NFO Review: Edelweiss Select Midcap Fund

Edelweiss Mutual Fund has announced the launch of another equity fund after a gap of nearly two years. This fund will be focused on mid cap stocks.

Investment Strategy

The primary investment objective of the scheme is to generate long term capital appreciation from a portfolio predominantly comprising of equity and equity related securities of mid cap companies. The scheme may invest upto 100% in equity and equity related securities of companies falling in top 101 to 300 companies by market capitalization. However, it may also invest upto 20% in other listed companies as well as in debt and money market instruments.

Fund Manager

Mr. Paul Parampreet and Mr. Nandik Mallik will co-manage the scheme. Mr. Paul Parampreet has done PGDM (IIM – Calcutta) and B.Tech (IIT-Kharagpur). With overall experience of 6 years, he has worked with Edelweiss Securities Ltd. SDG India Pvt. Ltd. ICICI Bank and BG India Pvt. Ltd. Mr. Nandik Malik has done MS-Finance (London Business School), PGDM (IIM-C) and B.Tech (IIT-Kharagpur) and has a total experience of over 6 years. Prior to this, he has worked with DC India Capital, Credit-Suisse (London), BNP-Paribus (London), NM Rothschild (Mumbai) and Fair Issac (FICO) (Bangalore). They together manage four other funds - Edelweiss ELSS, Edelweiss Diversified Growth Equity Top 100 A, Edelweiss Nifty Enhancer B and Edelweiss Absolute Return.

Fund House

Edelweiss Mutual Fund has been around for more than three and a half years and has launched eleven funds since then. It's assets under management, as on June 30, 2011, stand at Rs. 258 crores, one fourth of which are under equity funds.

Basic Details

NFO Opens: August 4, 2011
NFO Closes: August 18, 2011
NFO Price: Rs.10
Options: Growth and Dividend
Minimum Application Amount: Rs.5000
Exit Load: 1% if redeemed/switched-out on or before 365 days from the date of allotment
Benchmark: BSE Mid-Cap Index
Fund Manager: Mr. Paul Parampreet and Mr. Nandik Mallik

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