Edelweiss' Business Cycle Fund NFO Attracts Over Rs 1,800 Crore

Edelweiss Asset Management Ltd secured over Rs 1,800 crore during the new fund offering of its Business Cycle Fund, an open-ended equity scheme. The NFO saw a robust investor response with over 90,000 applications, highlighting stakeholders' confidence in the firm's 15-year track record of managing factor-based investing strategies.

Edelweiss Asset Management Ltd announced on Thursday that it raised more than Rs 1,800 crore during the new fund offering (NFO) of its Business Cycle Fund. The open-ended equity scheme was available for subscription from July 9 to July 24.

The mutual fund house received a strong response from investors, garnering over 90,000 applications totaling more than Rs 1,800 crore.

The Business Cycle Fund employs an investment theme based on market cycles, aiming to dynamically rotate between sectors to capture market opportunities. Radhika Gupta, MD and CEO of Edelweiss Mutual Fund, stated that the response reaffirms stakeholders' confidence in their 15-year track record in managing factor-based investing strategies.