Edelweiss Recently Listed IPO Fund review: Not for the risk-averse investor
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Summary:
Edelweiss maiden opportunity Fund series -1 (EMOF) has been converted into an open-ended fund from being close-ended earlier. The new scheme is named as Edelweiss Recently Listed IPO (ERLI). Existing investors of EMOF have the option of exiting at the prevailing net asset value (NAV), without exit load, from May 28 to June 28, 2021. Investors who wish to stay on will automatically get their units converted to the open-ended scheme. The conversion will take place on June 29, 2021.
What’s on offer
EMOF was rolled out in February 2018 and the scheme was to mature on June 28, 2021. It has given 15.59 percent returns since inception and has assets under management of Rs 522 crore. Being a close-ended fund so far, it used to invest in IPOs – initial public offering – of stocks. Now, after ...