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HDFC Mutual Fund (MF) has launched the HDFC Developed World Indexes Fund of Funds (HMWIFOF), an open-ended fund of funds scheme investing in units/shares of overseas Index Funds and/or ETFs which will in aggregate track the MSCI World Index. The NFO opens for subscription on September 14, 2021, and closes on September 28, 2021. The Entry load is not applicable for the scheme. The Exit Load of 1.00% is payable, if units are redeemed/switched-out within 30 days from the date of allotment of units and there will no Exit Load, if units are redeemed/switched-out after 30 days from the date of allotment. The minimum subscription amount is Rs 5,000 and any amount thereafter.

The performance of the Scheme would be benchmarked against MSCI World Index (Net Total Return Index) and its fund manager is Krishan Kumar Daga.

The investment objective of the Scheme is to provide long-term capital appreciation by passively investing in units/shares of overseas Index Funds and/or ETFs which will in aggregate closely correspond to the MSCI World Index, subject to tracking errors.