Edelweiss Mutual Fund has
launched a new fund named as Edelweiss MF Exchange Traded Scheme - NIFTY
(Edelweiss MF NIFTY EES), an open exchange traded fund.
The new fund offer (NFO)
price for the scheme is Rs 10 per unit.
The new issue will be open
for subscription from 24 April and will close on 05 May 2015.
The investment objective of
the scheme is to provide returns before expenses that closely correspond to the
total returns of the CNX Nifty subject to tracking errors.
The scheme does not offer
any plans / or options for investment.The scheme would allocate 95%-100% of
assets in stocks constituting CNX Nifty Index with medium to high risk profile
and invest upto 5% of assets in debt and money market instruments with low risk
profile.
The minimum application
amount is Rs. 10.000
Entry load: Not applicable.
Exit load: Nil.
Benchmark Index for the
scheme is CNX Nifty Index.
The fund managers of the scheme are Ashish Sahay & Bhavesh Jain.
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