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 9450.83 crore at end of August 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 22.52 per unit as on 7 September 2009.
Portfolio:
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 22.52 per unit as on 7 September 2009.
Portfolio:
The total net assets of the scheme increased by Rs 0.22 crore to Rs 428.25 crore in August 2009.
Principal Large Cap Fund (G) took fresh exposure to four stocks in July 2009. The scheme has purchased 4.99 lakh units (2.82%) of Sesa Goa, 70116 units (2.63%) of Hero Honda Motors, 8.32 lakh units (1.72%) of Allahabad Bank and 1.49 lakh units (1.16%) of GAIL (India).
The scheme exited completely from Lanco Infratech by selling 3.24 lakh units (3.05%), Bharat Petroleum Corporation by selling 2.00 lakh units (2.26%), Tata Steel by selling 1.99 lakh units (2.05%) and Cipla by selling 2.00 lakh units (1.33%) among others in July 2009.
Sector -wise, the scheme took fresh exposures in Automobiles – Motorcycles / Mopeds at 2.63%.
Sector-wise, the scheme did exit completely from Engineering at 3.05%, Steel – Large at 2.05%, Pharmaceuticals – Indian – Bulk Drugs Formulation at 1.33% and Construction at 1.23% in July 2009.
The scheme had highest exposure to Reliance Industries with 1.19 lakh units (5.48% of portfolio size) followed by State Bank of India with 1.19 lakh units (5.08%), Oracle Financial Services Software with 1.09 lakh units (3.95%) and Oil & Natural Gas Corporation with 1.40 lakh units (3.81%) among others in July 2009.
It reduced its exposure from Reliance Industries by selling 55187 units to 1.19 lakh units (by 3.81%), Bharti Airtel to 2.79 lakh units (3.11%), Tata Consultancy Services by selling 2.00 lakh units to 1.49 lakh units (1.74%) and Dabur India by selling 5.00 lakh units to 2.97 lakh units (1.68%) among others in July 2009.
Sector-wise, the scheme had highest exposure to Banks – Public Sector at 11.25% (from 8.24% in June 2009), followed by Refineries at 10.17% (17.39%), Computers - Software – Large at 8.20% (9.51%) and Mining / Minerals / Metals at 6.59% (1.59%) among others in July 2009.
Sector wise, the scheme had reduced exposure from Refineries to 10.17% (by 7.22%), Telecommunications – Service Provider to 2.68% (by 3.11%), Computers – Software - Large to 8.20% (by 1.31%) and Personal Care - Indian to 4.31% (by 1.11%) among others in July 2009.
Performance:
Principal Large Cap Fund (G) took fresh exposure to four stocks in July 2009. The scheme has purchased 4.99 lakh units (2.82%) of Sesa Goa, 70116 units (2.63%) of Hero Honda Motors, 8.32 lakh units (1.72%) of Allahabad Bank and 1.49 lakh units (1.16%) of GAIL (India).
The scheme exited completely from Lanco Infratech by selling 3.24 lakh units (3.05%), Bharat Petroleum Corporation by selling 2.00 lakh units (2.26%), Tata Steel by selling 1.99 lakh units (2.05%) and Cipla by selling 2.00 lakh units (1.33%) among others in July 2009.
Sector -wise, the scheme took fresh exposures in Automobiles – Motorcycles / Mopeds at 2.63%.
Sector-wise, the scheme did exit completely from Engineering at 3.05%, Steel – Large at 2.05%, Pharmaceuticals – Indian – Bulk Drugs Formulation at 1.33% and Construction at 1.23% in July 2009.
The scheme had highest exposure to Reliance Industries with 1.19 lakh units (5.48% of portfolio size) followed by State Bank of India with 1.19 lakh units (5.08%), Oracle Financial Services Software with 1.09 lakh units (3.95%) and Oil & Natural Gas Corporation with 1.40 lakh units (3.81%) among others in July 2009.
It reduced its exposure from Reliance Industries by selling 55187 units to 1.19 lakh units (by 3.81%), Bharti Airtel to 2.79 lakh units (3.11%), Tata Consultancy Services by selling 2.00 lakh units to 1.49 lakh units (1.74%) and Dabur India by selling 5.00 lakh units to 2.97 lakh units (1.68%) among others in July 2009.
Sector-wise, the scheme had highest exposure to Banks – Public Sector at 11.25% (from 8.24% in June 2009), followed by Refineries at 10.17% (17.39%), Computers - Software – Large at 8.20% (9.51%) and Mining / Minerals / Metals at 6.59% (1.59%) among others in July 2009.
Sector wise, the scheme had reduced exposure from Refineries to 10.17% (by 7.22%), Telecommunications – Service Provider to 2.68% (by 3.11%), Computers – Software - Large to 8.20% (by 1.31%) and Personal Care - Indian to 4.31% (by 1.11%) among others in July 2009.
Performance:
The performance of the scheme is benchmarked against BSE 100. The scheme has outperformed the benchmark index over all time periods.
The scheme has posted returns of 7.03% outperformed the BSE 100 that increased by 6.46% over 1 month period ended 7 September 2009. Over 3 month's period, the scheme advanced by 12.88% outperformed the BSE 100 that gained 6.39%. It rose by 22.19% outperformed the benchmark index that was up by 10.95% over 1 year period.
The scheme has posted returns of 7.03% outperformed the BSE 100 that increased by 6.46% over 1 month period ended 7 September 2009. Over 3 month's period, the scheme advanced by 12.88% outperformed the BSE 100 that gained 6.39%. It rose by 22.19% outperformed the benchmark index that was up by 10.95% over 1 year period.
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