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IDFC Mutual Fund has launched IDFC Nifty200 Momentum 30 Index Fund, an open-ended index scheme that comprises 30 high momentum large and mid-cap stocks replicating the Nifty200 Momentum 30 Index.
In a press release, Vishal Kapoor, CEO, IDFC MF said “Momentum investing has proven to be a highly rewarding factor strategy over the last several years. It has also outperformed the broader indices, for instance, the Nifty200 Momentum 30 Index has outperformed the Nifty 100, and Nifty 200 indices in 8 out of the last 10 calendar years. It follows a structured, quantitative-led process of buying securities when their price is rising and importantly, selling them when prices appear to have peaked. Historically, returns per unit of risk for the momentum index have been higher than broader indices.”
The NFO of the scheme opens on August 19 and closes on August 26.
