NFO OPENS ON March 11, 2011 AND CLOSES ON March 25, 2011
Peerless Funds Management Co. Ltd, sponsored by The Peerless General Finance India Co Ltd is launching “Peerless MF Child Plan”, an open ended fund on 11th March 2011.This is a multiple asset class product wherein the investment will be made in Debt, Equity and Gold Exchange traded funds.
The investment objective of the scheme is to generate long term capital appreciation through a portfolio of fixed income securities, Gold Exchange traded funds (ETFs) of other mutual funds and equity & equity related Instruments. Peerless MF Child plan is an open ended scheme and investing minimum 60% and Maximum 90% in debt fund, the scheme will also invest 5-35% in equity and equity related instruments and 5-35% in gold ETFs of other mutual funds.
The scheme comes with two investment options – Growth and Dividend (pay out and Re-investment). The fund provides systematic investment plans (SIPs) to help parents to build capital in installments. Parents can also create multiple SIPs based on various needs or goals planned for their child.
Mr. A C. Chakrabortti, Chairman, Peerless Funds Management Co Ltd commented on the launch saying, “Peerless Mutual Fund is attempting to provide goal-based solutions to the retail investors. The launch of Peerless MF Child Plan is a right step in this direction. Long term investing by the retail investors is necessary for achieving financial planning objectives. The product features, including a minimum lump sum amount of Rs. 1000/- and Rs. 500/- for an SIP, show the resolve of the Peerless group for inclusive investing. ”
Mr. Akshay Gupta, Managing Director and CEO said, “Peerless MF Child Plan is designed to help parents in attempting to achieve their children’s long term goals and take advantage of dynamic management of multiple asset classes like Gold, Equity and Debt. Investment in debt instruments ensures stability and security with regular income while Gold ETF and Equity investment will attempt to achieve capital appreciation in the long term. Inflation levels in India are high and with a view to outperform inflation in long term, Peerless Mutual Fund has introduced this product.”
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The issue price for the scheme is Rs 10 each for cash during the NFO and applicable NAV thereafter on an ongoing basis. No entry and exit load will be charged for Peerless MF Child Plan; however, an exit load of 1% would be applicable, if redeemed before one year. Retail investors can start investment with as little as Rs. 1,000/- in multiples of Re.100/- thereafter during the NFO and on an ongoing basis whereas Minimum Additional Purchase amount would be Rs.100/- The scheme shall reopen for all the transactions within 5 days of allotment.
The fund is benchmarked against Crisil MIP Blended Index + Price of Gold (85:15)
Mr. Ganti N Murthy (Debt) & Mr. Kaushik Dani (Equity Gold Fund) are the Fund Managers for the schemes.
About Peerless Mutual Fund
Peerless Mutual Fund is the first mutual fund company headquartered in Eastern India - Kolkata. The company is sponsored by The Peerless General Finance India Co Ltd, a diversified business group with mainstay in Financial Services.
Peerless MF is one of the fastest growing MF house in India, Company has started operation in February 2010 and managed to build up an AUM size of over ' 4500 crore in a year span of time. The company has created its own presence in around 30 locations to start with having primary focus on Tier II and Tier III locations.
Risk Factors: All Mutual funds and securities investments are subject to market risks and there is no guarantee that the investment objective of the schemes will be achieved. The NAV of the units issued by the Mutual Fund under the schemes can go up or down depending on various factors and forces affecting securities markets. Past performance of the Sponsor or its affiliates/the AMC/the mutual fund or its schemes does not indicate the future performance of the schemes. The Sponsor is not liable or responsible for any loss or shortfall resulting from the operation of any of the mutual fund schemes launched by the AMC. Peerless MF Child Plan is only the name of the scheme and does not in any manner indicate either the quality of the scheme or its future prospects or returns Unit holders in the scheme are not being offered any guaranteed /assured returns.
Scheme specific Risk Factors: Investment in the scheme shall be subject to various risks factors including but not limited to investment in equity and equity related instruments market risk, price risk, liquidity risk etc. The scheme carries risks associated with investing in debt and money market securities, derivatives. Foreign Securities, short selling and securities lending. Investment in mutual fund units involves investment risks such as trading volumes. Settlement risk, liquidity risk and default risk. Trading volume may restrict liquidity. The AMC may choose to invest in unlisted securities which may increase the risk on the portfolio. Also the value of the Scheme investments may be affected by currency exchange rates, changes in law/policies of the government, taxation laws and political, economic or other developments. Investments in debt and money market instruments are subject to interest rate risk, re-investment risk, basis risk, credit risk, spread risk, prepayment risk etc. The scheme will also be affected by by risks associated with investments in Gold ETFs.
Please refer to scheme information document for detailed scheme specific risk factors. Investors should read the Statement of Additional information/Scheme information document/Key information Memorandum available at the investor service centers, amc offices and website of the mutual fund and with distributors carefully before investing.Pl refer to www.Peerlessmf.co.in for further details.
Mutual Fund Investments are subject to market risk. Please read the Scheme Information Document (SID) and Scheme Additional Information (SAI) carefully before investing.