Active Stocks
Mon Mar 04 2024 15:59:52
  1. Tata Steel share price
  2. 153.10 -1.32%
  1. NTPC share price
  2. 353.80 3.50%
  1. Bharti Airtel share price
  2. 1,137.00 0.57%
  1. Larsen & Toubro share price
  2. 3,643.95 -0.28%
  1. Power Grid Corporation Of India share price
  2. 294.45 2.63%
Business News/ Mutual Funds / News/  HDFC Mutual Fund's new MNC fund to invest in multinational companies

HDFC Mutual Fund's new MNC fund to invest in multinational companies

HDFC MNC Fund's NFO opened on February 17, 2023 and closes on March 03, 2023


HDFC Asset Management Company Limited (HDFC AMC), investment manager to HDFC Mutual Fund (HDFC MF), has announced the launch of HDFC MNC Fund, which will invest predominantly in MNCs (Multi-National Companies) across sectors and market cap segment. The NFO opened on February 17, 2023 and will close on March 03, 2023.

HDFC MF's MNC Fund will invest at least 80% of Net Assets in equity and equity related instruments of MNCs. For the purpose of this fund MNCs shall consist of companies having foreign promoter shareholding >50%, and companies that form part of Nifty MNC index.

“The fund is suitable for investors who aim to generate long-term capital appreciation by investing pre-dominantly in equity instruments of MNCs, with an investment horizon of at least 3 years. Further, the low overlap of MNCs with broader market creates potential diversification benefit for investors," the fund house said in a statement.

Commenting on HDFC MNC Fund, Rahul Baijal, who is the Fund Manager of this Scheme, said, “ MNCs have historically had good corporate governance, strong business models and attractive financial metrics. Also, they have had an attractive wealth creation track record over longer time frames. Further, they have exhibited better resilience during market downswings. This, along with potential diversification benefits arising out of a low overlap with broader market, does create an investment case for investing in MNCs through HDFC MNC Fund."

HDFC AMC manages a diversified asset class mix across Equity and Fixed Income/Others. It also has a countrywide network of branches along with a diversified distribution network comprising Banks, Independent Financial Advisors and National Distributors.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Mutual Fund news and updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 22 Feb 2023, 02:22 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App