Principal Mutual Fund

Principal Asset Management Private Limited is one of India’s oldest and most trusted Asset Management Companies (AMC). It was founded as a trust in 1882, following the rules of the Indian Trusts Act. It was previously known as IDBI Principal Mutual Fund; however, the IDBI Group is no longer linked with the fund company. On 31st December 2021, Sundaram Asset Management Limited acquired Principal Asset Management Private Limited. Principal Mutual Fund has managed to double its net Assets Under Management (AUM) in the last three years. 

Principal Mutual Fund was established in 1994 as a consequence of an IDBI Bank Trust Deed. IDBI bank was the only settler at the time. Principal Financial Services Inc. of the United States bought a 50% share in Principal Mutual Fund in 2000. In 2003, Principal Financial Group Mauritius, a wholly-owned subsidiary of the Principal Group, purchased the entire company, and it was renamed Principal Asset Management Company Pvt. Ltd. Two PSU banks, namely Vijaya Bank and Punjab National Bank, were also asked to join in 2004. 

Principal Asset Management Company Pvt. Ltd. also has several regional offices across India. It has employed two independent auditors to oversee all financial operations and ensure that everything is in order. 

Principal Mutual Fund offers two arbitrage funds, two of each of the balanced and global funds, four liquid funds, more than three short-term income funds, and over eight ultra short-term funds. It also has 67 active schemes. These include medium-term, short-term, and long-term funds, Gilt funds, and other forms of funds. It offers a variety of products, including debt, equity, and hybrid. Registered with SEBI, the company aims to disseminate efficient financial inclusion across the country. Furthermore, there is plenty of space for expansion in an economy as diverse as India’s.

Principal Asset Management Private Limited serves more than four lakh clients and 20,000 distributors pan India. With a 30-year-old financial history, their global experience is a valuable tool in making sound market decisions transparently and safely. 

Top 10 Principal Mutual Funds Schemes –

Fund Name
Category
Risk
1Y Returns
Rating
Fund Size (in Cr)
Name of the Mutual Fund Principal Mutual Fund
Asset Management Company Name Principal Asset Management Private Limited
Setup on  25th November 1994
Date of Incorporation 20th November 1991
Sponsor Name Principal Financial Services Inc., USA
Trustee Name Principal Trustee Company Private Limited
Managing Director & Chief Executive Officer Mr. Lalit Vij
Chief Information Officer Mr. Rajat Jain
Auditors B. Srinivasa Rao & Co

Chartered Accountants

7-1-621/A, East Srinivas Nagar Colony, Srinivasa Nagar, Ameerpet, Hyderabad, Telangana 500038

Registered Office  Exchange Plaza Ground Floor

B Wing NSE Building

Bandra Kurla Complex Bandra(East) Mumbai – 400051

Tel: 022-67720555

Fax: 022-67720512

 

Principal Mutual Fund  – Top Fund Managers 

Ms. Rupali Pandit

Ms. Rupali Pandit has worked in various aspects of wealth, asset, and risk management for 19 years. She has a Bachelor’s degree in Commerce and has passed the Intermediate CA exam. As an Equity Dealer, she has worked with some of the world’s most prestigious financial institutions, including GIC Limited, IL&FS, and ABN AMRO. She works at Principal Asset Management Private Limited in the Equity Dealing division.

Mr. Siddarth Mohta

Mr. Siddarth Mohta is a well-known figure in the Indian mutual funds industry, having worked for Adventity Solutions Limited, Polaris, and ICRA. Mr. Mohta holds a Bachelor’s degree in Commerce as well as a Master’s degree in Management. Since 2009, he’s been working with Principal Asset Management Private Limited as Associate Fund Manager. 

Mr. Aashish Khubchandani

Mr. Aashish Khubchandani is a bright young fund manager. He was a senior executive at Crest Finserv before joining Principal Mutual Fund. Previously, Crest Finserv was known as Tullett Prebon India. Mr. Khubchandani is a CFA charter holder and one of India’s youngest professional fund managers to hold such a senior executive position in a mutual fund company. 

Mr. Rajat Jain

Since its beginning, Mr. Rajat Jain has been with Principal Mutual Funds and is a senior professional in the mutual funds market. At the same time, he has almost three decades of investment banking experience. Mr. Jain is the Chief Investment Officer at Principal Mutual Fund. He is a graduate of the Indian Institute of Management and a Mechanical Engineer from the National Institute of Technology. 

Mr. Ravi Gopalakrishnan

Mr. Ravi Gopalakrishnan has 25 years of experience in the field of research and asset management. He has previously worked with a number of fund houses, including Fun F&C AMC, Prameria AMC, and Canara Robeco. He has worked as a fund manager for a variety of small-cap, multi-cap, and large-cap funds. He has an MBA as well as a Master’s degree in Finance.

Ms. Bekxy Kuriakose

Ms. Bekxy Kuriakose has over 18 years of experience in research, dealing, and fund management. She works with Principal Mutual Fund as the Head of Fixed Income. She previously worked as Assistant Vice President at the L&T fund house, as well as a Fund Manager at SBI Mutual Fund and Reliance Life Insurance. She graduated from the Indian Institute of Management in Bangalore with a PGDM.