BUSINESS

HDFC gets into real estate fund business

MUMBAI: Housing Development Finance Corporation (HDFC) has announced its foray into the real estate fund business with the launch of `HDFC Property fund' in association with State Bank of India (SBI). A trustee company — HDFC Ventures Trustee Company — and an asset management company — HDFC Venture Capital — have been incorporated for the fund. This venture capital fund approved by the Securities and Exchange Board of India would be investing in equity and equity linked instruments of companies engaged primarily in real estate in major cities.

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