Principal Mutual Fund, a part of global investment management company Principal Financial Group brings on board the financial strength and global experience of over 140 years to India. Principal Asset Management Company (AMC) in India offers various mutual fund schemes that are a mix of short term, mid term and long term investment options to suit various income levels and portfolios.
Lalit Vij is the Managing Director of Principal Asset Management Fund Pvt. Ltd. who attempts to meet the needs of both the new and experienced investors. Fund Managers constantly monitor the mutual fund investment and mutual fund returns in continuously shifting market by revisiting their offerings of investment plans, mutual fund schemes and business models.
The core of their investment philosophy is Integrity and Clarity. While they prefer medium to long-term investment in equities, in case of fixed income, they also make sure that the interest rate risks, credit risks and liquidity risks are compensated.
How to Complete Your Mutual Fund eKYC
KYC (Know Your Customer) is a one-time customer identification process and a mandatory compliance requirement for investors who wish to invest in mutual funds. It has been made compulsory by the capital markets regulator SEBI (Securities and Exchange Board of India) for mutual fund investments in order to curb fraudulent activities.
The KYC Process can be initiated and completed with any of the following SEBI-registered intermediaries:
- The Fund House (Asset Management Companies)
- KYC Registration Agency (KRA) such as CAMS, Karvy, CSDL (Central Depository Services Limited) Ventures, NSDL (National Securities Depository Limited) and NSE-owned (National Stock Exchange) DotEx International Limited
To complete your KYC online, follow these steps, and you’ll be good to go:
Step 1: Visit the website of a fund house or any of the above-mentioned KRA’s website and create an investor account by filling in your personal details and your Aadhaar-linked mobile number so that you can verify the account using that OTP.
Step 2: Upload self-attested copies of your Identity Proof and Address Proof.
That’s all. Your eKYC process is done!
Documents Required for Mutual Fund Investment
Here is a list of official documents required to validate the identity and address of an investor:
1. Identity Proof
- Aadhaar Card
- PAN Card
- Driving License
2. Address Proof
- Aadhar Card
- Driving License
- Recent Utility Bill
- Rental/Lease Agreement
How to Invest in Mutual Funds via Paisabazaar.com?
Step 1: Go to Paisabazaar.com
Step 2: Select the ‘Mutual Fund’ option.
Step 3: If you are a registered user, login onto the platform using your mobile number and password/OTP. Or create a new account.
Step 4: Choose ‘Invest’ > ‘Explore All Funds’ on the left side bar.
Step 5: Select the Principal Mutual Fund of your choice. Now, all the details of the fund including NAV, risk level, etc. will appear.
Step 6: Enter the amount you wish to invest, select the investment type – SIP or Lumpsum, and click on the ‘Confirm & add to cart’ option.
Step 7: You can complete the payment using net banking of major Indian banks.
The mutual fund units will be allotted to you within 5 working days.
Fund Snapshot – Funds Managed by Principal Mutual Fund and Key Features
The following is a list of the equity, debt, fund of funds as well as hybrid funds offered by Principal Mutual Fund AMC in India. The table also contains key fund details of each fund such as fund type, NAV(regular growth option) and 1, 3, 5-year returns (regular growth option) as of 19 Sep, 2019*.
|Fund Name||Fund Type||NAV||1 Year Returns||3 Year Returns||5 Year Returns|
|Principal Emerging Bluechip Fund||Equity – Mid Cap||2236.32||-10.38%||6.88%||11.72%|
|Principal Government Securities Fund||Equity – Multi Cap||263.22||15.38%||5.63%||9.30%|
|Principal Tax Savings Fund||Equity – Tax Planning||415.33||-10.97%||6.09%||8.42%|
|Principal Growth Fund||Equity – Multi Cap||902.41||-9.52%||6.60%||8.38%|
|Principal Dividend Yield Fund||Equity – Multi Cap||209.98||-10.70%||7.89%||8.02%|
|Principal Balanced Fund||Hybrid – Equity Oriented||18.01||8.83%||7.05%||7.86%|
|Principal Equity Savings Fund||Hybrid – Equity Oriented||58.95||2.22%||6.29%||7.10%|
|Principal Dynamic Bond Fund||Debt – Dynamic Bond||59.54||1.34%||3.72%||6.99%|
|Principal Credit Opportunities Fund||Debt – Credit Opportunities||89.28||1.40%||5.38%||6.97%|
|Principal Short Term Income Fund||Debt – Short Term||223.66||-0.14%||4.34%||6.64%|
|Principal Global Opportunities Fund||Fund of Funds (Equity – International)||15.13||-8.77%||9.67%||4.92%|
|Principal Personal Tax Saver Fund||Equity – Tax Planning||275.02||-10.24%||2.21%||4.78%|
|Principal Low Duration Fund||Debt – Ultra Short Term||216.13||-10.34%||1.12%||4.36%|
|Principal Arbitrage Fund||Hybrid – Arbitrage||5.6||1.37%||3.45%||–|
*The facts and figures in the above table are indicative and subject to periodic change as per changing market conditions and other criteria deemed important by individual fund’s management team.
Principal Mutual Fund Managers
The following are the short biographies of the key management figures of Principal Mutual Fund AMC.
Mr. Rajat Jain, Chief Investment Officer
Mr. Rajat Jain is a capital market veteran with over 28 years of experience in India’s financial industry. Prior to joining as the Chief Investment Officer of Principal Mutual Fund AMC, Mr. Jain was working in a similar role with another leading fund house – SBI Mutual Fund AMC. When working with SBI AMC, he also held other key positions such as Equities Dealer, Head of Research and Fund Manager. He is a Mechanical Engineering Graduate and also holds a PG Diploma in Management from IIM, Lucknow.
