HDFC Mutual Fund Scheme
HDFC Mutual Fund files India's first Defence Fund
HDFC Mutual Fund: Recently, HDFC Mutual Fund launched a Scheme Information Document (SID) along with Securities and Exchange Board of India (SEBI).
This would be India’s first Defence Fund. This defence concentrated fund will be an open ended scheme which can be invested in the Defence and Allied Sector Companies.
The defence allied sectors include Shipbuilding, Amunition, Airospace, Ships, industries and stocks present on the Society of Indian Defence Manufacturers (SIDM) list. Except this any other relevant industry which is allied to the Defence sector.
HDFC Mutual fund’s Defence Scheme invests in the companies and industries across Market Capitalization. This scheme will use a Bottom up strategy to ascertain companies.
Defence Fund will be benchmarked on the recently launched Nifty India’s Defence Index Total Return Index (TRI).
The main ingredients of the index by weightage are Hindustan Aeronautics, BEML, Astra Microwave Products, Bharat Dynamics, Bharat Electronics, Mazagoan Dock Shipbuilders, Solar Industries India, MTAR Technologies and Garden Reach Shipbuilders, and Engineers.
The Portfolio of the scheme will comprise the industries and companies which are the part of not only the Benchmark index but also other companies which are categorized under defence sector.
The investment Concentration is expected to be high as the Defence scheme is a sectoral Fund. This Defence Fund will be mainly executed by Abhishek Poddar. The Minimum allowed subscriptions during the NFO period will be 5,000 Rs.jpg)
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