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.
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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