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HDFC MF has launched HDFC Business Cycle Fund, an open-ended thematic equity fund that aims to invest in companies which are likely to benefit from business cycles.
In a press release, Navneet Munot, MF and CEO, HDFC MF said, “In an era marked by increasing complexities and shortening of business cycles, positioning portfolios well should be a rewarding activity. The launch of this NFO is a further step in the direction of being the wealth creator for every Indian.”
Rahul Baijal will manage this fund. Talking about the fund, he said, “India is expected to be among the fastest growing large economies and strong fundamentals hold us in good stead in a global environment of rising risks. Factors such as improving health of the banking and real estate sector, increasing investments by corporates bode well for equities over medium to long term. We believe that investing in the business cycle fund could be a good allocation strategy and the fund could be held by investors for long periods of time.”
