Peerless MF launches open-ended income fund

Peerless Mutual Fund announced the launch of an open-ended scheme – Peerless Flexible Income Fund. The new fund offer for the scheme will open for subscription on August 16, 2012 and close on August 17, 2012.

This fund has the flexibility to change both the duration and the asset allocation mix of the portfolio in a changing interest rate environment, said a release from the fund house.

“Every change in interest rate provides capital appreciation opportunity. However, it would be difficult for retail investors to time the market and benefit from the same. Therefore, we have launched Peerless Flexible Fund which has more flexibility to realign the portfolio’s average maturity and asset allocation in the changing interest rate scenario,” said Akshay Gupta, MD and CEO, Peerless Funds Management.