NewZNew (Chandigarh) : Peerless Funds Management Co. Limited (PFMCL), Investment Manager to Peerless Mutual Fund, announced the launch of its first midcap fund i.e. Peerless Midcap Fund, (An open ended equity scheme).
The new midcap fund would invest in mid-sized companies, the market capitalization of which range between the largest and smallest capitalized company in the Nifty Midcap 100 Index. Mr. Amit Nigam, Head-Equities, with an experience of 13 years, will be the Fund Manager of the scheme.
Commenting on the launch, Mr. Rajiv Shastri, MD & CEO, PFMCL, said “the launch of our first mid-cap fund is a small yet important step in the company’s early years. Having gained valuable experience in the past six years, we have carved a niche for ourselves with demonstrated ability to manage investments, agnostic to sectors or market movements, thereby offering competitive returns to our investors. We believe that the mid-cap story in the country is on the resurgence, given their valuable role as a harbinger of positive change for the Indian economy in the coming years. With this fund, we seek to marry our expertise in research with the immense opportunity and growth expected to unfold in the coming years. We believe that the investors will look favorably at the NFO being offered.”
Amit Nigam, Head- Equities, PFMCL, said, “We believe mid-sized companies would benefit from the growth wave in the coming years on account of rising consumption and improving aspirations. Our internal, bottom up stock selection process based on a proprietary score gives us confidence to deliver favorable returns to the investors, going forward.”
Highlights of the Scheme:
- Minimum Application Amount – Rs. 1,000/- and in multiples of Re. 1/- thereafter.
- Benchmark Index: Nifty Midcap 100
- Plan/ Options available – Regular Plan and Direct Plan, both having Growth & Dividend Options.
- Load: Entry Load: N.A.
- Exit load: NIL
NFO opened on 16th November 2015 and closes on 30th November 2015
