PGIM India Mutual Fund has started daily disclosure of short maturity debt portfolios for the next few months. The daily disclosure is aimed at increasing transparency and restore customer confidence, said the fund house.
“Investor confidence has taken a major dent. We want to try change the sentiment and hence, we have introduced this unique initiative to improve transparency and help build trust, especially on the debt side,” said Ajit Menon, CEO, PGIM India Mutual Fund.
The schemes currently covered by this new initiative are PGIM India Overnight, PGIM India Insta cash, PGIM India Money Market and PGIM India Ultra Short term Fund.
Debt
mutual funds have been worried about the safety of their
debt schemes lately. A series of defaults and downgrades has hit many debt mutual funds adversely in the last two years. The surprise decision of
Franklin India Mutual Fund to shut its six debt mutual fund schemes last month has further dented investor sentiment.