PGIM INDIA BALANCED ADVANTAGE FUND - (An open-ended dynamic asset allocation fund)
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Gain from experience PGIM INDIA BALANCED ADVANTAGE FUND (An open-ended dynamic asset allocation fund) September, 2021
PGIM India Balanced Advantage Fund
Dynamic model that considers 15
years rolling PE* average
considered as the long term
An open-ended dynamic asset Asset allocation decided by the
average PE* in order to capture
allocation fund with a floor of model based on time tested
changing trends in the equity
minimum 30% directional equity. DAAAF model to help “buy low
markets. So the model always
and sell high”
remains relevant compared to static
asset allocation models.
Tax efficient dynamic asset allocation
model as the fund is categorized as Endeavour to deliver reasonable A solution that helps overcome
an Equity oriented scheme. 65% downside protection and lower emotional/behavioral biases for
minimum allocation to Equity would volatility disciplined investing
be a mix of Directional Equity and
Arbitrage.
*PE variation is defined as the deviation of trailing PE of Nifty 50 Index ( observed on a 20 days moving average basis) from 15 year rolling
average PE of Nifty 50 Index.
PGIM India Balanced Advantage Fund 2Bull, Bear and Flat Market analysis of performance of the model
Absolute Returns during 3 Year Absolute Returns post 3 Year CAGR post Bull
Bull Phase the Bull Phase Bull Phase Phase
Nifty 50 Model Nifty 50 Model Nifty 50 Model
January 2007 – January 2008 29% 34% 4% 30% 1% 9%
March 2009 - December 2010 129% 110% 2% 16% 1% 5%
May 2014 – March 2015 27% 28% 18% 22% 6% 7%
Absolute Returns during 3 year Absolute Returnspost 3 year CAGR post Bear
Bear Phase the Bear Phase Bear Phase Phase
Nifty 50 Model Nifty 50 Model Nifty 50 Model
February 2008 - December 2008 -44% -26% 52% 59% 15% 17%
January 2011 - December 2011 -25% -14% 79% 77% 21% 21%
April 2015 - February 2016 -19% -5% 49% 40% 14% 12%
Absolute Return During 3 years Absolute Returns 3 years CAGR post Flat
Flat Markets post Flat Phase Phase
Flat Market
Nifty 50 Model Nifty 50 Model Nifty 50 Model
January 2013 – February 2014 5% 4% 43% 53% 13% 15%
April 2016 - December 2016 6% 7% 49% 39% 14% 12%
Source: Bloomberg, NSE Indices, Internal Research;
The back testing results given are merely for the understanding how does the model works. The returns illustrated above using the P/E strategy
is based on assumptions give on slide no. purpose o 12 The above table / graph is for illustrative purposes only and should not be construed in
any way as guaranteed or promised returns from the model or scheme. Past Performance may or may not be sustained in the future.
PGIM India Balanced Advantage Fund 3For an investment period of 3 years and 5 years, the model could have
generated returns of 8% and above for over 79% and 92% of the time
Monthly Rolling Returns Based Key Parameters
on Investment Period of* Average Return Median Minimum Maximum Standard deviation
Model 13.27% 10.90% -35.36% 83.14% 17.7%
1 Year
Nifty 50 10.87% 10.62% -53.02% 87.58% 23.5%
Model 11.90% 11.33% 2.49% 27.03% 4.6%
3 Year
Nifty 50 9.31% 8.86% -2.37% 26.27% 5.6%
Model 11.55% 11.87% 5.88% 19.15% 2.5%
5 Year
Nifty 50 9.24% 9.92% -0.86% 18.60% 4.3%
Monthly Rolling Returns Return Consistency (% of Times)
Total
Based on Investment
Observations
Period of* Less than 0% 0-5% 5-8% 8-12% Greater than 12%
Model 166 13.25% 7.23% 12.05% 21.69% 45.78%
1 Year
Nifty 50 166 26.51% 8.43% 7.83% 12.65% 44.58%
Model 142 0.00% 3.52% 16.90% 34.51% 45.07% 79.58%
3 Year
Nifty 50 142 4.23% 19.72% 19.01% 26.76% 30.28%
Model 118 0.00% 0.00% 7.63% 44.07% 48.31% 92.38%
5 Year
Nifty 50 118 1.69% 17.80% 19.49% 28.81% 32.20%
On Rolling basis the model has better returns and lower volatility than Nifty 50 (Lumpsum Investment)
*Calculated on a monthly basis. Source: Bloomberg, Internal Research; Data between January 2007 and September 2021.The back testing results given are merely for the
purpose of understating how does the model works. The returns illustrated above using the P/E strategy is based on assumptions give on slide no. 12. The above table / graph is
for illustrative purposes only and should not be construed in any way as guaranteed or promised returns from the model or scheme. Past Performance may or may not be
sustained in the future.
