Edelweiss Mutual Fund floated Edelweiss Diversified Growth Equity (E.D.G.E) Fund-an open ended equity scheme. The new fund offer (NFO) is open for subscription from May 4, 2009 to May 8, 2009. The Scheme offers three plans i.e. Plan A, Plan B and Plan C with common portfolio. These plans will have dividend (reinvestment, payout and sweep Facility) and growth option.
The New Fund Offer (NFO) price for the fund is Rs 10 per unit. The minimum application amount under Plan A is Rs. 1000 and in multiples of Re.1; under plan B is Rs.25000 and in multiples of Re.1 and Plan C is Rs.10000 and in multiples of Re. 1 thereof.
The asset allocation under E.D.G.E Fund will be 65%-100% % will be allocated in Equity and Equity related securities; and 0% -35% % will be allocated in debt securities and money market instruments. The scheme will be benchmarked against BSE 500.
The entry load under plan A is 2.25%, plan B and plan C is Nil. If an investment is redeemed with 180 days an exit load of 1.5% will be charged under plan A. Further if investment is redeemed between 181 days up to 365 days an exit load of 1% will be charged.
Under plan B an exit load of 1.50% will be charged if investment is redeemed within 90 days. Investment redeemed between 91 days to up to 365 days an exit load of 1% will be applicable.
Under plan C an exit load of 2% will be charged if investment is redeemed within 180 days. Investment redeemed between 181 days to up to 365 days an exit load of 1.5 % will be applicable. On redemption done after 366 days but before 545 days an exit load of 1% will be charged. Further if an investor redeems his investment after 546 days but within 730 days an exit load of 0.50% will be charged.
The investment objective of the fund is to generate long term capital growth from a diversified portfolio, investing predominantly in equity and equity related securities.