Principal Pnb Mutual Fund has announced changes in asset allocation pattern of Principal Ultra Short Term Fund (PUSTF) with effect from March 24, 2009. The scheme accordingly will invest its entire corpus in debt instruments as well as money market instruments with low to medium risk profile.
The scheme would invest in such instruments, which have an average maturity of upto one year. The amount of investment in securitised debt may be upto 50% of the net assets of the scheme. It may also invest upto 50% of net assets of the scheme in such derivative instruments. However, the fund's existing asset allocation pattern is as follows:- The scheme invests 50%-100% of net assets in the fixed rate debt instrument as well as money market instruments while 50-100% in floating rate debt instruments and money market instruments.
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