Peerless Mutual Fund launches 'Peerless Flexible Income Fund'
Mumbai: Peerless Mutual Fund has launched the Peerless Flexible Income Fund, a dynamic bond fund with the flexibility of changing both duration and asset allocation mix of the portfolio, a company release said.
The new fund offer (NFO) will open for subscription on August 16 and close on August 17, 2012 and again reopen for sale from August 21 onwards, it said.
"We all know that price and interest rates have inverse relationship. Therefore, 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," Managing Director and Chief Executive Officer of Peerless Funds Management, Akshay Gupta said.
Kolkata headquartered Peerless Mutual Fund is promoted by the Peerless General Finance India Company and has an average assets under management (AUM) of Rs 4,009 crore by the end of June 2012.