Mutual Funds

HDFC Mutual Fund seeks SEBI nod to launch low volatility ETF

HDFC Mutual Fund has sought Securities and Exchange Board of India’s approval to launch HDFC Low Volatility ETF, according to the draft offer document filed on the regulator’s website.

The open-ended exchange-traded scheme will invest up to 95 percent of its assets in securities covered by the S&P BSE Low Volatility Index, while the remaining will be deployed in debt and money market instruments, excluding subscription and redemption cash flow.

Other features:

Minimum application: Rs 5,000 and in multiples of one rupee thereafter
Exit load: Nil
Performance benchmark: S&P BSE Low Volatility Index (Total Returns Index)

Fund managersKrishan Kumar Daga, Anil Bamboli and Vinay Kulkarni

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