Essel mutual fund has planned to come up with an open-ended equity scheme which is named as ‘Essel Multicap Fund’, it is such kind of a mutual fund scheme that will invest in large, mid and small cap stocks. The scheme has been announced to be launched on 18th June 2018 and the The New Fund Offer () will end on 2nd of July. As per the sources, the fund will invest in large, mid and small-cap companies, as it is an open-ended fund so consumers can also buy the scheme after The New Fund Offer when the multi-cap is officially launched.
Basically, Essel Finance is a small branch of a huge group named Essel group which is in under full control of “Subhash Chandra” and the group is led by this big name. Besides Essel Finance the group has Zee Entertainment and Essel Propack as its other branches as well. Essel Mutual Fund was initiated by Essel Finance in 2016 during the launch of Peerless Mutual Fund.
According to the sources, the Multi-Cap will invest a majority of its fund in equities and the remaining parts in debt, Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InVITs) and the fund will be benchmarked to the Nifty 500 TRI (Total Returns Index). “The Multi-Cap fund which will soon be going to become the market’s hot pick shall be managed by Viral Berawala who is the Chief Investment Officer (CIO) of Essel Mutual Fund”, sources further revealed
Essel Large Cap is the most important and well-known funds of Essel Finance and has a pretty much long history in terms of performance with other equities. From past 5 years in continuation, the fund has broken all the records and has delivered 14.4% and 12.6% compared to the benchmark return of 13.75% and 10.77% respectively. Though last year not being a very good year for this fund and was rather unlucky to be lagging behind the past year delivering 4.76% compared to 13.01% on the index. This Fund was also managed and led by Viral Berawala who is the fund manager of Essel Multicap Fund.
Source even gave his personal view regarding the launch of multi-cap fund on June 18 and said that “The main attraction of the fund scheme that will attract investors and buyers is that the scheme will invest at least 65 percent of its corpus in large, mid and small-cap stocks, while the rest will be invested in bonds and money market securities”.