Investment opportunities span a wide range of categories, says Romano
Mumbai-headquartered PGIM India Mutual Fund has launched PGIM India Global Select Real Estate Securities Fund of Fund, an open-ended equity fund of fund scheme investing in PGIM Global Select Real Estate Securities Fund, making it the country’s first of its kind investment channel.
The fund will open for subscription on 15 November 2021 and will close on 29 November 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.
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,” Rick Romano, MD, PGIM Real Estate and Head of Global Real Estate Securities Business, said in a release on 11 Nov 2021.
“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 said.
“It is our endeavor 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,” added Ajit Menon, CEO, PGIM India Mutual Fund.
“It’s various sub-themes like grade A commercial, self-storage, logistics, last mile retail, senior living, cold storage among others 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,” said Menon.
PGIM India Mutual Fund is a wholly-owned business of PGIM, the global investment management business of the US-based Prudential Financial, Inc. (PFI) ranking among the top 10 largest asset managers in the world with more than US$1.5 trillion in assets under management as of 30 September 2021. PGIM India Asset Management is the full-service investment manager of PGIM India Mutual Fund, offering a broad range of equity and fixed income solutions to retail and institutional investors throughout the country. W
Headquartered in Mumbai, PGIM India Mutual Fund has a presence in 27 cities across the country including branches in Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, and Pune. PGIM India Mutual Fund brings a rich blend of global resources, intellectual acumen and local investment expertise, and is committed to designing superior and meaningful, wealth-building solutions for our investors. PGIM India provides unique training and educational programs for building exceptional capabilities and best business practices for its business associates.
As one of the largest real estate managers in the world with US$201.3 billion in gross assets under management and administration, PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debts solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the US$1.5 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).
PGIM Real Estate’s rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing, and the deep local expertise of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. #investment #banking #economy /fiinews.com
