Samco Mutual Fund has announced the launch of the multi cap fund, an open-ended scheme investing across large cap, midcap and small cap stocks.

The new fund offer or NFO of the scheme will open for subscription on October 10 and will close on October 24.

The scheme will be benchmarked against NIFTY 500 MultiCap 50:25:25 Total Returns Index. The scheme will be managed by Paras Matalia and Umeshkumar Mehta, and Dhawal Ghanshyam Dhanani.

Around 10% of units can be redeemed without an exit load within 12 months of allotment. Any redemption in excess of such a limit in the first 12 months will incur 1% exit load. No exit load, if redeemed or switched out after 12 months from the date of allotment of unit.