Excelsior Correspondent
MUMBAI, Feb 14: HDFC Asset Management Company, one of India’s leading mutual fund houses that manages assets worth INR 4.41 trillion, has announced the launch of twin New Fund Offers (NFOs), namely HDFC NIFTY 100 Index Fund and HDFC NIFTY100 Equal Weight Index Fund.
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.
The captioned NFOs are open from February 11, 2022 and will close on February 18, 2022. 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 percent of the Indian listed space by market cap as on December 31, 2021.
Commenting on the launch of these two NFOs, Navneet Munot, MD & CEO, HDFC AMC said: “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.”
HDFC AMC has an experience of managing index funds for 19+ years with existing index solutions having one of the lowest tracking errors in the industry. The twin NFOs provide strategies to 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.
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