Edelweiss Mutual Fund’s Multi Cap Fund NFO Raises Over Rs 1000 crore, with over 65,000 applications
Edelweiss Mutual Fund (EAMC/EMF), one of India’s fastest-growing AMCs, has successfully raised over Rs 1,000 Crores including STeP feature in its newly launched Multi Cap Fund. The Edelweiss Multi Cap Fund has recorded the highest collection ever achieved by Edelweiss MF in an equity NFO, with over 65,000 applications. The NFO was open between 4th to 18th October 2023; Edelweiss Multi Cap Fund will re-open for subscription from 30th October onwards.
Radhika Gupta, MD & CEO of Edelweiss Mutual Fund said “We are delighted by the overwhelming response to the Edelweiss Multi Cap Fund NFO, and we thank our distribution partners and investors for their faith and trust in us. This enthusiastic reception also reaffirms their belief in our experience in successfully managing equity funds over the last 15 years.”
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The primary objective of Edelweiss Multi Cap Fund is to generate long-term capital appreciation by investing in a diversified portfolio of equity & equity-related instruments- 25% each in large cap, mid cap, and small cap stocks. Trideep Bhattacharya, Sahil Shah and Amit Vora will manage the scheme. The performance of the scheme will be benchmarked against NIFTY 500 Multicap 50:25:25 TRI. The fund house’s FAIR investment framework helps in identifying robust and clean businesses available at acceptable prices without being biased toward either value or growth investing styles. The company will use its forensic framework and prioritize reasonably priced businesses with medium-term earnings potential. The investment approach will remain style-agnostic, focusing on well-managed companies with scalable opportunities and superior return on capital employed, aiming for sustained long-term returns.
Multi-cap funds as a category has given 15.84% returns on an average in last one year, as per Value Research. 22 multi-cap schemes put together manage assets worth Rs 93,756 crore worth of assets, as on September 30, 2023.