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HDFC Mutual Fund (MF) has launched HDFC Nifty 1D Rate Liquid ETF, an open-ended Exchange Traded Fund replicating/tracking NIFTY 1D Rate Index with Relatively Low Interest Rate Risk and Relatively Low Credit Risk. The NFO opens for subscription on August 18, 2023 and closes on August 23, 2023. The Entry load and Exit load is nil for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.

The performance of the Scheme will be benchmarked with NIFTY 1D Rate Index (TRI) and its fund manager is Vikash Agarwal.

The investment objective of the Scheme is to invest in Tri-Party Repos in Government Securities or Treasury Bills (TREPS) and to provide investment returns that, before expenses, correspond to the returns of the NIFTY 1D Rate Index, subject to tracking errors.