Edelweiss Mutual Fund to launch two liquid schemes
Edelweiss Mutual Fund is set to launch two new schemes next month and plans to offer 10 to 12 new innovative products in over one year.
By PTI |
MUMBAI: Edelweiss Mutual Fund is set to launch two new schemes next month and plans to offer 10 to 12 new innovative products in over one year.
Edelweiss Liquid Fund, an open-ended liquid scheme and Edelweiss Liquid Plus Fund, an open-ended debt plan will open on September 1 and close on September 8, a top company official said here on Tuesday.
The objective of the liquid scheme is to provide optimal returns, commensurate with low-risk and high degree of liquidity, through a portfolio constituted of money market and short-term debt instruments.
The aim of the debt plan is to provide reasonable returns, commensurate with moderate level of risk and high degree of liquidity, through a portfolio constituted of money market and debt instruments.
"We will offer 10 to 12 new innovative products in the next 12 months period and want to be among the top 10 mutual fund players in the country in five years," Edelweiss Capital President Rujan Panjwani told reporters.
Asked why Edelweiss was starting with a liquid fund, Panjwani said liquid and liquid plus were easy to launch and besides, getting approval from Sebi was also easy. "More complex the product, the longer it takes to get clearance."
"We will definitely launch an equity scheme and strengthen our own branch network from the present 14 branches," Panjwani said.
Edelweiss Liquid Fund, an open-ended liquid scheme and Edelweiss Liquid Plus Fund, an open-ended debt plan will open on September 1 and close on September 8, a top company official said here on Tuesday.
The objective of the liquid scheme is to provide optimal returns, commensurate with low-risk and high degree of liquidity, through a portfolio constituted of money market and short-term debt instruments.
The aim of the debt plan is to provide reasonable returns, commensurate with moderate level of risk and high degree of liquidity, through a portfolio constituted of money market and debt instruments.
"We will offer 10 to 12 new innovative products in the next 12 months period and want to be among the top 10 mutual fund players in the country in five years," Edelweiss Capital President Rujan Panjwani told reporters.
Asked why Edelweiss was starting with a liquid fund, Panjwani said liquid and liquid plus were easy to launch and besides, getting approval from Sebi was also easy. "More complex the product, the longer it takes to get clearance."
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However, the private mutual fund house plans to launch an equity scheme shortly. "We will definitely launch an equity scheme and strengthen our own branch network from the present 14 branches," Panjwani said.
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