HDFC AMC brings a new equity mutual fund scheme under pharma and healthcare theme. Check details
HDFC Asset Management Company (AMC) the investment manager to HDFC Mutual Fund, has launched HDFC Pharma and Healthcare Fund. In a statement, the AMC said HDFC Pharma and Healthcare Fund is an open-ended equity scheme that will invest in pharma and healthcare-related companies with a bottom-up approach for stock selection.
The New Fund Offer opened today (September 14, 2023) and closes on September 28, 2023.
HDFC Pharma and Healthcare Fund will be managed by Nikhil Mathur, who is also a Senior Equity Analyst at HDFC AMC. The fund will aim to invest a core of its portfolio (> 80%) in pharma and healthcare-related companies. This includes basic industries like Pharmaceuticals, Hospitals, Healthcare Service Providers, Healthcare Research, Healthcare Analytics and technology, and Medical Equipment and supplies.
The Fund will seek to invest in companies which operate in a secular growth segment and/or gain market share due to unorganized-to-organized shift, superior execution, scale, better adoption of technology etc.
The AMC said that the pharmaceutical and healthcare theme offers a unique proposition that benefits from rising domestic healthcare spend and manufacturing leadership in global markets.
“Private healthcare spend has grown at a brisk pace in recent years, but there is considerable headroom given that healthcare spend as percentage of GDP is still low when compared to other emerging and developed economies,” the AMC said.
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Further, rising life expectancy, changing disease patterns, a higher share of the elderly population and insurance uptake would propel higher domestic healthcare spend in the long term,
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