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DSP MF has launched DSP BSE Sensex Next 30 Index Fund and DSP BSE Sensex Next 30 ETF. Both the funds are open-ended schemes, which will invest in top 30 large cap companies which are not part of BSE Sensex.
BSE Sensex Next 30 index will be the underlying benchmark for both index fund and ETF.
In a press release, the fund house said that this segment includes some of the fastest growing large cap leaders and challengers but is often under-represented in most existing large cap indices with an allocation of just 10-40%. The benchmark includes companies from various sectors including financial services, consumer discretionary, commodity, energy, healthcare, FMCG and industrials.
Anil Ghelani, Head - Passive Investments & Products, DSP MF said, “Currently, the large cap segment seems to be better placed in terms of risk versus reward and our new fund offers exposure to a differentiated pocket within this segment. Companies part of BSE Sensex Next 30 Index have historically been strong wealth creators, with 20 stocks graduating up to become part of the BSE Sensex in the last decade. Given its low overlap with other major large cap indices, this fund is suitable for all investors with a long-term investment horizon including those who have already invested in other large cap index funds and now want to have a little different exposure.”
