Mumbai: HDFC Asset Management Company Ltd has announced the launch of the country’s first mutual fund focussed on defence sector, a move that will provide investors an opportunity to participate in 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, HDFC AMC said in a statement.
“In a multipolar world, defence expenditure globally is set to increase as countries enhance their defence capabilities. Self-reliance in defence led by strong R&D (Research and Development) focus and enhancement of manufacturing capabilities creates opportunity for Indian companies to serve domestic market as well as tap large export potential. This could offer a multi-decadal investment opportunity,” said Abhishek Poddar – Fund Manager Equity and Senior Equity Analyst, Dealing and Investments at HDFC AMC.
