May 23, 2022 07:30 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
50-year-old woman, her two daughters commit suicide in Delhi flat, leave chilling suicide note warning of 'deadly gas' | India registers 2,226 new Covid-19 cases in last 24 hours | 'This is something that is unmatchable': PM Modi interacts with badminton champions | 4 dead, massive blackouts as severe storms hit eastern Canadian provinces | Imran Khan lauds India for 'sustaining US pressure' over fuel price cut
HDFC Mutual Fund announces New Fund Offer HDFC New Fund

HDFC Mutual Fund announces New Fund Offer

India Blooms News Service | @indiablooms | 20 Oct 2021, 08:45 pm

New Delhi: HDFC Asset Management Company, one of India’s leading mutual fund houses with ₹ 4.35 trillion in assets under management has announced launch of New Fund Offer – HDFC NIFTY Next 50 Index Fund, for investors looking for returns that are commensurate with the performance of NIFTY Next 50 Index, subject to tracking error.

NIFTY Next 50 Index represents 50 companies from NIFTY 100 after excluding the constituents of NIFTY 50 Index.

HDFC NIFTY Next 50 Fund is suitable for investors looking for simple yet cost effective way of investing in ‘Next Top 50’ companies on the listed universe of NSE.

HDFC AMC has an experience of 19 years and is one of the oldest in the industry in managing passive funds.

It is also a leading investment manager (in terms of AUM) in the index fund category.

HDFC NIFTY Next 50 Index Fund is an open-ended scheme replicating/ tracking NIFTY Next 50 Index (TRI). The NIFTY Next 50 Index is more diversified with top 3 sectors’ weight pegged at 58% as compared to 67% for NIFTY 50, and thereby may offer better risk adjusted returns in long term.

The Fund will be managed passively and the investment universe of the fund will be the constituents of NIFTY Next 50 Index. The new fund offer (NFO) will open on October 22, 2021, and will close on Oct 29, 2021.

Commenting on HDFC NIFTY Next 50 Index Fund, Krishan Kumar Daga, Senior Fund Manager, HDFC AMC said, “HDFC NIFTY Next 50 Index Fund offers exposure to diversified portfolio at sector/ stock level. NIFTY Next 50 Index has favourable risk-reward ratio as compared to NIFTY 50 Index. NIFTY Next 50 has outperformed NIFTY 50 Index over 19 year period ended September 30, 2021. Out of 75 stocks that were included in NIFTY 50 index during January 2002 – March 2021, about 51 stocks were from NIFTY Next 50 Index. Thus the Fund offers investors an opportunity to invest in basket of tomorrow’s potential NIFTY 50 Companies.”

Further Navneet Munot, MD & CEO, HDFC AMC said, “Launch of HDFC NIFTY Next 50 Index Fund is a part of our endeavor to expand our product bouquet in the passive space. HDFC AMC has been one of the oldest players in the passive strategies with proven capability.”


Related Images
FOHMA addresses press conference 01 Jan 1970, 05:30 am
Related Videos
PM Modi on Union Budget 2022-2023 01 Feb 2022, 06:28 pm
IBNS Live Business Chat 30 Dec 2021, 05:53 pm