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 Large Cap Fund (G) an open-ended equity scheme launched in September 2005. The Investment Objective of the scheme would be to provide capital appreciation and/or dividend distribution by predominantly investing in companies having a large market capitalization. The minimum investment amount is Rs.5000 and in multiples of Rs 500 thereafter. The unit NAV of the scheme was Rs 14.93 per unit as on 29 April 2009.
Portfolio: The total net assets of the scheme increased by Rs 22.67 crore to Rs 263.83 crore in March 2009.
Principal Large Cap Fund (G) took fresh exposure to two stocks in March 2009. The scheme has purchased 3.99 lakh units (3.33%) of Bank of India, 1.99 lakh units (1.36%) of NTPC.
The scheme exited completely from Container Corporation of India by selling 1.06 units (2.80%), Kotak Mahindra Bank by selling 1.49 lakh units (1.61%), Wipro by selling 1.00 lakh units (0.86%) and ABG Shipyard by selling 1.24 lakh units (0.43%) in March 2009.
Sector-wise, the scheme took fresh exposure to Power Generation and Supply at 1.36% in the March 2009.
Sector-wise, the scheme did not exit completely from any sector in March 2009.
The scheme had highest exposure to Reliance Industries with 1.55 lakh units (8.96% of Portfolio) followed by State Bank of India with 1.50 lakh units (6.07%), Bharti Airtel with 2.25 lakh units (5.34%) and Dabur India with 11.06 units (4.14%) among others in March 2009.
It reduced its exposure to Cipla by selling 2.00 lakh units to 2.00 lakh units (by 1.51%), HDFC Bank by selling 29975 units to 20172 units (by 1.10%), Sterlite Industries (India) by selling 1.49 lakh units to 1.50 lakh units (by 1.02%) and Bharat Heavy Electricals by selling 15086 units to 30165 units (by 0.90%) among others in March 2009.
Sector-wise, the scheme had highest exposure to Banks-Public Sector at 15.66% (10.02% in February 2009), Refineries followed by at 10.38% (10.75%), Personal Care–Indian at 7.68% (8.24%) and Computers-Software–Large at 6.17% (7.58%) among others in March 2009.
Sector wise, the scheme had reduced exposure in Banks-Private Sector to 4.59% (by 3.00%), Pharmaceuticals-Indian-Bulk Drugs & Formulation to 1.67% (by 1.51%), Computers-Software–Large to 6.17% (by 1.41%) and Mining/Minerals/Metals to 2.97% (by 1.02%) among others in March 2009.
Performance: The scheme outperformed the Sensex over all the time periods.
Over three-months period ended as on 29 April 2009, the scheme posted returns of 25.15% outperforming the Sensex that posted returns of 24.64%. Over 6 months period, the scheme's returns surged 17.19% outperforming the Sensex that rose 10.31%.
The returns of the scheme over one year period fell 33.61% outperforming the Sensex that plunged by 35.21%.
Principal Large Cap Fund (G) an open-ended equity scheme launched in September 2005. The Investment Objective of the scheme would be to provide capital appreciation and/or dividend distribution by predominantly investing in companies having a large market capitalization. The minimum investment amount is Rs.5000 and in multiples of Rs 500 thereafter. The unit NAV of the scheme was Rs 14.93 per unit as on 29 April 2009.
Portfolio: The total net assets of the scheme increased by Rs 22.67 crore to Rs 263.83 crore in March 2009.
Principal Large Cap Fund (G) took fresh exposure to two stocks in March 2009. The scheme has purchased 3.99 lakh units (3.33%) of Bank of India, 1.99 lakh units (1.36%) of NTPC.
The scheme exited completely from Container Corporation of India by selling 1.06 units (2.80%), Kotak Mahindra Bank by selling 1.49 lakh units (1.61%), Wipro by selling 1.00 lakh units (0.86%) and ABG Shipyard by selling 1.24 lakh units (0.43%) in March 2009.
Sector-wise, the scheme took fresh exposure to Power Generation and Supply at 1.36% in the March 2009.
Sector-wise, the scheme did not exit completely from any sector in March 2009.
The scheme had highest exposure to Reliance Industries with 1.55 lakh units (8.96% of Portfolio) followed by State Bank of India with 1.50 lakh units (6.07%), Bharti Airtel with 2.25 lakh units (5.34%) and Dabur India with 11.06 units (4.14%) among others in March 2009.
It reduced its exposure to Cipla by selling 2.00 lakh units to 2.00 lakh units (by 1.51%), HDFC Bank by selling 29975 units to 20172 units (by 1.10%), Sterlite Industries (India) by selling 1.49 lakh units to 1.50 lakh units (by 1.02%) and Bharat Heavy Electricals by selling 15086 units to 30165 units (by 0.90%) among others in March 2009.
Sector-wise, the scheme had highest exposure to Banks-Public Sector at 15.66% (10.02% in February 2009), Refineries followed by at 10.38% (10.75%), Personal Care–Indian at 7.68% (8.24%) and Computers-Software–Large at 6.17% (7.58%) among others in March 2009.
Sector wise, the scheme had reduced exposure in Banks-Private Sector to 4.59% (by 3.00%), Pharmaceuticals-Indian-Bulk Drugs & Formulation to 1.67% (by 1.51%), Computers-Software–Large to 6.17% (by 1.41%) and Mining/Minerals/Metals to 2.97% (by 1.02%) among others in March 2009.
Performance: The scheme outperformed the Sensex over all the time periods.
Over three-months period ended as on 29 April 2009, the scheme posted returns of 25.15% outperforming the Sensex that posted returns of 24.64%. Over 6 months period, the scheme's returns surged 17.19% outperforming the Sensex that rose 10.31%.
The returns of the scheme over one year period fell 33.61% outperforming the Sensex that plunged by 35.21%.
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