Big News: HDFC Mutual Fund Changes Name of Top 100 Fund
HDFC Mutual Fund, which was established in 1999, is an asset management company that invests in a variety of stocks, such as equity, bonds, and money market instruments. HDFC mutual fund is mainly known for its strong track record and constant returns. The fund mainly invests in large-cap stocks.
Recently, HDFC Mutual Fund declared the changes in the name of its large-cap fund. The HDFC Top 100 Fund shall be renamed as the HDFC Large Cap Fund.
The changes will take place on January 1, 2025. The fund house notified its unitholders about this via a notice-cum-addendum issued on December 24.
The scheme is compared with the NIFTY 100 Total Returns Index (TRI). The large-cap scheme is handled by Rahul Baijal and Dhruv Muchhal. The main objective of the scheme is to offer long-term capital growth by investing primarily in large-cap companies.
The scheme is appropriate for those investors who are looking to generate long-term capital growth and want to invest in large-cap companies.
The scheme invests 80-100% of its funds in shares and related instruments of large-cap companies and 0-20% in shares and related instruments other than large-cap companies. and also invest 0-20% in debt securities and money market instruments, 0-10% in units issued by REITs and InvITs, and 0-10% in non-convertible preference shares.
On November 30, 2024, this scheme had an AUM of Rs.36,587.24 crore.
If you had started a monthly SIP of Rs.10,000 in the scheme from its inception, it would have grown to Rs.8.83 crore now, with an XIRR of 18.75%.
HDFC Large Cap Fund’s minimum amount of investment is Rs.100 and any amount thereafter.
During the last year, the scheme has delivered a 13.90% return, and this year the fund has given an 11.75% return.
