HDFC Mutual Fund Launches Mid-Cap Opportunities Fund

New Delhi, May 17 (UNI) HDFC Mutual Fund today launched a three-year close-ended scheme called, HDFC Mid-Cap Opportunities Fund here.

The scheme will automatically become open-ended on maturity. The NFO period for the fund is May 7 - June 8, 2007.

The investment objective of the scheme is to generate long-term capital appreciation from a portfolio that is substantially constituted of equity and equity related securities of Small and Mid- Cap companies.

Speaking on the fund, Mr Milind Barve Managing Director HDFC Mutual Fund said, ''The Indian economy has shown robust secular growth and this trend is expected to continue, fueling the growth of Indian companies. We believe that mid cap stocks are available at valuations that provide superior return prospects.'' He added ''We will identify performers from the large universe of small and mid-cap stocks that display growth potential and reward long term investors.'' HDFC Mutual Fund will invest in businesses having predictable cash flows and long-term competitive advantages.

HDFC Mid-cap opportunities fund will offer for redemption/ switch out of units on an ongoing basis at quarterly intervals at NAV based prices.

It will also provide the Growth and Dividend options in each plan.

The fund will have an equity component of 75-100 per cent. Debt and money-market securities will be in the range of 0-25 per cent.

During the NFO period, the fund will not charge entry or exit loads.

An individual investor can start by investing with minimum Rs 5,000 and in multiples of Rs 1,000 thereafter in this Fund.

UNI