Investment Manager to the schemes of HDFC Mutual Fund, HDFC Asset Management Company Limited launched New Fund Offer (NFO) – HDFC NIFTY50 Equal Weight Index Fund. The NFO will open on August 4 and will close on August 13. The Fund will re-open for continuous sale and repurchase within 5 business days from the date of allotment of units under NFO. HDFC NIFTY50 Equal Weight Index Fund will aim to track the performance of constituents forming part of the parent index, the NIFTY 50 Index, where each company in the index shall be assigned equal weights as per the under lying index. HDFC NIFTY50 Equal Weight Index Fund will offer exposure to Top 50 large companies on the NSE with equal weight to each stock. The equal weight aims to reduce risk of stock/ sectoral concentration. HDFC NIFTY50 Equal Weight Index Fund is suitable for investors looking for a simple yet smart way of investing in Top 50 companies. NIFTY50 Equal Weight Index offers disciplined investment approach with no bias where each stock contributes equally for the overall index growth.
