Edelweiss Mutual Fund launches maiden Liquid & Liquid Plus Funds

Edelweiss Asset Management Ltd, the Investment Manager to Edelweiss Mutual Fund, announced the launch of its maiden funds, Edelweiss Liquid Fund & Edelweiss Liquid Plus Fund. The New Fund Offers open on September 1, 2008 and close on September 08, 2008. The funds will reopen for on-going purchase and redemption from September 11, 2008. The Benchmark Index for both the schemes will be CRISIL Liquid Fund Index. Edelweiss Liquid fund is rated 'AAAf' by CRISIL.

Speaking on the launch, Mr. Jimmy A Patel, CEO, Edelweiss Asset Management Ltd said, "We are pleased to announce the launch of our maiden funds. Going ahead, we will be looking at launching 10-12 products over the next one year across the spectrum of equity, derivatives and debt. It is our endeavor to help investors achieve their financial goals through pioneering initiatives and by introducing innovative products and services at regular intervals. We have already worked towards some industry firsts such as a simplified application form with bar coding for easy tracking and retrieval, online transaction facility for first time investors during the NFO (for Liquid Plus Fund) and on-going basis and other customer friendly facilities like having investors write their PAN on the subscription / additional purchase cheques so as to prevent fraudulent practices."

The stock closed the day at Rs.525.30, down by Rs.11.95 or 2.22%. The stock hit an intraday high of Rs.531 and low of Rs.521.10.

The total traded quantity was 3330 compared to 2 week average of 14643.

Source : Equity Bulls

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