Edelweiss MF launches 'Edelweiss Select Midcap Fund'

The scheme seeks to invest 80% to 100% of the net assets in equity and equity related securities of companies ranked between 101 to 300

Edelweiss Mutual Fund has launched Edelweiss Select Midcap Fund, an open-ended equity scheme, with an objective to generate long term capital appreciation from a portfolio predominantly comprising of equity and equity related securities of mid cap companies.

"The quant model of the fund will help to capture the market trend by analyzing the factors that are currently driving stock performance. It will also make the fund process oriented, adaptive in nature and will result in consistent performance across time periods," said Vikaas M Sachdeva, chief executive of Edelweiss Asset Management Co, in a release.

The scheme seeks to invest 80% to 100% of the net assets in equity and equity related securities of companies falling in Top 101 to 300 companies by market capitalization listed in India, up to 20% of the net assets in equity and equity related securities of other companies listed in India and up to 20% of the net assets in debt and money market instruments. It will not invest in securitized debt.

The new fund offer (NFO) of the scheme opens on 4th August and will close on 18th August. The minimum application amount is Rs5,000. Investors will have the choice of two options growth and dividend. Further, the dividend option offers dividend reinvestment, payout and sweep facilities.

Source: http://www.moneylife.in/article/edelweiss-mf-launches-edelweiss-select-midcap-fund/18630.html