HDFC Mutual Fund has announced that it will stop accepting requests for registration for Systematic Investment Plan (SIP) in the scheme from July 22, 2024.
New Delhi: The leading mutual fund house HDFC Mutual Fund has announced to stop lump sum subscription and ban individual transactions in its HDFC Defense Fund after a few days. The fund house will implement this change from July 22, while the last day of allotment in HDFC Defense Fund is July 22. HDFC Mutual Fund has announced that it will stop taking requests for registration for Systematic Investment Plan (SIP) in the scheme from July 22, 2024. Apart from this, there will also be a ban on new lump sum investment including switch-in and new individual transfer registration in the scheme.
This scheme is closed
Let us tell you that the process of Systematic Investment Plan (SIP) registered before July 22, 2024 will continue. Apart from this, the previously registered individual transaction process will also continue. The fund house further said that there is no ban on redemption / switch-out / STP-out.
HDFC Defense Fund gave strong profit
HDFC Mutual Fund, which raised Rs 1,000 crore in a new fund offer (NFO) dedicated to investing in defense-related companies, has stopped lump sum investment in this scheme from June 12, 2023. HDFC Defense Fund, launched on June 2, 2023, has given a profit of 114.47% since its inception. In the last one year, this scheme has given a compound annual growth rate (CAGR) return of 121.99%, while during the last 3 and 6 months it has given a profit of 33.02% and 52.22% respectively.
This mutual fund scheme has been benchmarked against Nifty India Defense – TRI. Nifty India Defense has given a CAGR return of about 169.91% in the last one year. Apart from this, the benchmark has given a profit of 52.25% and 79.23% respectively in the period of 3 and 6 months.
A SIP of Rs 10,000 would have been Rs 2.19 lakh at this time
It is worth noting that a monthly SIP investment of Rs 10,000 in this fund at the time of launch has now become Rs 2.19 lakh with an XIRR of 132.84%. In simple words, if you had invested Rs 10,000 every month in this fund, it would have turned into Rs 2.19 lakh by now.
