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.