PGIM India Balanced Advantage Fund 4The mantra for wealth creation in Equity investing
Buy Low Sell High
But this is easier said than done….
PGIM India Balanced Advantage Fund 5Most investors do the exact opposite…
Domestic Investors invest at High Valuations
Month Year DII Net Inflows (Rs. In crores) PE (Average over the month) Long Term PE Average
August 2019 20933 27.11 19.76
July 2019 20394 28.28 19.73
October 2018 26033 25.05 19.42
September 2018 12504 27.45 19.39
February 2018 17813 25.61 19.17
September 2017 21025 25.98 19.04
November 2016 18277 21.99 18.81
Domestic Investors withdraw at Low Valuations
Month Year DII Net Inflows ( Rs. In crores) PE (Average over the month) Long Term PE Average
March 2014 -13130 18.31 18.37
October 2013 -12410 17.71 18.32
January 2013 -16207 18.84 18.66
February 2012 -11541 19.09 18.37
Source: Money Control, Internal Research.
The table above quotes instances when a single month has seen more than Rs.12,000 crore of net inflows at high PE and more than Rs.12,000 crore of
outflows at low PE
PGIM India Balanced Advantage Fund 6Presenting a solution
PGIM INDIA
BALANCED ADVANTAGE FUND
…With the essence of the Dynamic Advantage Asset Allocation Facility
(DAAAF)* model and the additional benefits of equity taxation and a
minimum constant exposure to equity markets.
*Dynamic Advantage Asset Allocation facility (DAAAF) is an active facility available to investors of all open ended schemes of PGIM India Mutual Fund
apart from Fund of Fund schemes. Please visit our website www.pgimindiamf.com for further details of the facility.
4How does the PGIM India Balanced Advantage Fund allocate
assets?
Asset Allocation for PGIM India Balanced Advantage Fund is guided by the time-tested Dynamic Advantage Asset Allocation
Facility (DAAAF) model with
• 15 year rolling P/E of Nifty 50 Index is considered for the long-term P/E average and,.
• Minimum exposure to equity and equity related instruments of 65%, with directional equity exposure of at
least 30% at all points of time.
Using the model, PGIM India BAF follows the “Buy Low Sell High” mantra, allocates across equity and debt based on the
market valuations and executes three critical strategies:
1 2 3
Enter Exit Re-enter
When the Equity Market is When the Equity Market is
When the Equity Market is
undervalued: Current P/E reasonable compared to
overvalued: Current P/E
significantly lower than Long historical average. The
significantly higher than
Term Average PE current market PE is close
Long Term Average PE
to the historic average
PGIM India Balanced AdvantageFund 8Current Allocation Model and Portfolio Positioning
Top 10 Holdings % Exposure*
Housing Development Finance
2.39%
Corporation Ltd.
Infosys Ltd. 2.18%
Long - term Average P/E of Nifty 50 20.36
Larsen & Toubro Ltd. 1.48%
Last 20 Days Moving Average of Nifty 50 P/E 26.85 Reliance Industries Ltd. 1.31%
Applicable P/E Variation Band Between 31% to 40% Alkem Laboratories Ltd. 1.21%
ICICI Bank Ltd. 1.21%
Re – balancing Allocation 50% From Equity to Debt
Cummins India Ltd. 1.21%
Equity Allocation for the month 30% Dixon Technologies (India) Ltd. 1.20%
ICICI Lombard General Insurance Co.
1.20%
Ltd.
