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Monday, May 04, 2009

Edelweiss MF launches Edelweiss Diversified Growth Equity Fund

NFO period from 4 May-8 May 2009

Edelweiss Mutual Fund has launched Edelweiss Diversified Growth Equity (E.D.G.E.) Fund. It is an open ended equity scheme. The new issue will be open for subscription from 4 May to 8 May 2009. The NFO price for the fund is Rs 10 per unit. The fund will re-open on 21 May 2009.

Objective: The primary objective of the Fund is to generate long term capital growth from a diversified portfolio, investing predominantly in equity and equity related securities.

Investment Options: The Scheme will have three Plans i.e. Plan A, Plan B, Plan C with common portfolio & will have dividend and growth option. Dividend option shall have reinvestment, payout & sweep facility.

Minimum Application amount: The minimum investment amount under Plan A is Rs 1000 and in multiples of Re 1 thereafter. The minimum investment amount under Plan B is Rs 25000 and in multiples of Re 1 thereafter. For Plan C, the minimum application amount is Rs 10000 and in multiples of Re 1 thereafter.

The minimum target amount to be raised is Rs 10 lakh during its NFO.

Asset allocation: The scheme will invest 65-10% of corpus in equity and equity related instruments with medium to high-risk profile. It will have investment exposure up to 35% in debt & money market instrument with low to medium risk.

Money Market Instruments include CPs, Commercial Bills, Corporate Debt, T-Bills, and Government securities having an unexpired maturity up to one year, CDs, usance bills, CBLOs, Repo/ Reverse Repo and any other like instruments having a maturity of 1 year or less, as specified by the RBI from time to time.

The investments in securitised papers including Pass through Certificates (PTCs) may be made up to 35% of the net assets of the Scheme. The Scheme can also take derivative exposure up to 50 % of the net assets of the Scheme. The Scheme may engage in Stock Lending. Not more than 25% of the net assets of the Scheme can generally be deployed in stock lending and not more than 5% of the net assets of the Scheme will be deployed in Stock lending to any single counterparty. The Scheme may invest in Foreign Securities up to 35% of the Permissible Investments of net assets of the Scheme..

Entry Load: The Plan A charges 2.25% as an entry load for Plan A while no entry load will be charged under Plan B and Plan C.

Exit load:

For Plan A: The scheme will charge 1.50% of exit load if redemption done up to 180 days, 1.00% for redemptions done from 181 days up to 365 days while no exit load will be charged for redemption done after 366 days.

For Plan B: The scheme will charge 1.50% of exit load if redemption done up to 90 days, 1.00% for redemptions done from 91 days up to 365 days while no exit load will be charged for redemption done after 366 days.

For Plan C: The scheme will charge 2.00% of exit load if redemption done up to 180 days, 1.50% for redemptions done from 181 days up to 365 days, 1.00% for exit done from 366 days up to 545 days. The fund will charge exit load of 0.50% if redemptions done from 546 days up to 730 days while no exit load will be charged for redemption done after 731 days.

Benchmark index: The scheme performance will be benchmarked against BSE 500.

Fund manager: Tarbir Shahpuri will be the fund manager for the scheme.

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