Peerless Mutual Fund has announced the launch of its first equity fund- Peerless Equity Fund.
Peerless Equity Fund will be a multi-cap diversified equity 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. The primary investment objective is to generate long term capital appreciation by investing in an actively managed portfolio predominantly consisting of equity and equity related securities diversified over various sectors. The scheme will invest between 80 to 100% in equity and equity related securities and upto 20% in debt and money market securities.
The investments would not have any industry, sector or market capitalization bias. The strategy would be to invest in stocks and sectors that seem attractive, exhibit strong growth or have the potential for strong growth in the medium to long term. The fund manager would follow a strategy which will be a combination of top-down and bottom-up approach.
Mr. Kaushik Dani will be the fund manager for the scheme.
He is a commerce graduate and an MBA in finance with more than 13 years of experience. Prior to this, he has worked with K. R. Choksey Shares & Securities Pvt. Ltd., Birla SunLife, Sharekhan, SG Asia Securities (India) Pvt. Ltd. and Motilal Oswal Securities Ltd.
Mr. Kaushik Dani also manages the equity investments for Peerless Income Plus and Peerless MF Child.
Peerless Mutual Fund is a recent entrant in the industry. It launched its first fund in February 2010. Currently, the fund house manages five funds with more than Rs 5000 crores of average assets under management.
NFO Opens: September 7, 2011
NFO Closes: September 21, 2011
NFO Price: Rs.10
Options: Growth and Dividend (pay out and re-investment)
Minimum Application Amount: Rs.1000
Exit Load: 1% if redeemed/switched-out on or before 1 year and NIL on or after 1 year
Benchmark: S&P CNX Nifty
Fund Managers: Mr. Kaushik Dani and Mr. Ganti N. Murthy