HDFC Asset Management Co. Ltd (AMC), investment manager to HDFC Mutual Fund (HDFC MF) recently announced the launch of three new exchange traded fund (ETF) schemes – HDFC S&P BSE 500 ETF, HDFC NIFTY Midcap 150 ETF & HDFC NIFTY Smallcap 250 ETF.
“The respective indices offer diversified exposure to large, mid and smallcap segments, but with lower volatility than the vast majority of their underlying constituents. Thus, the ETFs tracking these respective indices offer a simple and efficient way to gain exposure to large, mid and smallcaps. 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 ETFs,” the mutual fund house said.
The captioned new fund offer (NFO) commenced on January 30, 2023 and will close on February 13, 2023. Open-ended schemes replicating/tracking the S&P BSE 500 Index, NIFTY Midcap 150 Index & NIFTY Smallcap 250 Index respectively.
Commenting on the launch, Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Co. Ltd. said, “With our ‘Investor first’ approach in mind, HDFC Mutual Fund endeavours to offer best in class investment solutions to the investors. We are one of the pioneers of the Index Solutions space, with over 20+ years of experience managing passive funds and 12+ years of managing ETFs. The launch of these 3 new ETFs will allow investors to participate in the India growth story while diversifying across market caps.”
HDFC Asset Management Company Limited (HDFC AMC) is an Investment Manager to HDFC Mutual Fund, one of the largest mutual funds in the country. It was incorporated under the Companies Act, 1956, on 10th December 1999 and was approved to act as an Asset Management Company for HDFC Mutual Fund by SEBI on 3rd July 2000.