Ultratech Cement Ltd. 1.19%
This information/disclosure is made at the discretion of the AMC and is for information purpose only. This information/disclosure does not constitute
a distribution, an endorsement, an offer to buy or sell or the solicitation of an offer to buy or sell any securities or schemes or any other financial
products / investment facility (collectively “Products”) mentioned in this document or an attempt to influence the opinion or behavior of the
Investors/Recipients. The information incorporated in this disclosure is solely to enhance the transparency of the product/facility offered by the AMC
and should not be treated as an endorsement in any manner whatsoever. This disclosure is not meant to serve as a professional advice for the
Investors/Recipients and Investors/Recipients are advised to seek independent professional advice and arrive at an informed investment decision
before making any investments. Data as on September 30, 2021. *The exposure is of Direct Equity and does not include Arbitrage.
PGIM India Balanced Advantage Fund 9The Asset Allocation Model
Table for initial allocation
Variation* from Long Term average PE % Equity Allocation
Above 40% 30%
Between 31% and 40% 30%
Between 21% and 30% 40%
Between 11% and 20% 60%
Between 1% and 10% 80%
below 0% 100%
Table for allocation on ongoing basis
Variation* from Long Term average PE % move from Equity to Debt % move from Debt to Equity
Less than - 20% 100%
Between -20% and -11% 50%
Between -10% and 0% 10%
Between 1% and 10% No Action No Action
Between 11% and 30% No Action No Action
Between 21% and 30% No Action No Action
Between 31% and 40% 50%**
Above 40% 100%*
*PE variation is defined as the deviation of trailing PE of Nifty 50 Index (observed on a 20 days moving average basis) from 15 year rolling
average PE of Nifty 50 Index. ** This will be subject to overall equity floor of 30%.
PGIM India Balanced AdvantageFund 10BACK-TESTING RESULTS OF MODEL
Assumptions for Performance Evaluation
• We have considered the combination of Nifty 50 + CRISIL Liquid Fund Index for the evaluation of the
model. The model recommendations have been applied to this combination to understand the performance
impact.
• We have chosen a period of Jan 2007 to September 2021 to include the two largest crashes in the Indian
stock markets and the performance of the model during such stressed times.
• The rolling returns have been calculated on a monthly basis since the model allocates assets once every
month at the start of the month.
• All of the above returns are calculated on a pre-tax basis.
PGIM India Balanced AdvantageFund 12Capital conservation and investment at right levels has led to
better cumulative model performance
Growth of Rs. 10,000 Lumpsum invested in the model Vs Nifty 50
60,000 Rs. 56,544
50,000
40,000
30,000 Rs. 44,418
20,000
10,000
-
Model Performance Nifty 50 Performance
The markets have been volatile, giving both positive and negative returns but the model has had a smoother ride.
Rs. 10,000 invested in the model in 2007 would have growth 5.6 times compared to 4.4 times in the Nifty 50.
Source: Bloomberg, NSE Indices, Internal Research; The above graph shows performance across calendar years from 2007 to September 30, 2021.
The back testing results given are merely for the purpose of understanding how the model works. The returns illustrated above using the P/E strategy is
based on assumptions given on slide no. 12. The above table / graph is for illustrative purposes only and should not be construed in any way as guaranteed
or promised returns from the model or scheme. Past Performance may or may not be sustained in the future.
PGIM India Balanced AdvantageFund 13Major market upheavals have been avoided through the model
Global Financial Crisis 2007-08 Taper Tantrum 2013-14
Nifty 50 Level Vs Allocation to Equity Nifty 50 Level Vs Allocation to Equity
7000 100% 8500 100%
8000
6000
80% 7500 95%
5000
7000
4000 60%
6500 90%
3000 40% 6000
2000 5500 85%
20%
1000 5000
0 0% 4500 80%
1-Jan-13
1-Jan-14
1-May-13
1-Sep-13
1-Nov-13
1-May-14
1-Sep-14
1-Nov-14
1-Jul-13
1-Jul-14
1-Mar-13
1-Mar-14
NIFTY 50 Level Allocation to Equity NIFTY 50 Level Allocation to Equity
The model recommended getting out of equity in November 2007, 2 Indian markets suffered during the Taper Tantrum of 2013, at which
months before the crash. As markets moved down the model point the model recommended a higher investment into Equity and
recommended accumulating equity to get the right price bought stocks cheap.
