Essel Mutual Fund has launched Essel Multi-Cap Fund, an open-ended equity scheme investing across the large cap, mid ca and small cap stocks.
The scheme would follow both top down and bottom up approach. The aim is to identify companies with good corporate management and have prospects of future growth.
Rajiv Shastri, the Executive Director and CEO of Essel Mutual Fund, said, “We have almost tripled our AUM after the change of our name to Essel Mutual Fund. Our aim is to have an AUM of around Rs. 10, 000 crore in the next 12 months. To achieve this, we have lined up four to five new fund offer (NFOs) launches this year and will grow AUM of our existing funds. Our new multi-cap fund is the second fund this year.”
He further said, “We got a good response to our first NFO with close to 15,000 applications from 170 cities across India."
Viral Berawala, CIO, Essel Mutual Fund, said, “Multi-cap strategy intends to offer higher returns at comparable risks over a longer period of time. It is the right strategy to participate in the Indian equity market, given the current market scenario and the reclassification norms.”
The new fund offer opens on June 18, 2018 and will close on on July 2, 2018.