Listen to this article
HDFC MF has launched a factor fund HDFC NIFTY200 Momentum 30 Index Fund, an open-ended scheme that aims to replicate the NIFTY200 Momentum 30 Index.
The fund aims to invest in the top 30 stocks selected from the NIFTY200 based on their momentum score. In this approach, stocks are purchased when their prices are rising. It is based on the belief that the upward price momentum will continue, allowing the stocks to be sold at a higher price than purchased.
In a press release, Navneet Munot, MD and CEO, HDFC Asset Management Company said: “We are excited to introduce the HDFC NIFTY200 Momentum 30 Index Fund, allowing investors to participate in the growth potential of momentum stocks.”
