HDFC Mutual Fund launches HDFC NIFTY200 Momentum 30 Index Fund. HDFC Asset Management Co. Ltd., investment manager to HDFC Mutual Fund (HDFC MF), one of India’s leading mutual fund houses announces the launch of the HDFC NIFTY200 Momentum 30 Index Fund. The captioned NFO opens on Feb 9th and closes on Feb 23rd 2024.
The HDFC NIFTY200 Momentum 30 Index Fund allows investors to participate in the growth potential of Momentum stocks. It is an open-ended scheme that aims to replicate the NIFTY200 Momentum 30 Index. The NIFTY200 Momentum 30 Index selects top 30 stocks from the NIFTY 200 based on their Normalized Momentum Score. The index offers potential exposure to both largecap and midcap stocks through a single product, as its parent index is the NIFTY 200 Index. The fund adapts dynamically to changing market conditions, ensuring responsiveness to evolving trends. Historical data demonstrates the index’s ability to outperform traditional market indices, hence investors seeking long-term growth opportunities could consider this as an option. With lower expense ratio and a focus on capturing market momentum, HDFC NIFTY200 Momentum 30 Index Fund is an investment option for investors looking to capitalize on prevailing market trends and secure potentially better returns over time.
Commenting on the launch, Mr. Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Company, stated, “At HDFC Mutual Fund, our mission to be the wealth creator for every Indian continues to drive us to offer best in class investment solutions to our investors. We remain committed to delivering excellence in Index Solutions, leveraging our 20+ years of expertise in this space. We are excited to introduce the HDFC NIFTY200 Momentum 30 Index Fund, allowing investors to participate in the growth potential of Momentum stocks.”