Edelweiss Mutual Fund launches New Open Ended Scheme
27/04/2015 10:04
Edelweiss Mutual Fund has launched a new open ended exchange traded fund scheme named “Edelweiss Exchange Traded Scheme- Nifty (Nifty EES)”.
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on April 24 and will close on May 5, the scheme will reopen on or before May 14.
According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be nil. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount is Rs 10,000 and in multiples of Rs 1 thereafter.
The performance of the scheme will be benchmarked against CNX Nifty Index. Ashish Sahay and Bhavesh Jain will be the fund managers of the scheme.
The asset allocation of the scheme will be in such a way that the objective of the scheme will be to provide returns before expenses that closely correspond to the total returns of the CNX Nifty subject to tracking errors. Hence, the scheme will allocate 95 to 100 per cent of asset in Stocks Constituting CNX Nifty Index and 0 to 5 per cent of asset in Debt and Money Market Instruments.
27/04/2015 10:04
Edelweiss Mutual Fund has launched a new open ended exchange traded fund scheme named “Edelweiss Exchange Traded Scheme- Nifty (Nifty EES)”.
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on April 24 and will close on May 5, the scheme will reopen on or before May 14.
According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be nil. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount is Rs 10,000 and in multiples of Rs 1 thereafter.
The performance of the scheme will be benchmarked against CNX Nifty Index. Ashish Sahay and Bhavesh Jain will be the fund managers of the scheme.
The asset allocation of the scheme will be in such a way that the objective of the scheme will be to provide returns before expenses that closely correspond to the total returns of the CNX Nifty subject to tracking errors. Hence, the scheme will allocate 95 to 100 per cent of asset in Stocks Constituting CNX Nifty Index and 0 to 5 per cent of asset in Debt and Money Market Instruments.
