Edelweiss AMC rolls out Large and Midcap Index Fund

Hyderabad Edelweiss Asset Management Ltd, a leading Asset Management Company (AMC), has launched Large and Midcap Index Fund, an open-ended equity scheme replicating Nifty Large Midcap 250 Index. With this launch the company aims to ensure that there is balance between growth (mid cap) and stability (large cap) through Nifty Large Midcap 250 Index allocation.

The investment objective of the scheme is to provide returns that closely correspond to the total returns of the Index subject to tracking errors. This index has strong track record and has performed well compared to large and midcap and flexi-cap funds. The equal weight to large caps and midcaps reduces skewness to any one market cap segment and provides meaningful exposure to promising midcap stocks. This is the first index fund to be launched on Nifty Large Midcap 250 Index.

Radhika Gupta, MD and CEO, Edelweiss Asset Management Ltd, said: "Index funds are gaining popularity, more so due to simplicity of the product. It is uncomplicated as it is easy to track and don't need frequent reviews. The fund is an apt solution for Do-It-Yourself (DIY) and first-time investors for their core investment allocation. This fund is likely to create enduring value in the long run for Investors."