Edelweiss Mutual Fund launches open-ended equity scheme

MUMBAI: Edelweiss Mutual Fund today launched an open-ended equity scheme ' Edelweiss Arbitrage Fund'. The fund will open for subscription on June 12 and close on June 20, 2014.

It seeks to generate income by predominantly investing in arbitrage opportunities in the cash and derivative segments of the equity markets as well as the arbitrage opportunities available within the derivative segment and invest the balance in debt and money market instruments, the company said in a statement.

"As a group, we are known for our expertise in the field of arbitrage. Hence, it was only logical and timely for us to launch this fund at this time when there is immense positivity in sentiment," Chief Executive Officer of Edelweiss MF, Vikaas M Sachdeva said.

He said the new fund is more tax-efficient than liquid and debt schemes, adding that the fund expects to garner sound interest from investors.