HDFC Mutual Fund has discontinued contemporary lumpsum investments into its HDFC Nifty Realty Index fund, which was began final month.

Additional, contemporary systematic transaction registrations reminiscent of SIPs, and STPs shall be registered solely underneath month-to-month frequency for an quantity upto Rs 1 lakh per investor, it stated in a press release.

The adjustments might be efficient from April 8, and the rationale for the discontinuation was not disclosed within the notice-cum-statement.

Nonetheless, systematic transactions registered previous to the efficient date shall proceed to be processed, the assertion stated. There shall be no restrictions on redemptions, switch-out, registration of contemporary systematic withdrawal plans, and STP-out from the scheme.

The open-ended scheme monitoring the Nifty Realty Index was open for subscription from March 7, 2024 to March 21, in accordance with HDFC Mutual Fund web site. With a really excessive threat, the scheme provided a daily plan and a direct plan with a progress possibility solely.

The discontinuation comes when the Nifty Realty Index has over the past 12 months has seen a progress of 135%. The index has seen a bounce of over 18% year-to-date, in accordance with Bloomberg. DLF Ltd. has the very best weightage within the Nifty realty index with over 29%, adopted by Godrej Property Ltd. and Macrotech Builders Ltd.