Peerless MF launches Child Plan

Peerless Funds Management Co Ltd on Wednesday said that it plans to launch an open-ended fund - Peerless MF Child Plan - on March 11.

This is a multiple asset class product wherein the investment will be made in debt, equity and gold exchange traded funds, a press release issued here stated. The NFO, which opens on March 11, closes on March 25, the release said.

The investment objective of the scheme is to generate long-term capital appreciation through a portfolio of fixed income securities, gold exchange traded funds (ETFs) of other mutual funds and equity and equity-related instruments.

Peerless MF Child Plan is an open-ended scheme and investing a minimum 60 per cent and maximum 90 per cent in debt fund, 5-35 per cent in equity and equity-related instruments and 5-35 per cent in gold ETFs of other mutual funds.

The issue price for the scheme is Rs 10 each for cash during the NFO and applicable NAV thereafter on an on-going basis.

No entry and exit load will be charged for the Peerless MF Child Plan; however, an exit load of 1 per cent would be applicable, if redeemed before one year, the release said.

Mr Ganti N Murthy (debt) and Mr Kaushik Dani (equity gold fund) are the Fund Managers for the schemes.