Essel Mutual Fund launches a multicap fund

Essel Mutual Fund has launched Essel Multi-Cap Fund, the first equity mutual fund scheme under the Essel brand. Essel Multi-Cap Fund is an open-ended equity scheme that will invest across largecap, midcap, and smallcap stocks. The new fund offer or NFO will open on June 18 and will close for subscription on July 2.

“We have almost tripled our Assets Under Management (AUM) after the change of our name to Essel Mutual Fund. Our aim is to have an AUM of around Rs 10, 000 crore in the next 12 months. To achieve the same, we have lined up four to five New Fund Offer (NFO) launches this year and also will grow AUM of our existing funds. Our new multicap fund is the second one this year,” said Rajiv Shastri, Executive Director and CEO, Essel Mutual Fund.

Shastri added that they received close to 15,000 applications for the first NFO of this year.


Essel Multi-Cap Fund would diversify across industries, sectors and market capitalisation. The investment emphasis of the scheme would be on identifying companies with good corporate management and have prospects of future growth. The focus would be on stocks driven by long-term fundamentals, the fund house said in a press release.

“Multicap strategy intends to offer higher returns at comparable risks over a longer period of time. It is the right strategy to participate in the Indian equity market, given the current market scenario and the reclassification norms,” Viral Berawala, CIO, Essel Mutual Fund, said.