Edelweiss Mutual Fund has launched Edelweiss Gilt Funds, an open-ended Gilt scheme. The primary objective of the scheme is to generate income and capital appreciation by investing predominantly in securities issued by the Government of India or State Governments. (View - New Fund Offers open NOW)

The new fund offer (NFO) open for subscription from June 30 to July 1, 2009.  The fund will re-open on July 9, 2009.  The NFO price is Rs 10 per unit.

The Scheme offers two options viz. Growth option and Dividend option, under dividend option, the investor can choose either dividend payout or reinvestment option.

Minimum investment amount is Rs 5,000 and in multiples of Re 1 thereafter.

The scheme will not charge any entry load. Exit load  of  0.50% if redeemed within 6 months from the date of allotment.

The scheme will invest 65-100% in government securities. The scheme may invest upto 35% in debt and money market instruments. Money Market Instruments include CPs, CDs, Corporate Debts, T-Bills, and Government securities with an unexpired maturity upto one year, commercial bills, usance bills, CBLOs, Repo/ Reverse Repo and any other like instruments with a maturity of upto 1 year or less, as specified by the RBI from time to time.

The Fund would be managed by Pankaj Jain. The scheme will be benchmarked against I-Sec Composite Gilt Index.

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