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HDFC Mutual Fund files offer document for NV 20 ETF
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HDFC Mutual Fund has filed offer document with SEBI to launch an open ended scheme named ‘HDFC NV 20 ETF’. The New Fund Offer price is 1/100th of the value of NIFTY50 Value 20 Index on the date of allotment of units under the NFO. Entry load and Exit load will be nil. The scheme does not offer any Plans/Options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked by NIFTY100 Index (TRI). The minimum application amount is Rs 5000 and Re 1 thereafter.
The investment objective of the scheme is to provide investment returns that, before expenses, closely correspond to the total returns of the Securities as represented by the NIFTY50 Value 20 Index, subject to tracking errors.
