This new mid-cap scheme from Peerless Mutual Fund will be just another addition to the many other schemes with the same investment objective
After launching its first equity scheme in September 2011, Peerless Mutual Fund (MF) launched its second open-ended equity diversified scheme— Peerless Midcap Fund. The earlier scheme, Peerless Equity has a corpus of Rs137 crore with about 12,500 folios as on 30 September 2015. The new scheme will join a list of 50 other small-and mid-cap oriented schemes. The scheme will invest 65%-100% in mid-cap stocks. The fund house defines mid-cap stocks as those stocks which have a market capitalization within the smallest capitalised company and highest capitalized company present in its benchmark index—the CNX Midcap index, now known as the Nifty Midcap 100 index. The balance portfolio will be invested in debt and money market instruments.
With retail investors still putting money in to equity mutual fund schemes, the fund house will be looking to capitalise on this trend. Investors, however, already have several options to choose from.
The scheme will be managed by Amit Nigam jointly with Killol Pandya. Nigam has over a decade of experience in equity research and investments.
Additional Scheme Details
Benchmark Index: Nifty Midcap 100 index
Minimum Initial Purchase: Rs1,000 and in multiples of Re1
Additional Purchase: Rs100 and in multiples of Re1 thereafter
Minimum Redemption: Rs1,000 and in multiples of Re1 thereafter
Maximum total expense ratio (TER) permissible under Regulation 52 (6) (c) (i)-Upto 2.50%
Additional expenses under regulation 52 (6A) (c) - Upto 0.20%
Additional expenses for gross new inflows from specified cities - Upto 0.30%