New Fund Offer: PGIM India MF launches India’s first Global Real Estate Securities Fund; check details

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Updated: November 10, 2021 6:34 PM

PGIM India Global Select Real Estate Securities Fund of Fund. It is an open-ended equity fund of fund scheme investing in PGIM Global Select Real Estate Securities Fund.

pgim global real estate fund of fundPGIM India MF said that the NFO will open for subscription on November 15, 2021, and will close on November 29, 2021. Representative image

PGIM India Mutual Fund has announced the launch of India’s first Global Real Estate Securities Fund – PGIM India Global Select Real Estate Securities Fund of Fund. It is an open-ended equity fund of fund scheme investing in PGIM Global Select Real Estate Securities Fund.

In a statement, PGIM India MF said that the NFO will open for subscription on November 15, 2021, and will close on November 29, 2021. The Benchmark Index of the fund is FTSE EPRA NAREIT Developed Index.

The primary investment objective of the scheme is to generate long-term capital appreciation from investing in the units of PGIM Global Select Real Estate Securities Fund, which primarily invests in REITs and equity-related securities of real estate companies located throughout the world.

The statement said that globally, real estate as an asset class and as an investment has undergone a shift during the pandemic. As economies across the world reopen, properties such as hotels, assisted living facilities and restaurants will benefit from pent-up demand. The pandemic has accelerated trends already underway such as cloud computing, remote schooling, remote working, e-commerce, last-mile retail etc., thus expanding growth opportunities for real estate.

“Today’s investment opportunities span a wide range of categories, including capitalizing on favourable occupier momentum linked to accelerated changes in how real estate is used, investing in assets that require some short-term repositioning and finding value in parts of the market that have undergone a long-term correction,” said Rick Romano, MD, PGIM Real Estate and Head of Global Real Estate Securities Business.

As concerns around new variants of COVID ease, allowing workplaces and service-oriented industries to reopen more fully, occupier sentiment is expected to return quickly supporting a rebound in real estate space demand,” he added.

Ajit Menon, CEO, PGIM India Mutual Fund said, “It is our endeavour to bring relevant and timely investment ideas to Indian investors and advisors. We are therefore proud to present our parent PGIM’s global expertise in this asset class. Its various sub-themes like Grade A commercial, self-storage, logistics, last-mile retail, senior living, cold storage etc. are either not available in India or not available at scale as investible securities compared to global markets. With interest rates and inflation where they are today, this strategy will be an important addition to build resilience in client portfolios for times ahead.”

PGIM India PGIM India Global Select Real Estate Securities Fund of Fund Features:

pgim real estate fund of fund

The minimum amount required to invest in this NFO is Rs 5000 and in multiples of Re 1 thereafter. The fund of fund will be managed by Ravi Adukia, an Equity Analyst and dedicated Fund Manager for overseas investments.

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