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Edelweiss Mutual Fund has launched three index funds - Edelweiss Nifty Next 50 Index Fund, Edelweiss Nifty Midcap 150 Momentum 50 Index Fund and Edelweiss Nifty Smallcap 250 Index Fund. These open-ended schemes will replicate performance of Nifty Next 50 Index, Nifty Midcap 150 Momentum 50 Index and Nifty Smallcap 250 Index respectively.
In a press release, Radhika Gupta, MD and CEO, Edelweiss MF said, “The launch of three new equity index funds strengthens our product portfolio within our passive fund offerings. With these products, we intend to reach out to a larger investor base and offer best-in-class solutions for the investor needs.”
Edelweiss Nifty Next 50 Index Fund will invest in 50 companies from NIFTY 100 that are selected after excluding the constituents of NIFTY 50 Index. Their weights are assigned based on companies’ free-float market-cap.
While Edelweiss Nifty Midcap 150 Momentum 50 Index Fund will invest in 50 companies based on the highest momentum score, Edelweiss Nifty Small cap 250 Index Fund will invest in 250 companies representing the companies ranked 251-500 from the NIFTY 500 Index.
