Edelweiss Mutual Fund to revoke limit on inflows into Recently Listed IPO Fund

Edelweiss Mutual Fund has decided to revoke the limit for subscriptions in Edelweiss Recently Listed IPO Fund with effect from April 1. In other words, all lumpsum investments including all systematic investments in units of the scheme shall be accepted. Earlier, the fund house had restricted investments to a maximum of Rs 1 lakh per day per investor in February this year.

Edelweiss Recently Listed IPO Fund was launched as a closed-end scheme in 2018 and was converted into an open-ended fund in May 2021. The assets of the scheme had doubled in a very short time frame and hence the fund house had decided to put restrictions on the inflows.

The fund invests in newly-listed companies or those that plan to hit the capital markets soon. Before it turned into an open-ended scheme, the fund was called Edelweiss Maiden Opportunities Fund – Series 1 (EMOF).

“Since we limited subscriptions in the fund, equity markets have corrected and IPO stocks have also corrected meaningfully. We had closed subscription to review liquidity conditions and that too stands comfortable now. Hence, we have decided to remove the limit which will allow investors to take benefit of this correction and invest in the fund at attractive levels,” said Radhika Gupta, MD & CEO, Edelweiss Asset Management Limited.