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Sponsor

The AMC, Peerless Funds Management Co Limited is a subsidiary of The Peerless General Finance and Investment Company Limited (PGFICL) and is sponsored by them.

Shareholder
Type of holding
% Holding of shares of Peerless Funds Management Company Limited
The Peerless General Finance&Investment Co. Ltd
Equity
99.99
Individually
Equity
0.01

Large customer base

  • PGFICL brings a large pool of potential Retail Customers. Currently, PGFICL has an active retail deposit customer base of 8 million having serviced over 45 million since inception
  • 80% of the active customer base of PGFICL are located in areas of rising affluence, i.e. Tier 2 and Tier 3 cities, which are expected to drive retail AUM growth in future

Distribution Platform

  • PGFICL's distribution infrastructure comprises 147 branches and 69,889 sales agents servicing clients across 140 locations
  • 80% concentration is in towns of rising affluence (Tier 2 and Tier 3 towns)

Recognized Brand

  • Peerless has been in existence for over 83 years and has strong recall in East and South India

Financial strength

- Ability to commit capital towards building the asset management business

  • Net owned Funds of over USD 200 million (INR 10 billion) as of FY 09
  • Public Deposits of USD 860 million (INR 43 billion) - all others as FY08
  • Investments of USD 951 million (INR 47.5 billion)
  • Healthy profitability of USD 47 million (INR 2 billion) (Profit Before Tax) yielding a margin of 39.8%

Peerless group is a diversified business house with interests in Financial Services, Healthcare, Hotels, Travel, Construction and Social Services.

Peerless group's mainstay is Financial Services businesses with strengths in mobilizing & managing Retail Deposits, Distribution of Financial Products, Stock broking & Investment Advisory

The deposits under management as on 31 March 2008 were USD 860 mn.

PGFICL currently has an active base of 9 mn retail deposit customers having serviced approximately 45 million retail deposit customers since inception

PGFICL has built a pan-India distribution network comprising 69, 889 sales agents and 147 branches covering 140 locations