Edelweiss Mutual Fund to launch third tranche

 Edelweiss Mutual Fund to launch third tranche of ‘BHARAT Bond ETF’ on 3^rd December 2021 

 

Highlights:

·         Edelweiss MF BHARAT Bond ETF will be launched with maturity date of 15^th April, 2032, and is aiming to raise Rs. 1,000 cr. as the base issue size with additional green shoe option

·         Edelweiss MF BHARAT Bond ETF AUM stood at Rs 36,359 Cr. in the end of October 2021

·         Post the launch of Edelweiss MF BHARAT Bond ETF in 2019, the total AUM for Passive Debt category is grown to around Rs. 50,000 cr. as on October 2021

·         Edelweiss MF BHARAT Bond ETF kicked-off the Passive Debt Category in India in December 2019. Since then, various other AMCs have launched 9 new schemes in this category, but Edelweiss has been successful in retaining its leadership position with 80% market share.

 

Edelweiss Asset Management today announced the launch of the third tranche of BHARAT Bond ETF starting from 3^rd December, after the successful launch of 4 ETFs in last 2 years. The BHARAT Bond ETF program is an initiative of the Government of India, from the Department of Investment and Public Asset Management and the latter has given the mandate to Edelweiss Mutual Fund to design, launch and manage the product.

 

This new BHARAT Bond ETF and BHARAT Bond Fund of Fund (FOF) series will mature on 15^th April 2032. NFO will start from 3^rd December 2021 and end on 9^th December 2021. Through the launch of this new series in third tranche, Edelweiss Mutual Fund proposes to raise an initial amount of Rs. 1,000 crores with an open green shoe option. 

 

Tuhin Kanta Pandey, Secretary, DIPAM, Ministry of Finance said, “BHARAT Bond ETF program has achieved some important objectives that were envisioned while creating the blueprint of this program. It has provided aggregate savings in borrowing cost for participating CPSEs/CPSUs/CPFIs. It has provided easy access to investors into bond markets, especially retail investors who are looking alternative to Fixed Deposit. Further, adequate Liquidity on the exchange is encouraging investor participation and helping in deepening the bond markets. BHARAT Bond ETF program has led to promising impact on the overall Debt Passives landscape in India with many other AMCs also launching similar target maturity ETFs and Index Funds in the recent times. The organic increase in AUM of existing BHARAT Bond ETFs in the last 2 years resembles investor’s confidence in the product and we are very happy with its overall impact on the market.”

 

Radhika Gupta, CEO, Edelweiss Mutual Fund said, “We are excited to see the growth of Passive Debt category in India, post the launch of Edelweiss MF Bharat Bond ETFs. Around 20 new passive debt funds have been filed and 9 passive debt funds have been already launched by different AMCs post the launch of BHARAT Bond ETF in Dec 2019. The total AUM of this category has reached around Rs. 50,000 cr. as on October 2021 and Edelweiss AMC is a leader in this space with more than 80% market share. With this new launch of BHARAT Bond ETF, we now have five maturities on the yield curve – 2023, 2025, 2030, 2031 and 2032 which will help investors to choose the right maturity according to their needs. We are happy to see a healthy demand from investors for these ETFs in the current environment where safety is paramount.”

 

The ETF will invest in constituents of the NIFTY BHARAT Bond Indices, consisting of AAA rated public sector companies. BHARAT Bond Fund of Funds (FOF) with similar maturities will also be launched for investors, who do not have Demat accounts. The BHARAT Bond ETF AUM stood at Rs 36,359 Cr. in the end of October 2021.

Retail focused housing finance company, Aptus Value Housing Finance India Limited

 Retail focused housing finance company, Aptus Value Housing Finance India Limited raises Rs. 834 Crs from 21 Anchor Investors

Aptus Value Housing Finance India Limited (“Company”), one of the largest housing finance companies in South India in terms of asset under management and having the largest branch network in South India among the peer set, as of March 31, 2021 (Source: CRISIL Report), has raised Rs. 834 crs from 21 anchor investors. The company informed the bourses that it has allocated 2,36,26,500 shares at Rs. 353 per share on Monday, August 9, 2021 to anchor investors.

12 Foreign Portfolio Investors were allocated a total of 20,115,942 shares for approximately Rs. 710.1 crs. These included Capital Research, Genesis, Neuberger Berman, Nomura, Universities Superannuation Scheme (USS), Steadview, Ward Ferry, and Aberdeen.

