HDFC Defence Fund to stop registrations of fresh SIPs/STPs

HDFC Defence Fund will cease accepting new SIPs and systematic transfer plans from July 22 but continue existing SIPs. It limited investments to ₹10,000 per PAN, returning 144% in a year. Stiff valuations challenge fund managers. Stocks like Bharat Electronics, Hindustan Aeronautics, and Mazagon Dock soared, outperforming Nifty 50's 26.9% rise since June 2023.