HDFC Mutual Fund launches Nifty Metal ETF and FOF
HDFC Mutual Fund just rolled out two fresh schemes: the HDFC Nifty Metal ETF and the HDFC Nifty Metal ETF Fund of Fund (FOF).
These let you invest in big names from the metals and mining world, like steel, aluminum, copper, zinc, and more.
The ETF's New Fund Offer runs July 20-24, while the FOF is open through August 3.
Tracks Nifty Metal tri, ₹500/₹100 minimums
Both funds track the Nifty Metal Index TRI.
You can start with as little as ₹500 for the ETF or ₹100 for the FOF, and you don't even need a demat account for the FOF.
These schemes are all about tapping into sectors set to grow with India's push on infrastructure, renewable energy, and electric vehicles.
There are no entry or exit loads for the ETF; just keep in mind a 1% exit load on the FOF if you pull out within 15 days.
They are managed by Abhishek Mor and Arun Agarwal managing the HDFC Nifty Metal ETF, while Nandita Menezes and Arun Agarwal manage the HDFC Nifty Metal ETF FOF, so your money's in experienced hands.