Mumbai, May 15 (PTI) Peerless Funds Management Co Ltd (PFMCL) today said it has relaunched the erstwhile MF Child Plan as 3 in 1 Fund.
The Fund is an open-ended hybrid scheme which invests in debt, gold ETFs and equity in a manner that optimises risk and return with the potential of delivering better risk-adjusted returns.
The erstwhile Peerless MF Child Plan was rolled out in April 2011 by introducing gold as an asset class, together with debt and equity assets.
After studying the merits of the approach, the company decided to revive the strategy and got Sebi approval for its re-launch as an open-ended hybrid scheme.
This will now be offered to all permitted categories of investors across all age groups compared with the earlier Peerless MF Child Plan, which was open only for investment on behalf of children below 18 years of age.
"With this product, we are introducing the concept of gold as a risk management tool to manage portfolio risk.
The problem with the earlier scheme was that it allowed investment on behalf of minors only and hence we have relaunched the product," PFMCL managing director and chief executive Rajiv Shastri told PTI.
"While 20 per cent of the fund will be invested in gold, another 20 per cent will go to equities and the remaining will be invested in fixed income in the revamped scheme.
This is the first of a series of innovative research-driven products we plan to launch in coming months," he added.