HDFC Mutual Fund will resume from June 11 subscriptions in its NIFTY Realty Index Fund, more than two months after halting fresh subscriptions and capping Systematic Investment Plans (SIPs) in the scheme.
“Further to the Addendum dated April 1, 2024 on discontinuation of lumpsum subscriptions and restriction on acceptance of systematic transactions under HDFC NIFTY Realty Index Fund, it has now been decided to resume subscriptions in the Scheme,” HDFC Mutual Fund said in a notice on Wednesday.
The scheme will accept subscriptions by way of lumpsum and additional purchases, switch-ins and new registrations of systematic transactions i.e. Systematic Investment Plan (SIP) / Systematic Transfer Plan (STP) / Transfer of IDCW Plan (TIP), etc, subject to minimum amounts as mentioned in the Scheme Information Document of the scheme with effect from June 11, 2024, it added.
The scheme is an open-ended scheme replicating/tracking the NIFTY Realty Index (TRI). HDFC Nifty Realty Index Fund new fund offer (NFO) had opened on March 7 and closed on March 21. HDFC Nifty Realty Index Fund is the first mutual fund scheme which completely focuses on the domestic realty sector.
In April, India’s third largest asset management firm discontinued fresh subscriptions and put a cap on SIPs. At that time, the fund house had stated that pre-registered systematic transactions would continue uninterrupted.
The fund house has also said that “all other terms and conditions as mentioned in the Scheme Information Document (SID) /Key Information Memorandum (KIM) of the Scheme will remain unchanged”.
