PGIM India MF launches India Healthcare Fund; to capitalize on sector’s growth

PGIM India Mutual Fund has launched the PGIM India Healthcare Fund, an open-ended equity scheme focused on healthcare and pharmaceutical companies. The fund is benchmarked against the BSE Healthcare TRI.

The New Fund Offer (NFO) opens on November 19, 2024, and closes on December 3, 2024.

Continuous sales and repurchases will begin on December 11, 2024.

Ajit Menon, CEO, PGIM India Asset Management, highlighted the sector’s growth potential. “The healthcare sector benefits from innovation, growing medical tourism, and rising health insurance awareness. It offers a structural investment theme,” he said.

Vinay Paharia, CIO, PGIM India Asset Management, added that India’s healthcare sector is poised for growth due to stable domestic demand, export potential, and the global adoption of the China +1 strategy.

The scheme will invest at least 80% in healthcare equities and up to 20% in other assets, including debt, REITs, and foreign securities. It will focus on diverse healthcare segments, including diagnostics, hospitals, medical devices, and specialty chemicals.

Anandha Padmanabhan Anjeneyan, Senior Fund Manager, emphasised the sector’s pricing power and resilience, making it attractive for long-term investment.

The equity portfolio will be managed by a team led by Anjeneyan, while Puneet Pal will handle the debt portion.

Investors can start with a minimum investment of ₹5,000. The scheme charges an exit load of 0.50% for redemptions within 90 days and none thereafter.

This fund aims to capitalise on India’s healthcare growth, driven by rising incomes, increased government spending, and emerging trends like AI-based diagnostics and telemedicine. CNBCTV18