HDFC MF ramps up presence; PPFAS MF allows redemptions in liquid fund

HDFC MF ramps up presence with 24 new branches

In a bid to ramp up its physical presence, HDFC Mutual Fund opened up 24 new branches across the country on Tuesday. With the new additions, the total branch count stands at 276, the fund house said in a press release. The newly-inaugurated branches are mostly in smaller towns like Angul, Cooch Behar, Hazaribagh, Renukoot and Raebareli. The list also includes Delhi and Mumbai suburbs like Greater Noida, Dwarka, and Kharghar. Even as the mutual fund investment process has gone digital, mutual funds have not pulled the plug on their brick-and-mortar expansion plans. Fund houses, especially the larger ones, have been expanding their presence to establish early footholds in smaller cities. 

PPFAS MF allows instant redemptions in liquid fund

PPFAS Mutual Fund (MF) has launched 'instant access facility' for Parag Parikh Liquid Fund investors, wherein investors can instantly redeem 90 per cent of their units, subject to the maximum limit of Rs 50,000. PPFAS MF joins peers like Aditya Birla Sun Life, Axis, ICICI Prudential, Nippon India, Sundaram and PGIM in offering the facility to investors. Fund houses can provide instant redemption facility in only two schemes — liquid funds and overnight funds.