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Peerless AMC Files 4 Debt Fund Offers

The new AMC looks to start its fund journey with debt-oriented schemes

Shortly after getting the nod from the Securities and Exchange Board of India (SEBI) that allowed it entry into the asset management business, Peerless Asset Management Company has gone ahead and filed offer documents with the market regulator for the launch of four funds. 

The 53-year-old Peerless General Finance & Investment Company’s (PGFI) newly-founded AMC thus became the first east India-based AMC. 

Akshay Gupta was designated as the Chief Executive Officer (CEO) of the company. 

The AMC will start its maiden journey with four funds as per the offer documents. These are:

Peerless Liquid Fund

This is an open-ended Liquid scheme, which is looking to provide reasonable returns through a portfolio of money market and debt securities. While the fund is targeting an up to 100 per cent investment in money market instruments, it may also invest up to 40 per cent in debt instruments. 

Interestingly, the scheme may also invest in foreign securities in overseas financial markets. 

The fund is to be benchmarked against CRISIL Liquid Fund Index. 

There would be no exit load applicable.

The fund will be managed by Ganti N. Murty who has a 17-year industry experience. 

Peerless MF Savings Fund

This is an open-ended debt scheme and has both growth and dividend options. It would invest through a portfolio of predominantly high quality fixed income securities, but would also have a marginal exposure to equity and equity-related instruments.  

Intriguingly, the fund may also provide accidental insurance cover through the National Insurance Company. However, investors can subscribe to the units without taking accidental insurance coverage as well. 

The fund could invest up to 100 per cent in debt and money market instruments, while it may invest up to 20 per cent in equity and equity-related instruments. 

The fund would be benchmarked against CRISIL MIP Blended Fund Index. 

The exit load applicable will be one per cent, if redeemed within one year.

For debt, Ganti N. Murty is the fund manager (debt) , while Kaushik Dani will control the equity space – he has a 13-year industry experience. 

Peerless Short Term Fund

This is an open-ended debt scheme that will invest in a diversified portfolio of debt and money market securities. The fund offers both growth and dividend options. 

It may invest up to 100 per cent in money market instruments, with likely exposure to debt instruments going up to 75 per cent. The scheme may also invest in foreign securities in overseas financial markets. 

The fund would be benchmarked against CRISIL Short Term Bond Fund Index. 

The exit load applicable would be 0.5 per cent if redeemed within three months. 

Ganti N. Murty will be the fund manager.

Peerless Ultra Short Term

This is an open-ended debt scheme that would invest primarily in a mix of money market and short term debt instruments, which can result in the portfolio having marginally higher maturity. 

The fund may invest up to 100 per cent in money market instruments, while it would invest up to 30 per cent in debt instruments. The scheme may also invest in foreign securities in overseas financial markets. 

The fund has been benchmarked against CRISIL Liquid Fund Index. 

There would be no exit load applicable. 

Ganti N. Murty would the fund manager of this fund as well.