Essel Mutual Fund, a part of leading private sector financial services firm Essel Finance, will be launching four to five new funds in the market in the upcoming financial year. The mutual fund company, which currently has close to Rs 2,000 crore in assets under management (AUM), is awaiting approval from the market regulator Securities and Exchange Board of India (Sebi) for its first offering 'Essel Equity Hybrid Fund' and plans to launch it in April 2018. Rajiv Shastri, chief executive officer, Essel Finance AMC Ltd, told DNA Money, "Essel Equity Hybrid Fund, when it gets approved by Sebi, proposes to invest 65% in equity and equity-related instruments. We are adding more distributors on a monthly basis and growing it even further before we launch the products." Given the nature of the product, Essel Mutual Fund is expecting good retail investor participation from across the country.

Source: dna March 09, 2018 00:54 UTC