Edelweiss Mutual Fund has launched Edelweiss Nifty500 Multicap Momentum Quality 50 Index Fund, an open-ended index scheme replicating Nifty500 Multicap Momentum Quality 50 Index.

The new fund offer or NFO of the scheme is open for subscription and will close on October 25. The scheme will reopen for continuous sale and repurchase on or before November 11.

The investment objective of the scheme is to provide returns before expenses that correspond to the total returns of the Nifty500 Multicap Momentum Quality 50 Index Fund, subject to tracking errors.