Edelweiss Mutual Fund has recently filed the draft papers with SEBI for its new mutual fund named “Edelweiss Overnight Fund which will be launched in the new fund offer. It has filed the draft on March 1st, 2019. This overnight fund will invest in the money market and debt instruments having a maturity of one business day. The offer launching dates have not been announced. Edelweiss Mutual Fund is sponsored by Edelweiss Financial Services, one of India’s top financial services companies. The fund house targets a sum of Rs 20 crores to be raised through this new fund offer.
Edelweiss Overnight Fund – Features
The Edelweiss Overnight Fund scheme has the following important features which are informative for investors:-
- It is an open-ended debt fund scheme.
- This fund aims to generate good returns in a short-term period.
- It will invest in the money market and debt instruments which has one business day’s maturity.
- The scheme offers both regular and direct plans with growth and dividend options.
- A minimum of Rs 5,000 is required as the minimum application amount and any additional application will require a minimum of Rs 500.
- The minimum redemption amount from the fund will be Rs 500.
- There are no entry or exit loads on the scheme.
- As a benchmark index, it will follow the CRISIL overnight index.
- Edelweiss Overnight fund will be managed by fund managers Mr Rahul Dedhia, and Mr Gautam Kaul.
Edelweiss Overnight Fund – Proposed Asset Allocation
The asset allocation scheme of Edelweiss Overnight fund, as proposed by the fund house is summarized below:-
- It will invest the assets of this fund in debt securities and money market instruments with a maturity of 1 business day. A minimum of 0% to a maximum of 100% of the total asset will be invested in these instruments which a low risk associated.
- The scheme will prefer to invest in the repo of corporate debt securities up to that extent which is permitted by the regulators.
- Edelweiss Overnight Fund scheme will not be investing in foreign securities or related instruments.
- The debt securities may be commercial papers, certificates of deposits, government securities, T-Bills, fixed deposits, repo, triparty-repo, non-convertible debentures, bonds, etc.
About Edelweiss Mutual Fund
Edelweiss Mutual Fund was incepted in the year 2008. It is a part of Edelweiss Financial Services Limited, which was formerly known as Edelweiss Capital Limited, a leading financial services conglomerate in India. The assets of this fund house are managed by Edelweiss Asset Management Limited. As on December 31st, 2018, the Asset Under Management (AUM) of Edelweiss Mutual Fund stands at Rs 11,862.33 crore.
Edelweiss Overnight Fund – Important Documents
For further details on this upcoming NFO, please go through this draft paper of Edelweiss Overnight Fund.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
Follow us on Facebook, LinkedIn, and Twitter to get the latest posts.
Tags: #Upcoming NFO 2019 #Edelweiss Mutual Fund #Edelweiss Overnight Fund