Source: Bloomberg, NSE Indices, Internal Research
The back testing results given are merely for the purpose of understanding how the model works. The returns illustrated above using the P/E strategy is
based on assumptions give on slide no. 12. The above table / graph is for illustrative purposes only and should not be construed in any way as guaranteed
or promised returns from the model or scheme. Past Performance may or may not be sustained in the future.
PGIM India Balanced AdvantageFund 14Simulation suggests that the model has efficiently followed the
principle of "Buy Low - Sell High"
Comparison of the Long Term and Short Term Average P/E
40.0000
30.0000
20.0000
10.0000
0.0000
Sep,2007
Sep,2008
Sep,2010
Sep,2011
Sep,2012
Sep,2014
Sep,2015
Sep,2016
Sep,2018
Sep,2019
Sep,2020
Sep,2021
Sep,2009
Sep,2013
Sep,2017
Long Term Short Term
15 Year Average P/E 20 Day Rolling Average P/E
Equity Allocation and Variation
100% 160
120
60% 80
20% 40
0
-20% -40
Allocation to Equity Variation
Source: Bloomberg, NSE Indices, Internal Research
The back testing results given are merely for the purpose of understanding how the model works. The returns illustrated above using the P/E strategy is
based on assumptions give on slide no. 12. The above table / graph is for illustrative purposes only and should not be construed in any way as guaranteed or
promised returns from the model or scheme. Past Performance may or may not be sustained in the future.
PGIM India Balanced AdvantageFund 15Back-testing shows the model provides better returns for every
bit of risk taken compared to only Equity investment
Model Nifty 50
Average Annual Return 14.2% 14.8%
Average Volatility 21.4% 30.2%
Sharpe Ratio 0.49 0.37
Sharpe Ratio is a measure of the return generated by an investment instrument for every unit of
risk taken. Over the period considered, for every unit of risk (volatility) Nifty 50 has generated
0.37 units of return whereas the model has generated higher risk adjusted return at 0.49 units
Source: Bloomberg, NSE Indices, Internal Research; The above analysis is for annual periods from 1st January 2007 to 30th September, 2021
The back testing results given are merely for the purpose of understating how the model works. The returns illustrated above using the P/E strategy is
based on assumptions give on slide no. 12. The above table / graph is for illustrative purposes only and should not be construed in any way as
guaranteed or promised returns from the model or scheme. Past Performance may or may not be sustained in the future.
The Sharpe ratio is calculated as Average return – Risk free rate / Average volatility. Risk free rate assumed to be 3.55% (based on last 1 year average of
MIBOR as on 30th June 2021).PGIM INDIA EQUITY INVESTMENT PROCESS
Portfolio Construction Process - Focus on Quality
Three filters for inclusion in the investment universe
Operating Cash Flow
positive for 7 out of
10 years *
Demonstrated Corporate
Governance
Debt to Equity ratio < 3
Nifty 50, Nifty Next 50, Nifty Midcap 100 and BSE 200 stocks automatically are part of the universe
2000 450+ 30-50
potential stocks for
Stock investment stocks in each fund
inclusion in the
Universe based on its mandate
investment Universe
*In companies with less than 10 years of data available, at least 70% of the years should have generated positive operating cash flows.
PGIM India Balanced Advantage Fund 18Portfolio Construction Process
Criteria for evaluation of a business
Land Capital
Companies
Abundantly WHAT DO WE strong on either
availablein LOOK FOR IN are in focus for
India
BUSINESSES evaluation
Labor Technology
Financial Statement and Management Filters
PGIM India Balanced AdvantageFund 19Portfolio Construction Process
Unquestioned Sustainable
Demonstrated Earnings
Corporate Growth
Governance Growth potential
At
Reasonable
Long Term
Price Capital
Perspective Efficiency
PGIM India Balanced AdvantageFund 20Asset Allocation the best strategy
Contribution to returns
Asset Allocation Stock
91.5% Selection
• Landmark study conducted by Brinson et al.
4.6%
• Concluded that the performance of a portfolio
was explained the most by their asset
allocation decision.
Others • Other decisions such as stock selection and
2.1% Market Timing market timing play a relatively smaller role.
