Peerless Mutual Fund to come up with Income Plus Fund

BANGALORE: Peerless Mutual Fund on Wednesday said it planned to come up with an Income Plus fund for retail investors.

Those investing in the fund could expect average returns of 8 to 15 per cent over a three-year period, according to Peerless MF CEO Akshay Gupta.

Eighty to 98 per cent of the funds would be invested in instruments like CD, commercial papers or treasury bills, two to 20 per cent would be invested in equity of blue chip companies, he said.

In the first year, the company expected to do business upto Rs 500 crore, he said.

The fund was aimed at small and retail investors.