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HDFC Mutual Fund has launched HDFC MNC Fund, which will invest predominantly in MNCs (Multi-National Companies) across sectors and market cap segment.
HDFC MNC Fund will invest at least 80% of net assets in MNCs. The fund house defines MNCs as
- Companies having foreign promoter shareholding >50%
- Companies that form part of Nifty MNC index
In a press release, Rahul Baijal, who is the Fund Manager of this scheme said, " MNCs have historically had good corporate governance, strong business models and attractive financial metrics. Also, they have had an attractive wealth creation track record over longer time frames.”
Navneet Munot, MD and CEO, HDFC MF said “In a world full of uncertainty and volatility, portfolio diversification is critical for investors. In view of this, we have launched this fund, which adds to our offerings; and could provide investors with diversification benefits, owing to potentially low overlap with broader market.”
