HDFC Mutual Fund launches India's first defence fund

HDFC Mutual Fund launches India's first defence fund

Daily Current Affairs   /   HDFC Mutual Fund launches India's first defence fund

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Category : Business and economics Published on: May 19 2023

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  • HDFC Asset Management Company Ltd has announced the launch of the country's first mutual fund focused on defence sector, a move that will provide investors an opportunity to participate in the growth potential of this space.
  • The new fund offering (NFO) of HDFC Defence Fund, an open-ended equity scheme, would open on May 19 and close on June 2.
  • The fund will invest at least 80 per cent of its net assets in defence and allied sector companies. 
  • Defence and allied sector stocks include stocks forming part of aerospace and defence; explosives, shipbuilding and allied services.
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