From 22 July you can no longer invest in this scheme of HDFC bank

Date:

Share:

The biggest private sector bank in the nation, HDFC, has released a significant update through its mutual fund business. The mutual fund plan has been closed, as announced by the HDFC bank. Starting on July 22, no new registrations will be accepted for this. The HDFC Group mutual fund business has made it clear that as of July 22, it will no longer accept new investments in this program. In reality, the HDFC Defense Mutual Fund will no longer accept new investments.

HDFC bank

You cannot participate in this HDFC offer, so why did you make this choice?

HDFC Mutual Fund announced on July 9 that it will no longer be accepting new SIP deposits in its military fund as of July 22. Additionally, the business has decided to discontinue lump sum and systematic transfer plans in this fund. HDFC Defense Fund is considered a highly concentrated fund. It has 21 stocks, of which 63 percent weight is concentrated in just five stocks. The money of this fund is invested in defense or related companies. HDFC launched the Defense Fund on June 2, 2023. Its AUM reached Rs 3,665.95 crore. This fund of the company got a tremendous response from the people. Now the company is shutting it down, because experts believe that there is less liquidity and fewer investment options.

HDFC bank

What will the elderly investors’ fate be?

According to HDFC, current investors will continue to invest in the Defense Fund after July 22. No new investments will be made in the fund after that date. We will only accept investments from current investors. This fund had the highest return among all the funds in the previous year. Investors have received a yearly return of almost 144% thanks to it. The business has made it clear that the existing SIPs and investments in this fund will carry on as previously. Those who have already made investments in this fund are still allowed to make withdrawals and make additional investments. For them, nothing will change. In other words, if you have made investments in this fund, you don’t need to worry.

Read More: Bumper recruitment at SAIL & ONGC, with high salaries! view details

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 Facebook Page                  Click Here
🔥 Twitter                               Click Here
🔥 Instagram                  Click Here

Subscribe to our magazine

More Like This

This central government scheme is giving loan of Rs 3 lakh at 5 percent interest

The Central Government operates the Pradhan Mantri Vishwakarma Yojana. This program helps artists and other craftspeople advance by providing them with skill training and...

This bank has released bumper recruitment, these are the details

592 positions in a variety of professional areas with fixed-term contracts are up for grabs at the Bank of Baroda. Recruitment is being accepted...

IBPS RRB PO Mains Result 2024 released, know how to download it

IBPS RRB PO Mains Result 2024: On November 4, 2024, the Institute of Banking Personnel Selection (IBPS) formally announced the results of the CRP-RRBs-XIII...

Mahindra will launch two new electric cars on this date, know the features

Mahindra, a car manufacturer, will soon be prepared to launch two new electric cars. The corporation has also produced a teaser for both, which...

Realme launched a new 5G smartphone with 16GB RAM & powerful battery

A new 5G smartphone was introduced to the market today by smartphone manufacturer Realme. The Realme GT 7 Pro boasts a strong battery that...

LEAVE A REPLY

Please enter your comment!
Please enter your name here