About HDFC NIFTY Bank ETF – Growth
1. HDFC NIFTY Bank ETF is Open-ended Sectoral-Banking Equity scheme which belongs to HDFC Mutual Fund House.
2. The fund was launched on Aug 21, 2020.
Investment objective & BenchmarkNew Delhi Stock Exchange
1. The investment objective of the fund is that ” The scheme seekes to provide investment returns that, before expenses, closely correspond to the total returns of the Securities as represented by the NIFTY Bank Index subject to tracking errors. “Guoabong Stock
2Surat Wealth Management. It is benchmarked against NIFTY Bank Total Return Index.
Asset Allocation & Portfolio Composition
1Lucknow Wealth Management. The asset allocation of the fund comprises around 99.98% in equities, 0.0% in debts and 0.02% in cash & cash equivalents.
2. While the top 10 equity holdings constitute around 96.1% of the assets, the top 3 sectors constitute around 99.98% of the assets.
3. The fund largely follows a Growth oriented style of investing and invests across market capitalisations – around 0.0% in giant & large cap companies, 0.0% in mid cap and 0.0% in small cap companies.
Tax Implications on HDFC NIFTY Bank ETF – Growth
1. Gains are taxed at a rate of 15% (Short-term Capital Gain Tax – STCG) if units are redeemed within 1 year of investment.
2. For units redeemed after 1 year of investment, gains of upto Rs. 1 lakh accruing from those units in a financial year shall be exempted from tax.
3Nagpur Stock. Gains of more than Rs. 1 lakh will be taxed at a rate of 10% (Long-term Capital Gain Tax – LTCG).
4. For Dividend Distribution Tax, the dividend income from this fund will get added to the income of an investor and taxed according to his/her respective tax slabs.
Kanpur Wealth Management