theddteam
13-12-2007, 05:04 AM
Principal Pnb Asset Management Co Pvt Ltd on Wednesday filed initial papers with India's market regulator to launch an equity fund that would invest in property securities across the globe. Principal Global Real Estate Equity Fund would invest at least 85 percent of the assets in such securites or units of mutual funds investing in them and the rest in fixed income instruments, the fund house said in its offer document.
"Principal Global Property Securities, a fund managed by Principal Global Investors (Ireland) Ltd has been identified as the potential portfolio for the purpose," the firm said. The fund house, which managed assets worth about 148 billion rupees at the end of November, already manages a globaly-invested fund that mainly invests in emerging markets.
"Principal Global Property Securities, a fund managed by Principal Global Investors (Ireland) Ltd has been identified as the potential portfolio for the purpose," the firm said. The fund house, which managed assets worth about 148 billion rupees at the end of November, already manages a globaly-invested fund that mainly invests in emerging markets.