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Edelweiss Mutual Fund files offers document for S&P 500 ETF Fund of Fund
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Edelweiss Mutual Fund has filed offer document with SEBI to launch an open-ended fund of funds scheme named ‘Edelweiss S&P 500 ETF Fund of Fund’. The New Fund Offer price is Rs 10. Entry load will be nil and Exit load if the units are redeemed / switched out on or before 365 days from the date of allotment will be 1.00%; If the units are redeemed / switched out after 365 days from the date of allotment will be nil. The Scheme offers growth and dividend option for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme is benchmarked by S&P 500TRIndex. The minimum application amount is Rs 5,000 and Re 1 thereafter.
The investment objective of the scheme is to provide long-term capital appreciation by investing in units of ETFs which generate returns before expenses that closely correspond to the total returns of the S&P 500 subject to tracking errors.
