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 HDFC Mid-cap Opportunities Fund launched in city

Date : 2007-05-22

HDFC Mutual Fund ,the only fund house in the country to have Crisil 1 rating for process quality performance and corporate governance has launched its most awaited product 'HDFC Mid cap Opportunities Fund'.The product is launched at the hands of Managing Director,HDFC Mutual Fund,Milind Barve.
Talking to The Hitavada,Barve said that company had launched the product after extensive research and whole sales team is aggresssively marketing the product in different parts of the country."Share price of mid-cap is cheap and earning is more hence I expect good response from investors,"he opined.
Barve said that growth opportunities in mid-cap was more but cautioned that investors should stick to the plan for atleast three years."Mid and small-cap companies may take time to mature,therefore,there is need to remain invested fo a longer period of time,"he said.
Barve said that fund house would take benefit of the surge in foreign equity market and it mayinvest 25 per cent of the total investment in global market.He said that the fund house had applied to SEBI for another new product.'Prudence Dynamic fund'which will reach market in another three months.
Barve said that the fund house has striked a right balance between small cities(tier-II and III) and medium calss economy.
"Not only the fund house has launched product like 'HDFC Mid-Cap Opportunities Fund' but is also eyeing small cities,'he said.In the current finanacial year HDFC Mutual fund would open 42 new branches and 40 of them were coming in tier-II and III cities ,he added.
Barve highlighted the important reole played by the fund agents and said that HDFC Mutual Fund extract 70 per cent of its business through agents and just 30 percent from bank."Presently 20,000 agents are enrolled with the fund house adn every month we are adding 1500-2000 agents under our fold,"Barve said.