Peerless Mutual Fund is looking to widen its vernacular appeal to increase engagement with people in interior India, its Managing Director and Chief Executive Officer, Mr Akshay Gupta, has said.

Plans are afoot to design banners and application forms in languages such as Telugu, Tamil and Gujarati. Investors can also reach out to call centres and communicate in these languages for buying the products of the fund house, he said.

At present, Peerless Mutual Fund’s marketing and communication is centred around Hindi, English, Malayalam and Bengali.

Of the 35 branches of this mutual fund house, 18 are in Tier-3 and Tier-4 cities. “We have concentrated on our strengths. We have stayed away from the herd mentality and focused on these cities where expenses are also low for us,” Mr Gupta said.

As on date, Peerless Mutual has about six products and total assets under management (AUM) of about Rs 5,000 crore. Of the total AUM, over 90 per cent has come from the institutional front. The six products are Liquid and Liquid Plus (ultra short-term), short-term income fund, income-plus (MIP), child plan and equity fund.

Mr Gupta said the fund house was looking to launch a debt fund with flexible income plan (dynamic bond fund). However, no deadline has been fixed for this product launch.

The fund house aims to grow its customer base from current 50,000 to 2,00,000 in the next three years, he said, adding that points of sale will be ramped up to 25,000.

>srivats.kr@thehindu.co.in

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