Mutual Fund: Make money from the new scheme, today is the last day, know the details


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Mutual Fund NFO : Just like when a company comes to the stock market, it first comes with an IPO. The company is then listed on the stock exchanges. After that its shares are traded in the normal way. Similarly, when a mutual fund comes out with a new scheme, it first comes with a New Fund Offer (NFO). Like now HDFC Mutual Fund had introduced two NFOs. Today is the last day to invest in both these NFOs. Know further the details of these two NFOs.

what are the schemes
HDFC Mutual Fund has launched two sectoral exchange-traded funds (ETFs). These are HDFC Nifty IT ETF and HDFC Nifty Private Bank ETF. Both these new fund offers (NFOs) are open from October 28, while they will remain open till November 9, ie today is their last day. The minimum investment (subscription) amount in these schemes is Rs 500. Explain that the ETF units will be allotted in “complete figures” (such as 20, 30 etc.) and the rest will be returned to the investors. There will be no lock-in period in ETFs.

HDFC Nifty IT ETF
A fund manager on Nifty IT ETF said that India’s IT industry is more service oriented than product oriented like in the western world. Therefore, he believes that Indian IT companies will not be affected much as compared to their similar global companies. He believes that Indian IT companies are investing heavily to enhance the skills of their employees in a fast-growing industry. For example, Tata Consultancy Services (TCS) spent an average of 121 hours on training 171,000 employees in FY 2021-22.

Mutual Fund: Make money from the new scheme, today is the last day

Risks of Nifty IT ETF
The fund house noted that the risk appetite of the Nifty IT ETF is higher due to its “inherent nature”. But when the basic principal of the IT index is taken into account, “the sector is more efficient than the broader Nifty 50.

HDFC Nifty Private Bank ETF
On the rationale behind launching the Nifty Private Bank ETF, HDFC AMC has said that private banks continue to increase market share in loans and deposits, and have higher profitability than the overall banking sector. In addition, private banks have better asset quality, higher capital adequacy and higher efficiency than the overall banking sector.

Mutual Fund: Make money from the new scheme, today is the last day

Know the details of NFO
The opportunity to subscribe to the scheme in a new fund offer is available for a limited period only. Investors can buy units of a mutual fund scheme during a pre-determined period and subscribe to the NFO at the offer value. It is usually fixed at Rs.10. Once it expires, investors will be able to buy fund units at the specified price. NFO subscribers, in general, have been able to earn much better profits post listing. That’s why this is a good earning opportunity. With the help of NFO, the fund house raises money from the public to buy securities like equity shares, bonds, etc. in the market.

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english summary

Mutual Fund Make money from new scheme today is last day know the details

HDFC Mutual Fund had just introduced two NFOs. Today is the last day to invest in both these NFOs.

Story first published: Wednesday, November 9, 2022, 12:43 [IST]





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