NFO Alert: PGIM India Mutual Fund launches PGIM India Retirement Fund; all you need to know

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Also Read: Retirement mutual funds: Why should you opt for these schemes? 3 key reasons explained The investment objective of the scheme is to provide capital appreciation and income to investors in line with their retirement goals by investing in a mix of securities comprising equity, equity-related instruments, REITs and InvITs, and fixed-income securities. However, there is no assurance that the investment objective of the scheme will be achieved.

Investors can invest under the scheme with a minimum investment of ₹5000 per plan/option and in multiples of Re 1. There is no upper limit for investment.

Under normal circumstances, the asset allocation of the scheme will be as follows:Indicative allocations (% of total assets)MinimumMaximumEquity and Equity-related Instruments75%100%Very HighDebt Securities and Money Market Instruments, including cash, Triparty Repo and equivalent and units of mutual funds0%25%Low to MediumUnits issued by REITs & InvITs0%10%Medium to High To date, many asset management companies (AMCs) have launched such retirement services funds, thus, allowing inclined investors to avail of returns corresponding to the total returns of the securities in this particular index. These include:Mutual Fund HouseName of the FundTATA Mutual FundTata Retirement Savings FundSBI Mutual Fund SBI Retirement Benefit FundNippon Mutual FundNippon India Retirement Fund - Income Generation SchemeTata Mutual FundTata Retirement Savings Fund - Conservative PlanUTI Mutual FundUTI Retirement Benefit Pension FundAditya Birla Sun Life Mutual FundAditya Birla Sun Life Retirement FundICICI Prudential Mutual FundICICI Prudential Retirement FundHDFC Mutual FundHDFC Retirement Savings Fund - Hybrid-Debt PlanUnion Mutual FundUnion