Edelweiss' IPO fund outperforms benchmarks in bumper year of listings

An Indian fund that invests only in recently listed stocks has outperformed the nation’s benchmark indexes in 2021 despite skipping a majority of the initial public offerings in what’s shaping up to be a record year.

The fund run by Edelweiss Management Ltd. has returned 46% this year, according to the firm, beating gains of 24% for the NSE Nifty 50 Index and 22% by the S&P BSE Sensex Index, which still lead the Asia region among country benchmarks. 

Indian companies have raised $9.9 billion in 60 IPOs so far, on pace for an all-time annual high. Many of the