Mr. P.V.K. Mohan, Head – Equity
Mr. P.V.K. Mohan is an equity markets veteran with over 21 years of expertise in fund management and equity research. He initially joined Principal Mutual Fund AMC as a Senior Fund Manager – Equities and was later elevated to Head – Equity. Prior to joining Principal, he had worked in various capacities at leading national and international financial institutions including ICICI Prudential Mutual Fund, DSP BlackRock Mutual Fund, CIBC Oppenheimer and IL&FS Mutual Fund. Mr. Mohan is an Electrical Engineer from REC Calicut and Management PG Diploma holder from IIM, Bangalore.
Ms. Bekxy Kuriakose, Head – Fixed Income
With over 14 years of experience in the financial sector, Ms. Bekxy Kuriakose is the current Head of Fixed Income products at Principal Mutual Funds AMC. Prior to working with the current organization, she was working with other leading players in the mutual fund’s industry such as L&T Mutual Fund AMC, SBI Mutual Fund AMC and Reliance Life Insurance. In all her previous roles she has handled various fixed income and debt schemes. She is a PGDBM holder from IIM, Bangalore and has an economics degree from Dehli University’s Lady Shri Ram College.
Mr. Dhimant Shah, Senior Fund Manager – Equity
Mr. Dhimant Shah, the Senior Fund Manager – Equity at Principal Mutual Fund AMC is a stock market veteran with over 19 years of relevant experience. Before he joined Principal Mutual Fund AMC, he worked with leading players in India’s financial sector such as UTI Asset Management Company Ltd. (earlier IL&FS Asset Management Co. Pvt. Ltd.), ASK Raymond James Securities Pvt. Ltd., Reliance Capital Asset Management Ltd. and HSBC Asset Management (India) Private Ltd. He is B. Com graduate and a certified Chartered Accountant.
Mr. Pankaj Jain, Senior Fund Manager – Fixed Income
As the senior fund manager of fixed income products, Mr. Pankaj Jain plays a pivotal role when handling various debt products managed by Principal Mutual Fund, AMC. He has substantial experience in handling various debt schemes including dynamic, short-term and liquid schemes. Additionally, he has also some exposure in Forex schemes during his time at a previous organization. Prior to his association with Principal Mutual Fund AMC (Asset Management Company), he worked with leading Indian companies such as Thermax Ltd., State Bank of India (Treasury), Edelweiss Capital, Edelweiss Mutual Fund and Taurus Mutual Fund. He is a Mechanical Engineer from REC, Nagpur with a PG Diploma in Management from IIM, Bangalore.
Mr. Gurvinder Singh Wasan, Fund Manager – Debt
As one of the leading fund managers for the debt business of Principal Mutual Fund AMC, Mr. Gurvinder Singh Wasan plays a key role in ensuring that Principal’s investors get the best value for their debt investments. He has 10+ years of experience in key areas of financial markets such as structured finance, credit analysis, and fixed income markets. His prior employers in India’s financial sector include ICICI Bank Ltd. and CRISIL Ltd. His educational qualifications include a Master’s degree in Commerce and he is also a qualified CFA and CA.
Ms. Rupali Pandit, Equity Dealer
Ms. Rupali Pandit is an equity dealer with Principal Pnb Asset Management Company. She is a Commerce graduate with over 15 years’ experience in India’s equity market. Prior to her current role as an equity dealer with Principal Mutual Fund AMC, she worked with India’s leading fund houses such as GIC Mutual Fund, IL&FS Mutual Fund, and ABN AMRO Mutual Fund.
Mr. Prateek Jain, Fixed Income Dealer
Mr. Prateek Jain has over 5 years of experience in India’s financial sector and is currently a Fixed Income Dealer with Principal Mutual Fund AMC. In his earlier roles within the industry, he worked with financial industry giants such as Edelweiss Capital and Taurus Corporate Advisory services. Mr. Jain has a Post Graduate Commerce degree from Mumbai University and Bachelor’s Degree in Management from Narsee Monjee College of Commerce and Economics in Mumbai.
Frequently Asked Questions
Q. What is an Asset Management Company (AMC)?
A. AMC is an organisation which manages the pooled funds from numerous investors and invests them in various financial securities to generate returns.
Q. What is Net Asset Value (NAV)?
A. Net Asset Value measures the performance of an individual mutual fund scheme of an AMC. In essence, it is the market valuation of the securities the fund has invested in. So, the NAV per unit is derived from dividing the total market value of all the invested securities by total number of units issued. Since, the number of unit holders and valuation of securities change everyday, the NAV of a mutual fund also changes accordingly.
Q. What is Expense Ratio?
A. Expense Ratio refers to a small amount of fee charged by Asset Management Companies annually to manage investors’ assets. It covers the operating and managing cost incurred by the AMC. It is a percentage of the total assets invested by the investor.
Q. What is Entry Load?
A. When an investor purchases units of a mutual fund scheme for the first time, s/he is charged a small amount of processing fee by the Asset Management Company which is known as an Entry Load.
Q. What is Exit Load?
A. When investors redeem their investment from a mutual fund scheme, s/he is charged a small amount of processing fee which is known as an Exit Load. It is also charged when investors choose to switch between different mutual fund schemes of a specific AMC.