HDFC Asset Management, the investment manager to HDFC Mutual Fund (HDFC MF), has announced the launch of three schemes – HDFC S&P BSE 500 Index Fund, HDFC NIFTY Midcap 150 Index Fund & HDFC NIFTY Smallcap 250 Index Fund.
The launch of these schemes will expand the suite of HDFC MF Index Solutions, and allow investors to participate in the India growth story in a diversified manner, HDFC Mutual Fund said on Wednesday.
It added that the respective indices offer diversified exposure to large, mid and smallcap segments, but with lower volatility than the vast majority of their underlying constituents.
The Index Funds tracking these respective indices offer a simple and efficient way to gain exposure to large, mid and smallcaps through a single instrument. Moreover, winners among largecap, midcap and smallcap indices change from year to year, and hence investors can get exposure to all 3 market cap segments through these Index Funds, the statement added.
The captioned NFO commenced on April 6, 2023 and will close on April 18, 2023.
Navneet Munot, managing director and chief executive officer, HDFC Asset Management, said, “With our ‘Investor first’ approach in mind, HDFC Mutual Fund continues to offer varied investment solutions to the investors. We are one of the pioneers in the passive funds space with over 20-years of experience. We are further expanding our product bouquet with the launch of these 3 new Index Funds. These funds will allow investors to participate in the India growth story while diversifying across market caps.”