 

9 domestic investors (including 3 Mutual Funds, 5 AIFs and 1 Life Insurance company) were allocated a total of 35,10,558 shares for approximately Rs.123.9 cr. These included Axis Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, IIFL Group and Premji.

 

Aptus Value Housing Finance Limited is one of the largest housing finance companies in south India in terms of AUM. The company offers home loans for purchase and self-construction of residential property, home improvement, extension loans, and small business loans, primarily to first time home buyers belonging to the low and middle income groups. As of 31^st March 2021, the company has a network of 190 branches catering to 58,069 active live accounts in Tamil Nadu (including the Union Territory of Puducherry), Andhra Pradesh, Karnataka, and Telangana.

ICICI Securities Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited and Kotak Mahindra Capital Company Limited are the BRLMs to the Offer.

IPO Details

The Offer comprises of a fresh issuance of Equity Shares, aggregating up to Rs.5000 million and an offer for sale of Equity Shares aggregating up to 64,590,695 Equity Shares by the Selling Shareholders. The Net Proceeds from the Offer will be utilized towards augmenting the Company’s tier 1 capital requirements. The price band for the Offer is at Rs. 346 – Rs. 353 per Equity Share of face value Rs.2 each.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

Edelweiss General Insurance partners with

 Edelweiss General Insurance partners with InterMiles to
introduce Free Cancellation Travel Insurance

J  Book worry-free, No airline cancellation charge applicable in case of change in travel plans

J  Insurance cover applicable for non-refundable flights as well

J  100% paperless process - End to end digital journey for customers, from buying to claims settlement on the platform

J  Policy valid for Indian Nationals in the age group of 1 day to 70 years old

In its endeavour to add meaningful value to customers, Edelweiss General Insurance (EGI), India’s first cloud-native and one of the fastest growing insurers, has launched Edelweiss Group Domestic Travel Insurance in partnership with InterMiles, a leading travel and lifestyle rewards programme. This product is a free cancellation air travel policy, that takes care of all cancellation concerns customers may have, thus allowing them to be stress free in a volatile environment, where travel plans may keep shifting.

Customers, booking tickets on InterMiles, for travel anywhere in India, can opt for Zero Cancellation, by paying a nominal amount, at the time of booking. The Edelweiss Free Cancellation policy is a full proof cover for travellers, since it covers most of the reasons that lead to ticket cancellation. This policy will allow customers to cancel their flights up to 24 hours before departure in case they are unable to fly due to unavoidable circumstances. Claims will be settled digitally, as per the insurance policy. Free Cancellation allows InterMiles members to get a full refund on airline cancellation penalty and offers complete flexibility to book flight tickets. Members can add the free cancellation policy to their booking regardless of them using cash or Miles to purchase the ticket.

Commenting on the launch, Shanai Ghosh, ED & CEO, Edelweiss General Insurance, said, “Our travel plans sometimes change due to circumstances not under our control and it can end up costing us quite a bit. This hurts especially in current times where people are looking to save all they can. We are excited to partner with InterMiles to help customers plan their travel without any stress. We have integrated our platforms to offer a seamless experience to the customer, especially for claims which is also completely digital. We are consistently looking for opportunities to provide innovative and simple digital solutions to the customers to protect their Health, Lifestyle and other prized possessions.”

Manish Dureja, CEO, InterMiles, said “At InterMiles, our members have always been at the heart of everything we do. Our recent studies and surveys have indicated growing, positive travel sentiment amongst Indians who are craving to break away from mundane daily routines or even just take advantage of a change in scenery offered by the existing work-from-anywhere situation. However, with a constant finger on our members' pulse, we do understand that there are underlying apprehensions when it comes to making and booking travel plans in today’s dynamic, ever-evolving scenario. Our free cancellation product powered by our platform in partnership with Edelweiss has been introduced to reassure our members and help make their travel decisions smoother and easier. This product will give members a full refund of the airline cancellation fee in case their travel plans change thus, empowering them to book worry-free.” 

In the business of loyalty, customer experience is top priority. Displaying agility in business and communication strategies, InterMiles is constantly reinventing to keep up with evolving times, while simultaneously ensuring that every engagement members have with the platform is fulfilling and rewarding.

