HDFC Mutual Fund launches HDFC NIFTY200 Momentum 30 Index Fund: Check details

HDFC Asset Management Co. Ltd., the investment manager to HDFC Mutual Fund (HDFC MF), has announced the launch of the HDFC NIFTY200 Momentum 30 Index Fund. The captioned New Fund Offer (NFO) has opened on February 9, and will close on February 23, 2024.

HDFC NIFTY200 Momentum 30 Index Fund: Details

NFO Opens: February 9, 2024 

NFO Closes: February 23, 2024

The HDFC NIFTY200 Momentum 30 Index Fund is an open-ended scheme that aims to replicate the NIFTY200 Momentum 30 Index, while allowing investors to participate in the growth potential of Momentum stocks. 

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 betterreturns over time.

Commenting on the launch, 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.”
 
(Disclaimer: Investors should consult their financial advisers, before making any investment decision.)