Edelweiss Mutual Fund has launched Edelweiss BSE Capital Markets & Insurance ETF, an open-ended exchange traded scheme replicating/tracking BSE Capital Markets & Insurance Total Return Index.

The new fund offer or NFO of the scheme is open for subscription and will close on December 24. The scheme will reopen for continuous sale and repurchase on January 8.

This innovative, open-ended exchange-traded scheme is designed to replicate and track the BSE Capital Markets & Insurance Total Return Index. The ETF, the first of its kind in India, aims to capitalise on the mega trend of investing and wealth creation combined with the insurance sector, according to a press release by the fund house.