1.8%
PGIM India Balanced AdvantageFund 21Fund Performance
CRISIL Hybrid 50+50 Moderate
Performance Fund Nifty 50 TR Index #
Index ^
Period Returns (%) Value (INR) * Returns (%) Value (INR) * Returns (%) Value (INR) *
PGIM India Balanced Advantage Fund(G) – Regular Plan
Last 6 months 10.58 11,057.79 12.41 11,240.99 20.82 12,081.75
Since Inception 12.90 10,808.91 12.04 10,755.87 28.87 11,765.66
PGIM India Balanced Advantage Fund(G)-Direct Plan
Last 6 months 11.73 11,173.02 12.41 11,240.99 20.82 12,081.75
Since Inception 14.30 10,894.65 12.04 10,755.87 28.87 11,765.66
Date of Inception: Regular Plan: February 04, 2021; Direct Plan: February 04, 2021.
The above returns are Simple Annualised Returns ^ Scheme Benchmark. # Standard Benchmark. *Based on standard investment of Rs.
10,000 made at the beginning of the relevant period. Past performance may or may not be sustained in future and should not be used as a
basis for comparison with other investments.. Scheme performance may not strictly be comparable with that of its Standard Benchmark in
view of hybrid nature of the scheme where a portion of scheme’s investments are made in debt & derivatives. Different plans have a
different expense structure.
Aniruddha Naha (Equity Portion) is managing this fund since February 04, 2021 and Mr. Hitash Dang (Equity Portion) since June 01, 2021
and Kumaresh Ramakrishnan (Debt Portion) is managing this fund since February 04, 2021 and Ravi Adukia (Overseas Investments) is
managing this fund since June 01, 2021. For performance of schemes managed by Mr. Aniruddha Naha refer page no. 23 For
performance of schemes managed by Mr. Hitash Dang refer page no. 24 For performance of schemes managed by Mr. Kumaresh
Ramakrishnan refer page no. 25 For performance of schemes managed by Ravi Adukia refer page no. 26 The above returns are as on
September 30, 2021
PGIM India Balanced AdvantageFund 22Performance of other schemes managed by Aniruddha Naha
Period Last 1 Year Last 3 Years Last 5 Years Fund Manager Details
Scheme Benchmark Scheme Benchmark Scheme Benchmark Fund Managing
Scheme Name Benchmark
(%) (%) (%) (%) (%) (%) Manager Since
PGIM India
Midcap NIFTY Midcap Aniruddha
87.82 80.55 34.24 22.13 19.85 15.72 April 5th 2018
Opportunities 100 TRI Naha
Fund*
Aniruddha
PGIM India Flexi April 5th 2018
73.58 62.87 28.67 19.50 19.43 16.62 NIFTY 500 TRI Naha
Cap Fund**
Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. The
above returns are for Regular Plan - Growth Option. Different plans have a different expense structure. All the above returns are CAGR.
CAGR - Compounded Annual Growth Rate
Mr. Aniruddha Naha is managing 4 schemes of PGIM India Mutual Fund. Returns for PGIM India Small Cap Fund are not provided, as the
scheme has not completed 6 months of performance. On account of difference in scheme features, the performance of these schemes are
not strictly comparable. *PGIM India Midcap Opportunities Fund is co managed by Mr. Vivek Sharma. No other schemes are managed by
Vivek Sharma. **PGIM India Flexi cap Fund is co-managed by Mr. Anandha Padmanabhan Anjeneyan (Equity Portion) and Mr. Ravi
Adukia (Overseas Investments). Please refer www.pgimindiamf.com for details on performance of all schemes (including Direct Plan).
Performance as on September 30, 2021
PGIM India Balanced AdvantageFund 23Performance of other schemes managed by Hitash Dang
Period Last 1 Year Last 3 Years Last 5 Years
Managing
Scheme Benchmark Scheme Benchmark Scheme Benchmark Benchmark
Scheme Name since
(%) (%) (%) (%) (%) (%)
NIFTY 50 Hybrid
PGIM India Equity Savings Fund ^ 20.24 17.44 8.83 11.63 7.73 10.26 Short Duration Jun-21
Debt 25:75 Index
Nifty 50 Arbitrage
PGIM India Arbitrage Fund* 3.53 3.93 4.56 4.48 5.09 4.52 TR Index
May-17
Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. The
above returns are of Regular Plan - Growth Option of respective schemes. All the above returns are CAGR. CAGR - Compounded Annual
Growth Rate. Different plans have a different expense structure. Returns for the benchmark have been calculated using TRI values. Mr.
