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Sunday, January 23, 2022

HDFC Mutual Fund’s gift to investors, NFO launched for better financial service

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The NFO was launched by HDFC Mutual Fund on June 11, it will run till June 25. Its purpose is to provide better facilities to retail investors.

HDFC Mutual Fund

HDFC Mutual Fund has launched a new Fund Offer (NFO) to provide better financial services to retail investors. The new fund will improve investment in banking and financial services sector by market capitalization including banking, broking, asset management, wealth management, insurance, non-banking financial companies (NBFCs), and other companies. The fund will also focus on opportunities in new listings that include pre-IPO participation in lending, insurance, capital markets businesses and fintechs.

The NFO will run till June 25. It is an open ended fund so one can invest even after this. According to HDFC Mutual Fund, this is the right time for Banking & Financial Services Fund. At present, the GDP growth rate is down and there is a possibility of strong economic growth after FY 2022. In such a situation, it will help in improving the capital expenditure cycle.

HDFC Mutual Fund issued a statement saying, “Indian banking is at its best after many years, the capital expenditure cycle is likely to revive and should support credit growth.” During this, it was also said that the cost is likely to come down due to the increase in digital delivery of services as compared to the pre-Covid period. This is a positive aspect for financial services.

Commenting on the new NFO, fund manager Anand Laddha said, “In the last two decades, the financial services sector has grown faster than the GDP growth rate. Despite this growth, the penetration of various banking and financial services in the Indian economy remains low. Despite this, the banking and financial services sector has given better results in the growth phase of the economy.

Also read: This is how you earn from IPO, you also have a bumper chance, 5 big IPOs are coming next week

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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