Edelweiss Asset Management Limited, the Investment Manager to Edelweiss Mutual Fund, has announced the launch of 'Edelweiss Diversified Growth Equity (E. D. G. E.) Fund' in the domestic market.

Edelweiss claims that this is the first diversified equity fund launched by the company and has a number of unique features to offer - some of which are industry firsts.

The Fund offers three investor-friendly plans namely, Plan A, Plan B and Plan C with varying entry, exit loads and expense ratios, to cater to various investor segments.

In addition, the newly launched fund also introduces a unique concept of "Right of Accumulation" (ROA) whereby the investor can avail of a discounted / waived exit load by investing a pre-decided amount for a specified time frame and holding the investment through the discounting cycle. There is also the facility of various triggers for the investor to automatically stop losses / book profits and thereby facilitate portfolio rebalancing.

The Benchmark Index for the scheme will be BSE 500 Index and NFO opens on May 4, 2009 and closes on May 8, 2009.

However, the Fund will re-open for ongoing purchase and redemption from May 21, 2009.

(Via StockWatch. Contributed by Sumeet Verma)