Edelweiss MF raises Rs 1,800 cr via NFO
The new open-ended equity scheme, which was open for subscription during July 9-23, closed with over 90,000 applications
Mumbai: Edelweiss Mutual Fund on Thursday announced it has raised over Rs1,800 crore after successfully concluding the new fund offer (NFO) for the Edelweiss Business Cycle Fund.
According to one of the country’s fastest-growing asset management companies (AMCs), the new open-ended equity scheme, which was open for subscription between July 9 and July 23, closed its issue with over 90,000 applications amounting to over Rs1,800 crore.
“We are delighted by the overwhelming response to the Edelweiss Business Cycle Fund NFO, and we thank our distribution partners and investors for their trust and faith in the brand Edelweiss MF,” said Radhika Gupta, MD and CEO of Edelweiss Mutual Fund.
“This reaffirms our stakeholders’ confidence in our 15-year track record of managing factor-based investing strategies and strengthening our position as one of the largest asset managers in this space,” she added.
Investing across various sectors and market caps, the fund offers a robust solution for core allocation with a long-term focus.The fund deploys a factor investing approach to create three baskets representing quality, growth and value stocks, said the company.