Peerless
Equity Fund is multi-cap diversified fund.
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Peerless
Mutual Fund has announced the launch of its first pure equity offering,
“Peerless Equity Fund”, an open ended equity scheme.
Peerless
Equity Fund is multi-cap diversified fund. The portfolio will have optimal
blend of large, mid and small cap stocks based on prevailing macro-economic
& socio-political environment, both domestically and globally.
Akshay
Gupta, Managing Director and CEO said, “Indian equity markets have corrected
significantly. Since peak in Jan 2008 the market has corrected more than 20%.
The SENSEX P/E for FY 2012 on forward basis is estimated close to 14, which
is way below its peak of around 25. We believe in terms of risk-reward ratio,
reward is more favourable on longer a term basis. On the macroeconomic side,
inflation has been key concern domestically, which is being tackled with
hawkish monetary policy measures. Globally, sovereign debt situation,
prevailing across US and Europe, has impacted the market adversely. We expect
situation to stabilize over next 2-3 months. Therefore, retail investors
should take opportunity of market correction and enter the equity assets
class for long term out performance.”
The
primary investment objective of the scheme is to generate long term capital
appreciation by investing in an actively managed portfolio predominantly
consisting of Equity & equity related securities diversified over various
sectors. The scheme will allocate its 80% to 100% in equity and related
instruments and 0% to 20% in debt and related instruments.
The
scheme comes with two investment options – Growth (Default) and Dividend
Option (pay out and Re-investment).
The
issue price of the scheme is Rs. 10 each for cash during the New Fund Offer
and continuous offer for Units at NAV based prices .The entry load charges are
nil for the scheme but exit load will be 1% if redeemed before 1 year &
nil on or after 1 year. Minimum application amount is Rs. 1000 and in
multiples of Rs. 1/ & additional Rs.1. The scheme shall reopen for all
the transactions within 5 days of allotment.
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Source:
http://www.indiainfoline.com/Markets/News/Peerless-Mutual-Fund-launches-Peerless-Equity-Fund/5237327326
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