Peerless Funds Management Company has re-launched the Peerless MF Child Plan in a different avatar. The new open end fund is now called Peerless 3 in 1 Fund.
In a bid to deliver better risk adjusted returns, Peerless 3 in 1 Fund will invest in debt, Gold ETFs and equity.
Peerless MF Child Plan was open only for investment on behalf of children below 18 years of age. However, the new fund, Peerless 3 in 1 Fund will be open for investments to all categories of investors.
Commenting on the development, Rajiv Shastri, MD & CEO, Peerless Funds Management Company Limited, said “This relaunch represents our desire to innovate on a continued basis. With this product, we introduce the concept of using an allocation to gold to manage overall portfolio risk. This is based on extensive in-house research and is the first of a series of innovative research-driven products we plan to launch in coming months.”
Launched in 2011, Peerless MF Child Plan has generated a CAGR of 9% since its inception, shows Value Research data. Peerless AMC manages AUM of Rs. 1,147 crore as on March 2015.
