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Friday, June 05, 2009

Edelweiss MF launches Edelweiss Nifty Enhancer Fund

NFO period from 8 June to 10 June 2009

Edelweiss Mutual Fund has launched Edelweiss Nifty Enhancer Fund. It is an open ended equity scheme. The new issue will be open for subscription from 8 June to 10 June 2009. The NFO price for the fund is Rs 10 per unit. The fund will re-open on 29 June 2009.

The primary objective of the fund is to generate capital appreciation and income distribution by investing in a portfolio that mimics and endeavors to outperform the S & P CNX Nifty index.

The Scheme will have a single plan with dividend and growth option. Dividend option shall have reinvestment, payout & sweep facility. The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter.

The scheme seeks to collect a minimum corpus of Rs 10 lakh during NFO period.

The scheme will invest 65%-100% in equity & equity related instruments with high-risk profile. It will invest up to 35 % in the debt & money market instruments. 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.

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 100 % 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.

The scheme will charge no entry load. However, the scheme will levy exit load of 1.00% for redemption request received on any business day within & including 180 days from the date of allotment in the scheme. Redemption request received on any business day after 180 days (from 181 days) but before & including 365 days from the date of allotment in the scheme, 0.25% will be the exit load. Redemption request received after 365 days (from 366 days) from the date of allotment in the Scheme, no exit load is applied.

The performance of the scheme is being benchmarked to the performance S& P CNX Nifty.

Gaurav Khandelwal will manage the investments under the scheme.

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