retail (India) by selling 13,939 units (0.17%) in February 2009.
Sector-wise, the scheme took no fresh exposure to any sectors in February 2009.
Sector-wise, the scheme exits completely from Textiles - Products at 0.17% in February 2009.
The scheme had highest exposure to Reliance Industries with 70,974 units (6.97% of portfolio size) followed by Bharti Airtel with 1.30 lakh units (6.45%), State Bank of India with 61,455 units (4.90%) and Infosys Technologies with 44,044 units (4.21%) among others in February 2009.
It reduced its exposure to Tata Power Company by selling 26,134 units to 18,974 units (by 1.52%), Oil & Natural Gas Corporation by selling 26,847 units to 27957 units (1.22%), Infosys Technologies by selling 11,013 units to 44,044 units (1.21%) and Axis Bank by selling 23,096 units to 8144 units (0.80%) among others in February 2009.
Sector-wise, the scheme had highest exposure to Computers - Software – Large at 9.68% (from 10.02% in January 2009), followed by Banks - Public Sector at 9.47% (10.50%), Power Generation and Supply at 7.24% (8.77%) and Refineries at 6.97% (6.88%) among others in February 2009.
Sector wise, the scheme had reduced exposure to Power Generation and Supply to 7.24% (by 1.53%), Banks - Public Sector to 9.47% (by 1.03%), Banks - Private Sector to 5.20% (by 1.02%) and Computers - Software - Medium / Small to 0.31% (by 0.35%) among others in February 2009.
Performance: The scheme underperformed the category average over 6 months and one year period, while outperformed over three month and since inception. It has underperformed the Sensex over most of the time periods except 3 month period.
Over three-month period ended as on 02 April 2009, the scheme posted returns of 3.60% outperforming the category average that fell 1.90%. It also outperformed the Sensex that posted returns of 0.71% during the same period.
Since inception, the scheme posted returns of 196.40% outperforming the category average of 77.07%.
Principal Growth Fund (G) an open-ended equity scheme launched in October 2000. The primary investment objective of the Fund is to achieve long-term capital appreciation.
The minimum investment amount is Rs.5000 and in multiples of Rs.500 thereafter. The unit NAV of the scheme was Rs 29.64 as on 2 April 2009.
Portfolio: The total net assets of the scheme decreased by Rs 3.80 crore to Rs 128.82 crore in February 2009.
Principal Growth Fund (G) took fresh exposure to two stocks in February 2009. The scheme has purchased 2.12 lakh units (2.75%) of Cairn India, 60,898 units (2.19%) of Colgate-Palmolive (India).
The scheme completely exits from Pantaloon Retail (India) by selling 13,939 units (0.17%) in February 2009.
Sector-wise, the scheme took no fresh exposure to any sectors in February 2009.
Sector-wise, the scheme exits completely from Textiles - Products at 0.17% in February 2009.
The scheme had highest exposure to Reliance Industries with 70,974 units (6.97% of portfolio size) followed by Bharti Airtel with 1.30 lakh units (6.45%), State Bank of India with 61,455 units (4.90%) and Infosys Technologies with 44,044 units (4.21%) among others in February 2009.
It reduced its exposure to Tata Power Company by selling 26,134 units to 18,974 units (by 1.52%), Oil & Natural Gas Corporation by selling 26,847 units to 27957 units (1.22%), Infosys Technologies by selling 11,013 units to 44,044 units (1.21%) and Axis Bank by selling 23,096 units to 8144 units (0.80%) among others in February 2009.
Sector-wise, the scheme had highest exposure to Computers - Software – Large at 9.68% (from 10.02% in January 2009), followed by Banks - Public Sector at 9.47% (10.50%), Power Generation and Supply at 7.24% (8.77%) and Refineries at 6.97% (6.88%) among others in February 2009.
Sector wise, the scheme had reduced exposure to Power Generation and Supply to 7.24% (by 1.53%), Banks - Public Sector to 9.47% (by 1.03%), Banks - Private Sector to 5.20% (by 1.02%) and Computers - Software - Medium / Small to 0.31% (by 0.35%) among others in February 2009.
Performance: The scheme underperformed the category average over 6 months and one year period, while outperformed over three month and since inception. It has underperformed the Sensex over most of the time periods except 3 month period.
Over three-month period ended as on 02 April 2009, the scheme posted returns of 3.60% outperforming the category average that fell 1.90%. It also outperformed the Sensex that posted returns of 0.71% during the same period.
Since inception, the scheme posted returns of 196.40% outperforming the category average of 77.07%.
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