Visit us: www.edelweissinsurance.com

Social handles@EdelweissGI  |   EdelweissGeneralInsurance  | Linkedin.com/company/edelweiss-general-insurance/

 

Edelweiss Mutual Fund Launches Edelweiss Nifty PSU

 Edelweiss Mutual Fund Launches Edelweiss NIFTY PSU Bond Plus SDL Index Fund – 2026 NFO on March 10, 2021

 

 Key Highlights of the Edelweiss NIFTY PSU Bond Plus SDL Index Fund - 2026:

§  India’s first target-maturity, debt-index fund 

§  Will invest in State Development Loans (SDLs) plus PSU bonds

§  Bond-like structure with fixed maturity - stability and visibility in returns

§  Passively managed Index Fund will keep costs low

§  Lower taxation due to indexation benefit

§  After successful launch of BHARAT Bond ETF along with Government of India, Edelweiss AMC now launches a unique Index Fund different from BHARAT Bond ETF investing in State Development Loans (SDLs) plus PSU bonds*

Edelweiss Asset Management Company Limited, one of India’s fastest growing AMCs, announced the launch of Edelweiss NIFTY PSU Bond Plus SDL Index Fund - 2026 today. Passively managed, this first of its kind index fund will invest in AAA rated PSU Bonds as well as State Development Loans (SDL).

With an investment amount that is as low as INR 5,000/-, the fund will have a defined maturity date of April 30, 2026. At maturity, investors will get back their investment proceeds. The fund will aim to hold the bonds till maturity in order to provide stability and visibility of returns to investors. Taxed at 20% post indexation, this fund will be more tax efficient as compared to traditional avenues.

 “Post the success we’ve seen with corporate bond ETFs with the launch of Bharat Bond last year, it is heartening to now see a significant rise in popularity of target maturity debt funds among investors. Yields have risen in last couple of weeks and this is a good time to invest in a target maturity fund and lock-in investments at higher yields. This index fund can give a fair amount of visible and tax efficient returns, along with higher safety and transparency at a low cost. With the financialization of savings taking centre stage, such solutions will build more investor confidence in debt mutual funds. We are committed to launch more such innovative yet simple solutions for our investors,” commented Radhika Gupta, CEO, Edelweiss Mutual Fund.

 This is a first ever, open-ended, Target Maturity Index Fund that will predominantly invest in the constituents of NIFTY PSU Bond Plus SDL 50:50 Index. Proportion of investments of AAA PSU Bonds and SDLs will be equally divided with a weightage of 50% each. Exposure to any single company’s bonds or loans would be capped at 15% of the corpus. Subsequently, there will be a quarterly rebalancing and review of the index constituents.

 The Edelweiss NIFTY PSU Bond Plus SDL Index Fund – 2026 NFO will be open for subscription between March 10 to March 16, 2021.

Edelweiss Mutual Fund’s ‘BHARAT Bond’

Edelweiss Mutual Fund’s ‘BHARAT Bond’ Tranche II

oversubscribed 3.7 times

                      

Highlights:

• BHARAT Bond Tranche II NFO received bids/applications worth around Rs. 11,000 Crores oversubscribed by more than 3.7 times against the base issue size of Rs. 3,000 crores
• Overwhelming response in both 5 & 11 years category, both have been oversubscribed
• Strong investor participation with around 40,000 applications received

Edelweiss Asset Management limited, a Group company of Edelweiss today announced that the Bharat Bond NFO Tranche II has seen resounding success, receiving applications amounting to Rs. 10,992 crores.

The initial NFO issue size of Rs. 15,000 crores (base issue size of INR 3,000 crores with a green shoe option of INR 12,000 crores) was oversubscribed by over 3.7 times. The 2025 maturity date category received applications for Rs. 4,531 crores, an oversubscription of 2.3 times and the 2031 Maturity category received applications for Rs. 6,461 crores an oversubscription of 6.5 times. All the subscription will be retained in both the categories, to accommodate the overwhelming demand Green shoe option in 2031 maturity is being increased from Rs. 5,000 crores to Rs. 6,000 crores. With approximately 40,000 applications received and considering Covid-19 restrictions on accepting physical applications, Edelweiss Mutual Fund’s Bharat Bond NFO witnessed wide retail participation with strong support from digital channels.

Tuhin Kanta Pandey, Secretary DIPAM, Ministry of Finance said, “The overwhelming response and over-subscription of the BHARAT Bond ETF tranche II issue shows that the product is well accepted and there is enough demand from investors for CPSE Bonds. The wide participation from investors during current environment is very encouraging. This has helped participating CPSEs in raising long term resources that will aid their capex plans in the current financial year.”

