Edelweiss AMC converting its IPO-focused Maiden Opportunities Fund into an open-ended Fund
The new fund will be re-named as Edelweiss Recently Listed IPO Fund
Mumbai May 20, 2021: Edelweiss Asset Management Limited is converting its Edelweiss Maiden Opportunities Fund – Series 1 (EMOF), a close ended fund that focuses on recently listed IPOs with AUM of Rs. 522 crore (as on April 2021) into an open-ended fund. This will be India’s first open-ended fund focused on investing in 100 recently listed IPOs and will be re-named as Edelweiss Recently Listed IPO Fund. This conversion will be effective from June 29, 2021.
EMOF was launched as a close-ended fund in February 2018, with a tenure of 3+ years, which ends in June 2021. The fund provides access and right selection of IPOs to capture listing and post listing gains and has returned 14.3% vs. 11.2% Nifty 500 TRI (benchmark). The fund has been investing in new-age businesses across multiple sectors that went public through IPO in recent years.
Explaining the reasoning behind the conversion, Ms. Radhika Gupta, MD & CEO, Edelweiss Asset Management Ltd. said, “India is currently witnessing its busiest pipeline of IPOs which is expected to remain buoyant. Edel we iss’s unique expertise in IPOs is reflected in the strong track record of EMOF in the last 3 years. We believe con verting this fund into an open-ended one will give a wider base of investors access to this fund thereby de mocr atizing the IPO opportunities for these investors. It is pertinent to note that an IPO opportunity is not just about listing gains but also about an earnings momentum that bodes well for the right selection of IPOs and Ed elweiss Mutual Fund will bring that opportunity to the investor.”
Edelweiss Mutual Fund has been at the forefront in designing new solutions for investors that can create resili ent value for investors and this has reflected in the various thematic funds right from lau nching the thematic pa ssive index fund investing in domestic and international healthcare companies to target maturity index fun ds, Edelweiss AMC has always aimed at adding long-term value to investors’ portfolios. EMOF’s existing unitholders have an option to exit at the prevailing NAV, without exit load, from May 28, 2021 to June 28, 2021. Investors w ho wish to stay invested will automatically get converted to the open-ended scheme.
Edelweiss Recently Listed IPO Opportunities Fund will be an open-ended scheme and the subscription will open from 29th June, 2021. The fund will invest in high-quality IPO stocks through its 3-step strategy of selecting the right post-IPO stocks for investment, providing access to these companies through the fund and taking advan tage of post-listing gains by continuing to invest in the right selection of stocks.
Performance as on April 30, 2021
About Edelweiss Mutual Fund
Edelweiss Mutual Fund is one of the fastest growing and youngest AMCs in India. It offers a robust platform to a diversified client base across domestic and global geographies. The fund product suite company encompass the entire risk return spectrum and is designed to offer the best opportunity for investment growth in Indian & glo bal asset classes. Its world class knowledge platforms ensure its partners and investors are abreast of inform ation and insights at all times. Through innovation and cutting-edge technology, the company has been striving to provide the best digital experience to investors and partners. For more information please visit: www.edelweissmf.com
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About Edelweiss Group
The Edelweiss Group is one of India’s leading diversified financial services companies, providing a broad range of financial products and services to a substantial and diversified client base that includes corporations, institutio ns and individuals. Edelweiss’ products and services span multiple asset classes and consumer segments across domestic and global geographies. Its businesses are broadly divided into Investment & Advisory (Wealth Mana gement, Capital Markets, Asset Management and Asset Reconstruction), Credit (Retail Credit comprising Retail Mortgage, SME and Business Loans, ESOP and Margin Financing, Agriculture & Rural Finance and Corporate Cre dit comprising Structured Collateralized Credit to Corporates and Wholesale Mortgages) and Insurance (Life and General Insurance). To learn more about the Edelweiss Group, please visit www.edelweissfin.com.
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