Essel Mutual Fund to launch equity hybrid fund on Apr 9; offer to end Apr 23

Essel Mutual Fund will launch Essel Equity Hybrid Fund on April 9, which will remain open for subscription until April 23. The open-ended hybrid scheme will invest at least 65-80 percent of its corpus in equity and equity related instruments, 20-35 percent in debt and money market instruments.

The scheme also has the provision to invest up to 10 percent of its assets in Real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).

This is the first offering from Essel Mutual Fund after it acquired Peerless Mutual Fund in November, last year.

Other features:

Plans: Regular and direct;

Options: Growth and dividend;

Minimum investment: Rs 1,000 and in multiples of one rupee thereafter;

Load: Nil if up to 15 percent of units are redeemed within 365 days of allotment

— 1 percent if more than 15 percent of units are redeemed within 365 days of allotment

— Nil if investments are redeemed after 365 days from date of allotment

Fund Managers: Viral Berawala - Equity & Killol Pandya — Debt