Equity mutual funds recorded varying returns in April. Among the 488 schemes, HDFC Defence Fund stood out with a 12.56% return, while Edelweiss US Technology Equity FOF suffered the most with a loss of 5.14%.
Nippon India Life Asset Management has announced that it will not accept lump sum investments into Nippon India Small Cap Fund (NISC) from July 7. The restriction will also apply to switch in transactions. NISC is the largest small cap fund in the mutual fund industry with assets under management of Rs 31,945 crore.
Market sources told Moneycontrol that since the number of stocks and investment options are limited, a reasonable inflow in its NFO period will suffice for the fund.
Being the first defence sector Indian mutual fund, the offering may see high investors interest. Still, HDFC Defence fund is not for meant for naïve investors. Only savvy investors may consider exposure and too in a staggered manner.
Investment Objective will be to provide long-term capital appreciation by investing predominantly in equity and equity related securities of Defence & allied sector companies.