Edelweiss Mutual Fund has launched a new fund as Edelweiss Exchange Traded Scheme - Nifty (Nifty EES), an open exchange traded fund. The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the CNX Nifty subject to tracking errors.
The new fund offer (NFO) will be open for subscription from April 24 to May 05, 2015.The new fund offer price for the scheme is Rs 10 per unit.
The scheme does not offer any plans / options for investment.
The minimum application amount is Rs 10000 and in multiples of Rs 1 thereafter.
The entry load is not applicable, while exit load will be nil.
The scheme would allocate 95-100% of assets in stocks constituting CNX Nifty Index with medium to high risk profile and invest upto 5% of assets in debt and money market instruments with low risk profile.
The benchmark Index for the scheme is CNX Nifty Index.
The fund managers of the scheme are Ashish Sahay and Bhavesh Jain.
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