Hitash Dang is managing 3 schemes of PGIM India Mutual Fund. On account of difference in scheme features, the performance of these
schemes are not strictly comparable.*Co-managed with Mr. Kumaresh Ramakrishnan (Debt Portion). and Mr. Utkarsh Katkoria (Equity
Portion). ^Co-managed by Alok Agarwal (Equity Portion) Kumaresh Ramakrishnan (Debt Portion). With effect from September 01, 2021
the benchmark of PGIM India Equity Savings Fund has been changed from 70% NIFTY 50 Arbitrage Index and 30% of the NIFTY 50 TR
Index to NIFTY 50 Hybrid Short Duration Debt 25:75 Index. Performance as on September 30, 2021. Please refer www.pgimindiamf.com
for details on performance of all schemes (including Direct Plan).
PGIM India Balanced AdvantageFund 24Performance of other schemes managed by Kumaresh Ramakrishnan
Last 1 Year Last 3 Years Last 5 Years
Managing Since
Reg Dir Reg Dir Reg Dir
Top 3 Schemes Performance
PGIM India Hybrid Equity Fund(G) 43.88 46.31 13,97 15.78 10.61 12.30
2018 April
CRISIL Hybrid 35+65 Aggressive Index – Benchmark 39.66 39.66 17.02 17.02 14.18 14.2
PGIM India Equity Savings Fund(G) 20.24 21.88 8.83 10.08 7.73 9.04
2018 April
70% Nifty Arbitrage TRI + 30% Nifty 50 TRI 17.44 17.44 11.63 11.63 10.26 10.26
PGIM India Credit Risk Fund(G) 11.60 12.85 3.54 4.65 4.55 5.68
2016 March
Nifty Credit Risk Bond Index 9.94 9.94 10.02 10.02 8.73 8.73
Bottom 3 Schemes Performance
PGIM India Insta Cash Fund-(G) 3.19 3.31 5.08 5.20 5.82 5.92
2011 January
CRISIL Liquid Fund Index - Benchmark 3.59 3.59 5.38 5.38 6.00 6.00
PGIM India Overnight Fund-(G) 3.09 3.17 - - - -
2019 August
Nifty 1 Day Rate Index – Benchmark 3.19 3.19 - - - -
PGIM India Money Market Fund(G) 2.98 3.90 - - - -
2020 March
CRISIL Money Market Fund Index – Benchmark 4.14 4.14 - - - -
Above returns are CAGR (Compounded Annual Growth Rate) and are for the Growth Option. Different plans have difference expense
structures. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other
investments. Mr. Kumaresh Ramakrishnan is managing 12 schemes of PGIM India Mutual Fund as on September 30, 2021. Top three
and bottom three schemes managed by the Fund manager, sorted on the performance of the regular plan growth option of the last 1 year
ending on September 30, 2021. Hybrid Equity Fund is co-managed by Mr. Alok Agarwal (Equity Portion) and Mr. Ravi Adukia (Overseas
Investment. Money market Fund & Overnight Fund are co-managed by Mr. Kunal Jain. On account of difference in scheme features, the
performance of these schemes are not strictly comparable . PGIM India Insta Cash Fund is co-managed by Mr. Kunal Jain. Please refer
www.pgimindiamf.com for details on performance of all schemes (including Direct Plan).
PGIM India Balanced AdvantageFund 25Performance of other schemes managed by Ravi Adukia
Period Last 1 Year Last 3 Years Last 5 Years
Scheme Benchmark Scheme Benchmark Scheme Benchmark Managing
Scheme Name Benchmark
(%) (%) (%) (%) (%) (%) Since
PGIM India Flexi Cap Nifty 500 TRI
73.58 62.87 28.67 19.50 19.43 16.62 June 1st 2021
Fund * Index
CRISIL Hybrid
35+65
PGIM India Hybrid
43.88 39.66 13.97 17.02 10.61 14.18 Aggressive June 1st 2021
Equity Fund ^
Index
PGIM India Emerging MSCI Emerging June 1st 2021
25.97 16.88 7.86 -6.96 10.35 9.10
Markets Equity Fund Markets Index
PGIM India Global
MSCI All Country June 1st 2021
Equity Opportunities 23.17 26.70 27.30 11.47 22.36 13.57
World Index
Fund
Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. The
above returns are of Regular Plan -Growth Option of respective schemes. All the above returns are CAGR -Compounded Annual Growth
Rate. Different plans have a different expense structure. Returns for the benchmark have been calculated using TRI values.
