Page 15 - Banking Finance April 2022

MUTUAL FUND

Mutual Fund

News

Aditya Birla, HDFC Mutual ICICI Prudential Mutual AMC, said, ""Housing as a theme, we
believe is at the cusp of a strong cycle.
Fund to merge FMPs into Fund launches Housing India's favorable demographics, grow-

debt funds Opportunities Fund ing middle class population, increased
Aditya Birla Sun Life Mutual Fund and ICICI Prudential Mutual Fund has urbanization, better affordability and
lower home loan interest rates are
HDFC Mutual Fund will merge their launched ICICI Prudential Housing Op- creating a conducive environment for
Fixed Maturity Plans (FMPs) - fixed ten- portunities Fund, an open-ended equity
scheme investing in equity and equity- housing. The scheme is suitable for in-
ure debt products - coming up for
related instruments of entities ex- vestors looking for opportunities to
maturity in April and May into their participate in potential growth of Hous-
existing open-ended fixed income pected to benefit from the growth in ing themes in the country."
schemes. housing theme.
The scheme will invest in basic eligible HSBC Mutual Fund
The move will be more tax-efficient for industries that form a part of Nifty
investors who do not need the invest- Housing Index. launches HSBC CRISIL IBX
ment proceeds immediately, said in- Housing as a theme encapsulates vari- 50:50 Gilt Plus
vestment advisors.
ous sectors like cement, consumer HSBC Mutual Fund has launched HSBC
Aditya Birla Sun Life Mutual Fund said electronics, housing finance, banks, CRISIL IBX 50:50 Gilt Plus SDL Apr 2028
it will merge 17 FMPs with total assets power, steel, LPG/CNG/PNG/LNG sup- Index Fund (HGSF), an open-ended Tar-
under management of 4,000 crore pliers etc. The fund house believes that get Maturity Index Fund tracking
maturing between April 15 and May housing as a theme seems to be poised CRISIL IBX 50:50 Gilt Plus SDL Index -
23 into Aditya Birla Sun Life Low Dura- for a turnaround as the real estate April 2028. The fund house says that
tion Fund and Aditya Birla Sun Life Nifty oversupply of 2008-2012 appears to be the scheme has relatively high interest
SDL April 2027. digested. This may lead to less pres- rate risk and relatively low credit risk.
sure on real estate prices thereby aid-
HDFC Mutual Fund plans to merge five HGSF with a mix of quality debt papers
ing housing as a theme to perform
FMPs with AUM of about 1,100 crore better. With the number of Indians liv- aims to provide better risk-adjusted
into HDFC Corporate Bond fund. performance and liquidity. The fund will
ing in urban areas expected to reach be benchmarked against CRISIL IBX
"In a rising interest rate scenario, in- 525 million by 2025 and 600 million by 50:50 Gilt Plus SDL Index - April 2028
vestors looking for an alternative to 2036, Real Estate sector in India is and managed by Kapil Punjabi, SVP -
reinvest their FMP proceeds get a expected to reach USD $1 trillion by Fund manager Fixed Income. The fund
ready solution, with liquidity and effi- 2030. aims to focus on the six-year target
cient taxation," said A Speaking on the launch of the product, maturity segment and gain from the
Balasubramanian, CEO, Aditya Birla Chintan Haria, Head - Product Devel- current volatile outlook on long-term
Sun Life Mutual Fund. opment and Strategy, ICICI Prudential securities.

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