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Pradhan Mantri Jeevan Jyoti Bima Yojana Has Insurers Worried
Insurers have not dealt with such a huge scale; hence, wary of the claims
 
In May...
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Peerless Midcap Fund – Late to the party
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
 
Exit Load
 
Nil
 
Expense Ratio
 
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% 
 

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MMRDA spent Rs1.46 crore as legal fees to oppose fare hike of Mumbai Metro

MMRDA has filed several cases in the courts opposing the unilateral fare hike by Mumbai Metro One and paid about Rs1.46 crore in legal expenses, reveals a RTI

 

The Mumbai Metropolitan Region Development Authority (MMRDA) has spent almost Rs1.46 crore as legal fees to oppose the fare hike of Mumbai Metro One, reveals a reply received under Right to Information (RTI) Act.
 
According to reply received by RTI activist Anil Galgali, the Authority, opposing unilateral fare hike by Reliance Infrastructure-led Mumbai Metro One Pvt Ltd (MMOPL), retained services of Khaitan & Co and paid Rs1.45 crore, as legal fees including expenses. In addition, MMRDA also incurred Rs1 lakh expenses on officials, including Additional Chief K Vijayalakshmi, Joint Project Director Yogita Paralkar and Superintending Engineer MC Devrao, who were present during Court trials.
 
"However, despite spending so much amount, the MMRDA has failed to get any respite," says Galgali. "Unless and until a modification is enacted in the Metro Act, the MMRDA will have no control on the fares of Mumbai Metro One, for which the Chief Minister Devendra Fadnavis should put in his best efforts to properly present its case with the Central Government," he added.

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COMMENTS

Bapoo Malcolm

1 year ago

You mean clients like THAT exist?
Would give an arm and a leg.

Bapoo Malcolm

1 year ago

You mean clients like THAT exist?
Would give an arm and a leg.

We are listening!

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