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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