Performance of PGIM funds
The fund house, earlier known as DHFL Pramerica Asset Managers, is now known as PGIM India Mutual Fund. It was not only a change in the name but in fact, the overall management was changed and even a new chief investment officer was inducted.
So, did the change in management impact the performance of the equity funds managed by the fund house or there was more to it? In this article, we will try to understand how the funds managed by the fund house have performed relatively.
In the last one year, the equity market has gone through a lot of volatility. It has touched its life-time high as well as the multi-year low within the last six months. Equity funds on an average have generated returns less than five per cent in the last one year. Nevertheless, in the last three months, they have generated results in double-digit.
|
Category
|
Average of Return (%)1 mo
|
Average of Return (%)3 mo
|
Average of Return (%)6 mo
|
Average of Return (%)1 yr
|
Average of Return (%)2 yrs
|
|
Equity: Large Cap
|
6.90
|
13.75
|
-8.42
|
0.42
|
-0.58
|
|
Equity: Mid Cap
|
5.12
|
14.41
|
-10.88
|
3.76
|
-3.73
|
|
Equity: Multi Cap
|
6.18
|
13.64
|
-9.20
|
1.52
|
-1.26
|
|
Equity: Tax Saving (ELSS)
|
6.26
|
14.03
|
-9.67
|
0.30
|
-2.38
|
Where do the equity-dedicated funds of PGIM stand in the pecking order? There are six funds offered by PGIM in the equity category. These are from large-cap, mid-cap, multi-cap, international funds, and tax savings category.
| |
|
|
Return & Rank
|
|
|
Fund Name
|
Category
|
AUM (Rs Cr)
|
1 Month
|
Rank
|
3 Month
|
Rank
|
6 Month
|
Rank
|
1 Yr Ret (%)
|
Rank
|
|
PGIM India Diversified Equity Fund
|
Multi Cap
|
151.00
|
11.12
|
1/60
|
23.95
|
3/60
|
3.18
|
3/59
|
17.01
|
2/55
|
|
PGIM India Large Cap Fund
|
Large Cap
|
282.00
|
7.53
|
33/67
|
13.16
|
50/67
|
-9.09
|
47/65
|
-0.67
|
50/62
|
|
PGIM India Long Term Equity Fund
|
Tax Saving (ELSS)
|
304.00
|
6.86
|
17/38
|
16.35
|
6/38
|
-6.45
|
9/38
|
1.02
|
20/37
|
|
PGIM India Midcap Opportunities Fund
|
Mid Cap
|
167.00
|
10.15
|
1/27
|
22.32
|
1/27
|
2.73
|
1/26
|
24.02
|
1/23
|
|
PGIM India Euro Equity Fund - Direct Plan
|
EQ-INTL
|
3.00
|
6.89
|
15/36
|
22.08
|
6/36
|
6.69
|
14/34
|
17.08
|
15/33
|
|
PGIM India Global Equity Opportunities Fund - Direct Plan
|
EQ-INTL
|
137.00
|
7.04
|
14/36
|
29.63
|
1/36
|
31.79
|
2/34
|
46.05
|
3/33
|
The above table shows that the performance of the funds has been mixed. The best funds from the fund house are PGIM India Midcap Opportunities Fund, a mid-cap dedicated fund that has generated 24 per cent return in the last one year and occupies the pole position. The second-best fund from PGIM is PGIM India Diversified Equity Fund that stands second in terms of performance in its category and has generated a return of 17 per cent in the last one year. There are also funds from this AMC that has not performed well. For example, its large-cap dedicated fund has generated a negative return in the last one year and has been at the bottom quartile when it comes to its performance.
Therefore, in the last one year, there has been a mixed performance from the fund house after a change in its management and investment head.