Business
Pioneer ITI to launch two schemes
By Our Corporate Reporter
CHENNAI
FEB. 3.
With the sharp bull run of 1999 and early 2000 and the devastating bear market that had followed, investors have experienced severe volatility in equity fund values. There has been a keen demand that professional fund managers should offer a way to shield them from this turmoil and volatility.
Keeping this in mind Pioneer ITI, is coming out with a new investment product `PE Ratio Fund'. The objective is to provide superior risk-adjusted returns through a portfolio of equities and debt/money market instruments whose allocation keeps varying based on the PE ratio level of the overall market. This passively managed fund is an open ended scheme with a built-in automatic sell-buy mechanism which is triggered by the P/E levels of the target index. In this case this will be NSE Nifty .
Pioneer ITI is also planning to launch `Asset Allocation Fund'. Asset allocation is an integral part of any financial planning exercise whereby the financial planner works out an optimum mix of different asset classes which is best suited to his client.
According to Vivek Reddy, CEO, Pioneer ITI AMC, the fund managers of Pioneer ITI Mutual Fund, the asset allocation is decided after a rigorous discussion between the financial planner and the client and takes into account the client's age, liquidity needs, existing portfolio, present and future earnings, risk profile and the like.
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