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MFs plan schemes to cash in on housing for all mission

Monday, June 05, 2017

Mutual fund houses plan to come up with special schemes focused on the housing sector that is expecting a big boost from the Centre's 'Housing for All by 2022' mission. HDFC Mutual Fund (MF), which has filed offer documents with markets regulator Sebi, plans to launch a close-ended thematic equity scheme 'HDFC Housing Opportunities Fund'.

Apart from this, a number of fund houses are expected to come up with new schemes that will invest in housing companies, industry experts said. The new scheme would deploy at least 70 per cent of its corpus in equity and equity-related instruments of entities in housing and its allied business activities. Besides, it can invest up to 30 per cent of its assets in shares of entities other than housing and its allied business.

Also, it has the provision for investment in debt and money market instruments as well as REITs (Real Estate Investment Trusts) and InVITs (Infrastructure Investment Trusts). Sebi, in January, had allowed mutual funds to invest in REITs and InVITs as part of its efforts to make real estate and infrastructure investments trusts attractive for investors.

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