19/05/2023
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*HDFC Defence Fund*
NFO Period: 19th May – 2nd June 2023
Type of Scheme: An open-ended equity scheme investing in Defence & allied sector companies
*Why invest in HDFC Defence Fund?*
• Multipolarity to aid increase in global defence expenditure over long term
• India’s strong economic growth and geopolitical considerations support long runway for growth in defence expenditure
- Defence expenditures have been stable as a % of GDP
• India is focused on self-reliance – increasing opportunity available for Indian defence players
•Indian defence companies display strong orderbook and growth potential, with healthy balance sheets
*HDFC Defence Fund and its portfolio strategy:*
• Bottom-up approach of portfolio construction with deep understanding of the defence ecosystem
• Core of portfolio (>80%) will be listed companies that obtain at least 10% of revenues from defence segment within:-
-Stocks in AMFI Industry classification of Aerospace & Defence, Explosives, Ship Building & Allied Service
- Stocks present on SIDM (Society of Indian Defence Manufacturers) list
- Stocks from any other defence & allied sectors as per benchmark’s criteria (Nifty India Defence Index)
• Focus on growth and quality at reasonable valuation
• Investment across large, mid and small caps
• Benchmark—Nifty India Defence Index TRI (Total Returns Index)
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