Edelweiss MF launches Nifty Enhancer Fund

Edelweiss Asset Management Limited, has announced the launch of the Edelweiss Nifty Enhancer Fund, an open-ended equity scheme. Edelweiss Asset Management is the investment manager to Edelweiss Mutual Fund. The new fund offer (NFO) opens on June 8 and closes on June 10, a press release issued here stated.

The fund will re-open for ongoing purchase and redemption from June 29 and the benchmark index for the scheme will be the S&P CNX Nifty Index, the release added.

“The fund is an innovative and unique fund that aims to consistently outperform its benchmark over a period of time,” the release said. Under normal circumstances, the fund will be invested in Nifty derivatives and will look to enhance returns by effectively investing in other available low-risk (equity/debt) opportunities. The combined effect of the above will result in “enhanced” returns, the release said.

The fund also offers unique features like “Expiry Day Trigger Facility” where one can avail of a lower exit load facility for exiting the scheme, thereby enabling facility of automatic profit-booking and facilitating portfolio balancing, the release said.