Scheme Rating
IME Scheme Rating
The Scheme does not meet our selection criteria at this time
Not a recommended fund: This is not a recommended fund, primarily because the AMC does not meet our selection criteria. We believe that there are better fund houses to invest in, within the Indian fund universe.
IME Strategy Rating
Multicap Strategy: The portfolio attempts to enhance the chances of investment success and is built with the twin objectives of giving the client a set of strong companies, purchased at prices that are not exorbitantly high, thereby minimizing permanent capital loss to the investor.
PMS Scheme Ratings are driven by IME’s Proprietary Scheme Rating Methodology, which takes into account our ratings of the Scheme’s investment strategy, its maturity, the investment team, and our separate rating on the AMC that runs this particular scheme. Our views on each of these individual criteria are available via the IME RMS – which you can view by reaching out to one of our relationship managers (using either the live chat or book appointment feature on this site).
IME View on PGIM Core Equity
PGIM India Core Equity Portfolio- Investment Strategy
PGIM India Core Equity is a multi-cap strategy. Market-cap and sector agnostic. Philosophy is to invest in good businesses in a temporary bad phase.
Investment Process
- Out of 6000 listed companies filter them based on track record to arrive at an investment universe of 160-180 companies.
- From the 160-180 companies in the chosen universe, research is undertaken to determine growth prospects and management quality.
- The portfolio is constructed with 20-15 companies by filtering price and industry exposure.
The portfolio is reviewed periodically to establish best choices.
SELL PROCESS
- when assumption for stock purchased is no longer valid
- stock price goes beyond what they thought were worst
- When a superior opportunity is found for the same level of risk taken
- when there is a redemption request
RISK MANAGEMENT
- Follows a concentrated portfolio–20-25 stocks (lower end)
- Stock Exposure limit- 10%
- Sector Exposure limit–30%
Trailing Performance
| 1yr | 3yr | 5yr | Since Inception | |
|---|---|---|---|---|
| PGIM Core Equity | 27.4 | 19.5 | 19.5 | 16.9 |
| S&P BSE 500 TRI | 41.1 | 18.4 | 22.4 | 15.5 |
| Alpha over Broad Mkt BM | -13.7 | 1.1 | -2.9 | 1.4 |
| Nifty 500 | 40.2 | 17.2 | 21 | |
| Alpha over Category BM | -12.8 | 2.3 | -1.5 |
Performance as of: 30-Sep-24 | Inception Date: 08-Jul-13
Fund Managers
Himanshu Upadhyay | 2-star rated FM
Portfolio Manager | 17 yrs Experience | 9 yrs at current firm
Past Experience: Senior Analyst (M3 Investment Pvt Ltd), Analyst (Max New York Life Insurance Co)
Himanshu Upadhyay comes with 11 years of experience in equity markets. He was previously with M3 Investment Managers and Max New York Life Insurance.
Fee Structure
| Fee Structure | Fee |
|---|---|
| Fixed Fee Structure | 2.5 |
| Variable Fee Structures | 1.5% fixed + 20% above 10% |
| Exit Fees | 1yr (3%), 2yr (2%), 3yr (1%) |
AMC
AMC: PGIM India PMS (click link for detailed AMC review)
Not a top recommendation due to being an MF-driven PMS: PGIM India PMS is essentially the erstwhile DHFL Pramerica's PMS business that has been taken over by PGIM post the DHFL collapse. The business is still in the rebuild mode and with limited differentiation. We do not recommend PGIM PMS at this stage.
PGIM India PMS does not meet our criteria for PMS AMC Selection at this time. Understand our AMC rating criteria at AMC Rating Criteria or contact us via the LiveChat to learn more.
Note: PMS AMC & Scheme Reviews and Ratings are based on IME Capital’s Proprietary Review and Rating Methodology (read more here: AMC Rating & Scheme Ratings). These reflect the unbiased views of our central research team, based on our assessment of the investment value of these PMS/AIF strategies for our investors. We follow a highly stringent rating-criteria, where approximately 50% of PMS AMC’s & strategies would be rated 2-star or below (this is not meant to indicate that these funds are not investment-worthy, but that they do not currently fulfill the requirements we focus on for recommending funds to our investors — based on our internal views on the merit of the AMC/strategy relative to peers). Reviews & Ratings are primarily based on research of publicly available information (SEBI disclosures, PMS websites, PMS-aggregation platforms, webinar recording, media interviews etc.) and no explicit consent is required from AMCs for the same. While we endeavour to do further due-diligence via direct interactions with the investment teams of AMCs, this is typically restricted to AMC’s that meet our foundational fund selection criteria (reviews on lower-rated AMCs are often based solely on publicly available information). The views reflected in our Reviews & Ratings, are our independent views and may not be shared by the AMC’s and the investment teams. Please read detailed disclaimer for more.