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.