Edelweiss AM launches fund for new and upcoming listings

Edelweiss Asset Management today said it has launched a new scheme, Edelweiss Maiden Opportunities Fund Series 1, with an aim to invest in recently listed companies and upcoming listings.
The new fund offer for the scheme, which is a three year close-ended equity fund, will be open for subscription from February 2 to February 16.
"This fund is first-of-its-kind in the industry that intends to follow a disciplined approach while investing in recent and upcoming listings. The aim is to make investing in such maiden ideas accessible and simpler for retail investors," Edelweiss Asset Management CEO Radhika Gupta said in a statement.

The portfolio will predominantly invest in maiden ideas from recently listed universe and some portion shall be invested in upcoming listings to capture listing and future potential gains.
Further, the fund endeavours to protect downside risk by hedging through long dated put options, the company said.