HDFC Mutual Fund launches NFOs of two Nifty 100 based index funds
Premium- The NFOs will open on February 11, 2022, and close on February 18, 2022.
HDFC Asset Management Company has announced the launch of twin new fund offers (NFOs) based on Nifty 100 index: HDFC NIFTY 100 Index Fund and HDFC NIFTY 100 Equal Weight Index Fund. The twin NFOs will invest in the largest companies in India that are part of the NIFTY 100 Index. While the NIFTY 100 Index gives weights based on free float market cap, the NIFTY100 Equal Weight Index gives equal weights to all constituents.
Both NFOs are aimed at investors who are looking for returns that are commensurate with the performance of NIFTY 100 Index and NIFTY100 Equal Weight Index respectively, subject to tracking errors, says the mutual fund house that manages assets worth ₹4.41 trillion.
The NFOs of HDFC NIFTY 100 Index Fund and HDFC NIFTY 100 Equal Weight Index Fund will open on February 11 and close on February 18. These NFOs provide an easy way to gain exposure to India’s large caps. Indian large caps (as represented by constituents of the NIFTY 100 Index) represent 68% of the Indian listed space by market cap as on December 31, 2021.
“Launch of these two NFOs is a part of our endeavour to expand our product bouquet in HDFC MF Index Solutions and allow customers easy access to India’s 100 largest companies. HDFC AMC has been one of the oldest players in index solutions with proven capability," said Navneet Munot, MD & CEO of HDFC AMC.
HDFC Asset Management Company Limited (HDFC AMC) is investment manager to HDFC Mutual Fund, one of the largest mutual funds in the country.
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