HDFC Mutual Fund launches HDFC NIFTY100 Low Volatility 30 Index Fund
HDFC Mutual Fund has launched HDFC NIFTY100 Low Volatility 30 Index Fund, a passively managed fund that aims to track the NIFTY100 Low Volatility 30 Total Returns Index.
The new fund offering or NFO is open for subscription and will close on July 5. The scheme will re-open for continuous sale and repurchase within five business days from the date of allotment of units under NFO.
The investment objective of the scheme is to generate returns that are commensurate (before fees and expenses) with the performance of the NIFTY100 Low Volatility 30 Index (TRI), subject to tracking error.
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The scheme will be benchmarked against NIFTY100 Low Volatility 30 Index (TRI). The minimum investment amount is Rs 100 and any amount thereafter.
The scheme will offer regular and direct plans with growth option only.The exit load is nil.
The scheme will invest 95-100% in securities covered by NIFTY100 Low Volatility 30 Index (TRI) and 0-5% in debt securities and money market instruments, units of debt schemes of mutual funds.
The scheme offers investors a low-cost vehicle to gain exposure to India's large-cap companies with potentially lower volatility and could be an opportunity for potential long-term wealth creation.
The fund will be managed by Nirman Morakhia and Arun Agarwal. Allotment of units will be done after deduction of applicable stamp duty and transaction charges, if any.
«At HDFC Mutual Fund, our mission to be the
