Edelweiss Mutual Fund has launched a new fund named Edelweiss Fixed Maturity Plan - Series 55, a close ended Income scheme. The tenure of the scheme is 38 Months from the date of allotment. The new issue will be open for subscription from 07 March 2019 to 12 March 2019.
The investment objective of the scheme is to generate income through investment in Debt and Money Market Securities maturing on or before the Maturity Date of the Scheme.
The scheme offers growth and dividend payout option.
The scheme would invest 80% - 100% of its assets in debt Securities with Low to Medium risk profile, upto 20% of its assets in money market Securities with low risk profile.
Minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund manager of the scheme is Gautam Kaul and Rahul Dedhia.