HDFC Housing Opportunities Fund NFO has raised Rs.3,400 crore during its new fund offer. It was open for subscription from November 16 to November 30.
A senior official with the fund house said, “We have collected close to Rs.3,400 crore during the NFO period from over 2 lakh applications during the NFO period. We have seen robust investor demand across channels such as IFAs, banks as well as from direct investors,” he added.
The fund house had launched this fund on the back of government’s ‘Housing for All by 2022' initiative, which targets to build five crore homes through direct funding from the central and state governments and active participation by the private sector. The tenure of the fund is 1,140 days.
The other close-ended equity fund that was open for subscription during the same time, DSP BlackRock ACE Fund raised Rs.600 crore during its NFO. It received 30,000 applications across distribution channels, said a company official.
DSP BlackRock ACE Fund that has a tenure of 37 months aims to safeguard capital from downside. The fund will give equal weightage in all the top stocks identified within each sector by the analysts.
