HDFC MF introduces NIFTY50 Equal Weight Index Fund

HDFC Mutual Fund (MF) has launched the HDFC NIFTY50 Equal Weight Index Fund, an open-ended scheme replicating/tracking NIFTY50 Equal Weight Index [TRI]. The NFO opens for subscription on August 04, 2021, and closes on August 13, 2021. The Entry load and Exit load is not applicable for the scheme. The minimum subscription amount is Rs 5000 and any amount thereafter.

The performance of the Scheme will be benchmarked to NIFTY50 Equal Weight Total Returns Index (TRI) and its fund manager is Krishan Kumar Daga.

The investment objective of the scheme is to generate returns that are commensurate (before fees and expenses) with the performance of the NIFTY50 Equal Weight Index TRI (Underlying Index), subject to tracking error.