Edelweiss Business Cycle Fund garners Rs 1,800 cr in NFO
Asset Management Ltd on Thursday said it has garnered over Rs 1,800 crore during the new fund offering (NFO) of its Business Cycle Fund. Edelweiss Business Cycle Fund, an open-ended equity scheme, was open for subscription between July 9 and July 24.
In a statement, the mutual fund house said that NFO received a strong response from investors, with over 90,000 applications amounting to more than Rs 1,800 crore.
The fund employs a business cycle-based investment theme designed to capture market opportunities effectively. It aims to dynamically rotate between sectors over different time periods, seamlessly combining momentum with fundamentals to enter and exit sectors, having the potential to generate better alpha.
«This (response) reaffirms our stakeholders' confidence in our 15-year track record of managing factor-based investing strategies and strengthening our position as one of the largest asset managers in this space,» Radhika Gupta, MD and CEO of Edelweiss Mutual Fund, said.
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