The HDFC Nifty 50 Index Fund is an open-ended large cap equity scheme that tracks the performance of the NIFTY 50 Index. This fund is managed by HDFC Mutual Fund, one of the leading asset management companies in India. In this article, we will explore the performance, objective, NAV, and AUM of the HDFC Nifty 50 Index Fund.
HDFC Nifty 50 Index Fund Performance
The HDFC Nifty 50 Index Fund has consistently delivered strong returns over the years. As of May 31, 2024, the fund has returned 26.63% over the last one year, 16.34% over the last three years, and 14.2% over the last five years. These returns are significantly higher than the category average, making the fund a top performer in its category.
Objective
The primary objective of the HDFC Nifty 50 Index Fund is to generate returns that are commensurate with the performance of the NIFTY 50 Index, subject to tracking errors. The fund aims to provide investors with a low-cost and efficient way to invest in the Indian equity market, leveraging the diversification benefits of the NIFTY 50 Index.
NAV and AUM
The current NAV (Net Asset Value) of the HDFC Nifty 50 Index Fund is ₹211.46 as of May 31, 2024. The fund has an AUM (Assets Under Management) of ₹12,764.25 crore as of March 31, 2024, making it one of the largest index funds in India.
Expense Ratio of HDFC Nifty 50 Index Fund
The HDFC Nifty 50 Index Fund has an expense ratio of 0.36%, which is lower than the category average. This means that investors can expect to pay less in fees and expenses compared to other funds in the same category.
Tax Implications
The HDFC Nifty 50 Index Fund is a tax-efficient fund, with gains taxed at a rate of 15% if units are redeemed within one year of investment. This makes it an attractive option for investors looking to minimize their tax liability.
The HDFC Nifty 50 Index Fund is a top-performing fund in its category, offering investors a low-cost and efficient way to invest in the Indian equity market. With a strong track record of performance, a low expense ratio, and tax-efficient gains, this fund is an attractive option for investors looking to grow their wealth over the long term.