HDFC Asset Management Company Limited (HDFC AMC), the investment manager of HDFC Mutual Fund (HDFC MF), has announced the launch of HDFC MNC Fund, which invests primarily in MNCs (Multi-National Companies) across various sectors and market cap segments. Will invest The NFO will open on February 17, 2023 and close on March 03, 2023.
HDFC MF's MNC Fund will invest at least 80% of the net assets in equity and equity related instruments of MNCs. MNCs for the purpose of this fund will include companies with foreign promoter shareholding > 50% and those forming part of the Nifty MNC Index.
“The Fund is suitable for investors seeking to generate long-term capital appreciation by investing predominantly in equity instruments of multinational companies with an investment horizon of at least 3 years. In addition, the low overlap of MNCs with the broader market creates potential diversification benefits for investors," the fund house said in a statement.
Commenting on HDFC MNC Fund, Rahul Baijal, Fund Manager of the scheme said, “MNCs have historically had good corporate governance, strong business models and attractive financial metrics. Also, their wealth creation over the long term Creation has an impressive track record. In addition, they have demonstrated superior resilience during market downturns. This, along with the potential diversification benefits arising from less overlap with the broader market, has led to investments in multinational companies through HDFC MNC Fund. Makes an investment case for investment."
HDFC AMC manages a diversified asset class mix across Equity and Fixed Income/Others. It has a diverse distribution network consisting of banks, independent financial advisors and national distributors, as well as a nationwide network of branches.
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