Essel Hybrid Fund, an open ended balanced fund, which was open for subscription till April 30 mopped up Rs.230 crore during its NFO.
Rajiv Shastri, CEO, Essel MF said, “We have collected close to Rs.230 crore through 14,000 applications from our first NFO.”
Shastri further said, “Almost 95% of the applications came from IFAs and NDs. We have received nearly equal response from small as well as large distributors. In terms of investor category, over 95% of applications has come from retail investors, which is very encouraging for us.”
Sharing how his company has collected this amount, Shastri said that the fund house conducted over 400 events over a month for distributors to highlight the philosophy of the fund.
Shastri said that the fund managers would ensure that they hold quality and well researched stocks to deliver consistent performance across market cycles.
Viral Berawala and Kilol Pandya will co-manage the fund.