W.e.f June 1,2021 Mr. Ravi Adukia (Dedicated Fund Manager for Overseas Investments) is managing 6 schemes of PGIM India Mutual Fund
On account of difference in scheme features, the performance of these schemes are not strictly comparable. Returns for PGIM India Small
Cap Fund are not provided, as the scheme has not completed 6 months of performance.* It is jointly managed by Mr. Anandha Padmanabhan
Anjeneyan (Equity Portion) and Mr. Aniruddha Naha (Equity Portion). ^The debt portion in the PGIM India Hybrid Equity Fund is managed by
Kumaresh Ramakrishnan and the Equity portion is managed by Mr. Alok Agarwal. The above performance is as on September 30, 2021.
Please refer www.pgimindiamf.com for details on performance of all schemes (including Direct Plan).
PGIM India Balanced AdvantageFund 26ANNEXURES
Fund Features
Benchmark • CRISIL Hybrid 50+50 ModerateIndex
• To provide capital appreciation and income distribution to the investors by dynamically managing the asset
allocation between equity and fixed income using equity derivatives strategies, arbitrage opportunities and pure
Investment
equity investments. The scheme seeks to reduce the volatility by diversifying the assets across equity and fixed
Objective
income. However, there can be no assurance that the investment objective of the Scheme will be achieved. The
Scheme does not guarantee/ indicate any returns.
Type of Scheme • An Open - Ended Dynamic Asset Allocation Fund
IDCW** (Payout of Income Distribution cum Capital Withdrawal option and Re-investment of Income
Plans Available
Distribution cum Capital Withdrawal option) and Growth.
• 10% of the units allotted may be redeemed/switched-out to debt schemes without any exit load
within 90 days from the date of allotment;
- Any redemptions/switch-outs in excess of the above mentioned limit would be subject to an exit load of
0.50%, if the units are redeemed/switched-out to debt schemes within 90 days from the date of allotment
Exit Load
of units;
- Nil - If the units are redeemed/ switched-out after 90 days from the date of allotment of units;
- No exit load will be charged for switches and STP into any open-ended equity scheme, hybrid scheme
and fund of funds scheme.
28
**Income Distribution cum Capital Withdrawal optionFund Features
SIP/SWP/STP • Available
Taxation Status • Equity Taxation
• Mr. Aniruddha Naha (For Equity investments)
• Mr. Kumaresh Ramakrishnan (For Debt and Money market investments)
Fund Managers
• Mr. Ravi Adukia (For Overseas investments)
• Mr. Hitash Dang (Equity portion)
* For terms and condition please refer to www.pgimindiamf.com
PGIM India Balanced AdvantageFund 29Meet the Fund Managers
• Aniruddha Naha is Senior Fund Manager – Equity at PGIM India Asset Management Pvt. Ltd. He is also the
fund manager for PGIM India Flexi Cap Fund , PGIM India Midcap Opportunities Fund & PGIM India Small Cap
Fund
• Aniruddha has done his Masters in Finance & Control and has over 18 years of industry experience in the equity
and debt market.
• Hitash Dang is a Dealer - Equity and Co-Fund - Manager Equity. He is an Asst. Fund Manager – Equity of PGIM
India Balance Advantage Fund w.e.f June 1, 2021.
• He has over 22 years of experience in the equity markets, sales and Business Development. He is BCOM &
MBA (PGDBA)
• Kumaresh Ramakrishnan is the CIO-Fixed Income of PGIM India Asset Management Pvt. Ltd. He has over 19
years of experience in the Indian Fixed Income market.
• He is a Bachelor of Engineering (BE) from Bombay University (K J Somaiya College of Engineering) and an
MBA in Finance from Bombay University (Narsee Monjee Institute of Management Studies)
• Ravi Adukia is a dedicated Fund Manager – Overseas Investments of PGIM India Asset Management Pvt. Ltd.
• He has collectively over 15 years of experience in Indian financial markets, primarily in Equity research. He is
CA,CS,CFA
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