Edelweiss Mutual Fund has managed to raise more than ₹1,000 crore through its Multi Cap Fund NFO. The fund has recorded the highest collection ever achieved by Edelweiss MF in an equity NFO, reported Business Line.
The fund will reopen for continuous sale and repurchase from October 30, it said.
As per the report, Deepak Jain, Head – Sales, Edelweiss Mutual Fund, said the response for the NFO demonstrates the faith of over 65,000 investors and over 3,000 distribution partners across India which played an important role in facilitating the fund mobilisation.
The key goal of the Multi Cap Fund is to generate long-term capital appreciation by investing in a diversified portfolio of equity and equity-related instruments across large-, mid- and small-cap stocks.
The scheme will be benchmarked against Nifty 500 Multicap 50:25:25 TRI.
The fund house relies on the FAIR investment framework in identifying robust and clean businesses available at acceptable prices without being biased toward either value or growth investing styles, the report said.
The company will use its forensic framework and prioritise reasonably priced businesses with medium-term earnings potential, it added.
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Updated: 27 Oct 2023, 06:45 PM IST