| Edelweiss Mutual Fund has launched a new fund named as Edelweiss US Technology Equity Fund of Fund, an open ended fund of fund scheme investing in JPMorgan Funds – US Technology Fund. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 14 February to 28 February 2020.
The primary investment objective of the scheme is to seek to provide long term capital growth by investing predominantly in JPMorgan Funds – US Technology Fund, an equity fund which invests primarily in US technology companies with strong fundamentals.
The scheme will offer two plans regular plan and direct plan. Each plan will only offer growth option.
The scheme would allocate 95%-100% of assets in Shares of the underlying Fund i.e. JPMorgan Funds – US Technology Fund with high risk profile and invest upto 5% money market instruments, cash and cash equivalent and/or units of liquid scheme with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.
The minimum additional amount is Rs 500 and in multiples of Re. 1/- thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Not Applicable.
Exit load: If the Units are redeemed / switched on or before 365 days from the date of allotment – 1.00%
If the Units are redeemed / switched out after 365 days from the date of allotment – Nil
Benchmark Index for the scheme is Russel 1000 Equal Weighted Technology Index.
The fund managers of the scheme are Bhavesh Jain & Hardik Varma.
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