Radhika Gupta, MD & CEO, Edelweiss Mutual Fund said, “We are very happy with the strong raise BHARAT Bond ETF NFO has seen, more importantly wide participation from various sets of investors despite challenging times. This gives us confidence to keep building BHARAT Bond ETF program and launch more ETFs in coming time with various maturities across the yield curve. In just six months, BHARAT Bond ETF program now manages significant amount across four ETFs launched in last six months. Over Rs. 15,000 cr worth assets are in the 10 years segment which helps in building long term investing culture amongst investors in debt funds.”

The ETF will invest in constituents of the NIFTY BHARAT Bond Indices, consisting of AAA rated public sector companies. BHARAT Bond Fund of Funds (FOF) with similar maturities were also launched for investors, who did not have demat accounts. The BHARAT Bond ETF program aims to achieve its ultimate objective of creating a liquid yield curve for CPSE bonds and helps further agenda of development of bond markets. Eventually, BHARAT Bond ETF program will keep growing further and will provide a safe and secure investment avenue for investors across maturities and provide an easy and alternate method for CPSEs to raise funds.

*Information is subject to complete realisation of cheques.

About Edelweiss Asset Management Limited (EAML)

EAML is a part of the Investment & Advisory business of Edelweiss Group. EMAL remains one of the fastest growing and youngest AMCs in India, with an AUM of 24,471 crores. It offers a robust platform to a diversified client base across domestic and global geographies.

The Mutual Fund product suite of the company encompass the entire risk return spectrum and is designed to offer the best opportunity for investment growth in Indian & global asset classes. EAML also provides world class knowledge platforms for its partners and investors to keep them updated. The company provides the best digital experience to investors and partners through continuous innovation and cutting-edge technology. For more information please visit: www.edelweissmf.com

Edelweiss AMC Social media handle: - @EdelweissAMC

Statutory Disclaimer: MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.

Edelweiss Mutual Fund to launch second tranche of

Edelweiss Mutual Fund to launch second tranche of ‘BHARAT Bond ETF’

Highlights:

·         Two new series of BHARAT Bond ETF to be launched in July 2020

·         ETF to have two maturities – April 2025 and April 2031

·         Base issue size of Rs. 3,000 crores, with a green shoe option of Rs. 11,000 crores

·         ETF will track Nifty BHARAT Bond Target Maturity Indices

Edelweiss Asset Management today announced the launch of the second tranche of BHARAT Bond ETF in July, with two new series, after the successful launch of the initial series of ETFs in December 2019.  The BHARAT Bond ETF program is an initiative of the Government of India, from the Department of Investment and Public Asset Management and the latter has given the mandate to Edelweiss AMC to design and manage the product.

The two new Bharat Bond ETF series will have maturities of April 2025 and April 2031. Through the launch of these two new ETF series, Edelweiss Mutual Fund proposes to raise an initial amount of Rs. 3,000 crores with a green shoe option of Rs. 11,000 crores based on market demand. The ETF will invest in constituents of the NIFTY BHARAT Bond Indices, consisting of AAA rated public sector companies. BHARAT Bond Funds of Funds (FOF) with similar maturities will also be launched for investors, who do not have demat accounts.

Radhika Gupta, CEO, Edelweiss Mutual Fund said, ‘’After an overwhelming response to the first tranche of BHARAT Bond ETF in December last year, we are excited to announce this next tranche of two new maturity series. The launch is in line with our vision to create a ladder of BHARAT Bond ETFs across various maturities on the yield curve. This will provide more options for investors to match their investment needs with different time horizons.’’

She added ‘’In the current environment, investors need safe, liquid, and tax efficient options for their debt investments, and BHARAT Bond ETF meets this need effectively. We are happy that investors in the first series of BHARAT Bond ETF have had a good experience and the AUM of these series has also increased organically after the launch.”

The first launch of BHARAT Bond ETF had successfully raised over Rs. 12,400 crores, from a diverse set of investors. Further, after the NFO, the BHARAT Bond ETF program continued to see healthy investor participation and good liquidity on the exchanges. The Bid-Ask spread (the difference between the buy and sell quotes) has stayed in a narrow range of 5 to 10 Bps and the daily average traded value in these ETFs has been between Rs. 3 to 3.5 crores, making it one of the more liquid ETFs in India.