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Kolkata, April 18

Edelweiss Capital expects its asset management company to obtain all necessary clearances by the end of July. The Chairman, Mr Rashesh Shah, who was here in connection with opening of its new office, told Business Line that Edelweiss was considering three to four equity fund ideas to begin with, which could be innovative in terms of customer segmentation and channel of distribution. Some of its proposed mutual fund schemes would for the retail investors too, he indicated. Mr Shah felt that the current equity market uncertainty would go off by the end of second quarter of 2008-09. “Since we are looking at the long-term opportunities in the domestic market, the present tentative phase does not deter us from launching of the asset management company and new funds,” he added. —

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Edelweiss launches new funds

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