Principal PNB plans more equity schemes

Principal PNB Asset Management Company (PPAM) is exploring niche products in equity to capitalise on the newly found love of the investors on equity schemes.

Its asset has grown more than 100 per cent from Rs 2,300 crore in September 2003 to Rs 4,700 crore in September 2004 and the equity portfolio has contributed heavily to this growth.

PPAM, a joint venture between, Principal group, PNB and Vijaya Bank, at present has four equity schemes in its portfolio. It has launched one more equity related scheme, dividend yield fund, on September 6.

However, the chief investment officer of the mutual fund, Rajat K Jain made it clear that it still has an appetite for more equity related schemes.

"I feel we still have space for new equity schemes. Investors are liking growth oriented equity schemes. Our research team is examining the niche products," he said.