Edelweiss Mutual Fund has launched Edelweiss Large and Midcap Index Fund, an open-ended equity scheme replicating Nifty Large Midcap 250 Index.
The investment objective of the scheme is to provide returns that closely correspond to the total returns of the Nifty Large Midcap 250 Index subject to tracking errors. This is the first index fund to be launched on Nifty LargeMidcap 250 Index.
In a press release, Radhika Gupta, MD and CEO, Edelweiss MF said, “Index funds are gaining popularity, more so due to simplicity of the product. It is uncomplicated as it is easy to track and don’t need frequent reviews. This product is based on very unique Nifty Large Midcap 250 Index which balances its exposure to largecaps and midcaps in one portfolio. Complementing active funds in one’s portfolio, the fund is an apt solution for Do-It-Yourself (DIY) and first-time investors for their core investment allocation. This fund is likely to create enduring value in the long run for Investors.”
NFO opens on November 15 and closes on November 26.
