Mumbai: Edelweiss Asset Management Limited (‘EAML’) today announced the New Fund Offer (NFO) opening of the third ETF of Edelweiss Mutual Fund, ‘Edelweiss ETF – Nifty Quality 30’. The index consists of 30 stocks selected on the basis of a quality score by India Index Services & Products Limited (IISL). The first-of-its-kind Open-Ended Exchange Traded Fund (ETF) will be managed by Fund Managers Bhavesh Jain and Kartik Soral, and will close on May 20, 2016. Edelweiss ETF – Nifty Quality 30 will be listed on the National Stock Exchange and will re-open for subscriptions on or before June 1, 2016.
The investment strategy adopted aims to cover companies, which have a financially strong track record, as evidenced through historical financial indicators such as return on equity, debt to equity, and average year-on-year growth in terms of profit after tax (PAT), over the past three years. It is a suitable fit for investors seeking an opportunity to generate long-term appreciation by investing in India’s best performing companies.
Talking about the launch of Edelweiss ETF – Nifty Quality 30, Mr. Vikaas M Sachdeva, CEO, Edelweiss Asset Management Ltd. said, “Keeping in mind investors’ interest, Edelweiss ETF – Nifty Quality 30 is the first opportunity to tap in to far better returns, but at lower costs as can be seen from the positive returns that this index has given since inception.”
“The Nifty Quality 30 index has delivered stellar performance in bull and bear phases compared to Nifty 50 and the CRISIL AMFI Large Cap Fund Index. The ETF will provide a great opportunity for investors to make money in the long-run”, added Mr. Manas Shukla, Segment Head – ETF, Edelweiss Asset Management Ltd.
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