NFO Launch: These Two Nifty 100 Index Fund Recently Launched; Check Details

The number of fund houses or AMCs (Asset Management Companies) has expanded in India as the popularity of mutual funds has grown. Many AMCs have launched many NFOs throughout the nation in recent years. The goal of an NFO is to build up enough initial corpus so that the fund manager of a mutual fund scheme may develop a portfolio based on the scheme's investment goals. Nifty 100 Index fund was recently launched by two large AMUs, adding to the list of 2022 NFOs.

HDFC Nifty 100 Index Fund Direct-Growth

HDFC Mutual Fund has announced the launch of New Fund Offer (NFO)- HDFC NIFTY 100 Index Fund. The NFO will open for subscription on February 11 2022 and close on February 18, 2022. The fund manager is Krishan Kumar. Krishan Kumar, before joining the HDFC AMC, worked at Reliance Mutual Fund, Reliance Capital Ltd., Deutsche Securities, B&K Securities, Brics Securities, JP Morgan Securities, and HSBC Securities.

HDFC Nifty 100 Index Fund Direct-Growth gives weights based on free-float market cap. According to the fund house, the NFO is aimed at investors who are looking for returns that are commensurate with the performance of the NIFTY 100 Index. Indian large caps (as represented by constituents of the NIFTY 100 Index) represent 68% of the Indian listed space by market cap as of December 31, 2021. Fund's other details are yet to come as the fund launched yesterday.

The scheme aims to match the performance of the NIFTY 100 Index TRI (Underlying Index) in terms of returns (before fees and expenses), subject to tracking error.

NFO Details

IDFC Nfty 100 Index Fund Direct- Growth

The IDFC Mutual fund has recently launched the IDFC Nifty 100 Index Fund Direct-Growth fund. The issue open date for the Fund is February 7, 2022, and the issue closing date is February 18, 2022. Mr Nemish Sheth is the fund manager. He formerly worked for Nippon Life India Asset Management Ltd. and ICICI Prudential Asset Management Company Ltd. before joining IDFC AMC.

During the initial subscription period of the NFO, the fund's NAV will stay at Rs. 10. Following this period, the fund's units will be allocated on February 24, 2022. Also, because it is an open-ended plan, it will be open for new subscriptions on February 25, 2022, at the current NAV.

The fund will invest in assets that correspond to the Nifty 100 Index, which reflects the Indian equities big-cap universe, in the same proportion as the Index. Financial services, information technology, oil and gas, and consumer products are all included in the investment mix.

NFO Details