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HDFC Mutual Fund launches its non-cyclical consumer fund
June 20, 2023
HDFC Asset Management Co. Ltd has announced the launch of the HDFC Non-Cyclical Consumer Fund which intends to invest across India’s consumption categories with a bottom-up stock selection approach for portfolio construction. The captioned NFO opens on June 23, 2023, and closes on July 07, 2023.
The fund’s investment strategy includes a core of the portfolio (at least 80%) being invested in stocks that represent the non-cyclical consumer theme within the basic industries like Consumer Goods, Consumer Services, Telecom, Healthcare, Media, Entertainment, and Publication. The universe for this theme is diverse – with 300+ companies having market caps of more than ₹500 crores. The fund will invest across market cap segments (largecaps, midcaps, and smallcaps), and diversify within consumer sectors and sub-sectors.
Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Company Limited said, “We are delighted to introduce the HDFC Non-Cyclical Consumer Fund to our investors. This new offering reflects our commitment to delivering differentiated opportunities in the market that help investors reach their wealth creation goals. As India moves further into Amritkaal, the consumption sector finds itself at an inflection point. Aided by factors such as India’s GDP per capita surpassing US$2000, themes including Demographic Dividend, Premiumization, Formalization, and Digitization which are expected to drive growth in this sector.”
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