Peerless General Finance & Investment Company is sponsoring Peerless Mutual Fund, which will be soon launching its first equity offering to primarily target the BSE-500 stocks.

"We are launching the equity fund at a time of macro-economic slide. We hope that there would be market correction soon", Peerless MF Managing Director & Chief Executive Mr. Akshay Gupta said.

He also cleared in his statement that the plans suggests funds to make investment in approximately 30 stocks picked from the BSE-500 list, and that too after making thorough research in 250 companies in this sector.

Gupta also said that it’s been only a short while that the Peerless MF has entered the mutual fund business and till now it has earned a sum of approximately Rs. 6,000 Crore as assets under management.

Earlier, there were reports of Peerless MF launching liquid and hybrid funds. But recently, to one of the queries, Mr. Gupta confirmed of no plans yet about making any entry in the portfolio management services. He cleared his above point by saying that the company will only plan to enter those services, once their operations and business gather appropriate momentum to handle same.