Edelweiss Asset Management in partnership with MSCI Inc will launch a thematic passive index fund that will invest in top healthcare companies in India and across the globe.

The new fund offer of Edelweiss MSCI India Domestic and World Healthcare 45 Index Fund will be open for subscription between October 6 and 20. The fund will be benchmarked against the MSCI India Domestic & World Healthcare 45 Index.

The fund will give 70 per cent weightage to Indian Healthcare comprising top 25 stocks based on full market cap and the remaining will be invested in 20 stocks listed in the US. A few of the top holdings of the underlying fund include Apollo Hospitals, Cipla, Dr Reddy’s Laboratories, Jubilant Life science, Biocon Ltd., and Pfizer.

Radhika Gupta, Managing Director, Edelweiss Asset Management said given the rise in lifestyle diseases and the uptick in spending to treat them, the healthcare sector is primed to grow steadily over the next decade.

BIRLA MF NFO

Aditya Birla Sun Life AMC has launched a Special Opportunities Fund, an open-ended equity scheme. The NFO closes on October 19. It will investment in companies that successfully navigate and thrive through economic challenges and exceptional market situation.

A Balasubramanian, Managing Director, Aditya Birla Sun Life AMC, said the market is already in a special situation due to the current unprecedented time and it is the right time to benefit from new emerging trends. Existing businesses are adapting to new normal and a big consolidation in many industries are underway, he said. The portfolio, which will be sector and market cap agnostic, will invest up to 25 per cent of the corpus in international opportunities pertaining to special situations. The minimum amount is ₹500 during the NFO.

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