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HDFC Mutual Fund (MF) has launched HDFC Defence Fund, an open-ended equity scheme investing in Defence & allied sector companies. The NFO opens for subscription on May 19, 2023 and closes on June 02, 2023. The Entry load is not applicable for the scheme. In respect of each purchase/switch-in of units, an Exit load of 1% is payable -if units are redeemed/switched-out within 1 year from the date of allotment and no Exit Load is payable -if units are redeemed / switched-out after 1 year from the date of allotment. The minimum subscription amount is Rs 100 and any amount thereafter.

The performance of the scheme will be benchmarked to the performance of Nifty India Defence Index TRI (Total Returns Index) and its fund managers are Abhishek Poddar and Priya Ranjan (overseas Investments). 

The investment objective of the scheme is to provide long-term capital appreciation by investing predominantly in equity and equity related securities of Defence & allied sector companies.