Edelweiss Mutual Fund to launch midcap fund by June

NEW DELHI: Edelweiss Mutual Fund today said it plans to launch a midcap-based fund within three months in an attempt to increase the number of products and assets under its management.

"We will be launching our mid cap product at the end of this quarter or at the beginning of the next quarter," Edelweiss Mutual Fund Executive Vice President Peeyoosh Chadda told PTI.

The fund house has assets worth Rs 181.96 crore under management through nine key schemes, according to the latest data available with the Association of Mutual Funds in India.

He added that the asset management firm had received the capital market regulator's approval for Series 1 To Series 3 of its 91 days Edelweiss Fixed Maturity Plan, which would be launched according to the demand for these schemes.

The fund house that targets the equity space, given its background, has no plans to launch a commodity-based product any time soon.

According to him, the next six months will be "challenging", as there is uncertainty in the economy because of the rising crude oil prices and quantitative easing measures.

However, he expects the financial and the technology sectors to deliver good results when companies disclose their earnings for the last quarter of the previous fiscal.