Tuesday, February 19, 2013

Peerless MF introduces Cash Investments facility in partnership with Allahabad Bank

Trivendrum Feb 20, 2013: In an industry pioneering move, Peerless Mutual Fund has introduced the

option of investing using cash in retail mutual fund schemes through select Allahabad Bank branches.

This is in accordance with to SEBI’s guidelines of allowing cash investments by investors up to Rs.20000 /

- per investor, per mutual fund, per financial year.


Making the announcement on the partnership and the new facility, Mr. Akshay Gupta, MD and CEO,

Peerless Funds Management Company said, “Peerless Mutual Fund aims to cater to un-banked

customers in tier III and tier IV locations through this facility. Allahabad Bank has a strong presence

in these markets and synergy of both organizations will help customers, who wish to take advantage

of the growing capital markets through our well performing schemes. The cash purchase facility is

available immediately at select Allahabad Bank branches and will be further extended gradually to

2500 branches across India.”


Investors can choose to invest in Peerless Income Plus Fund, Peerless Child Plan, Peerless Equity Fund

and Peerless Short Term Fund. The combination of cash investments coupled with non-requirement of

PAN for such investors, being less than Rs. 50,000, will widen the reach of mutual funds amongst semi-

urban / rural segment.



About Peerless Mutual Fund



Peerless Mutual Fund is one of the fastest growing MF companies in India. The company is sponsored

by The Peerless General Finance India Co Ltd, a diversified business group with mainstay in Financial

Services and is the first mutual fund company headquartered in Eastern India - Kolkata.



The company started its operation in February 2010 and has managed to build up an AUM size of over

Rs 5,000 Cr in less than 3 years of time. The company has presence in 38 locations with geographical

focus on semi-urban and rural areas to tap retail investors.

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