Download pdf - HDFC Children's Gift Fund · Some typical benchmarks include the NIFTY, SeNSex, BSe200, BSe500, 10-Year Gsec. Entry Load A mutual fund may have a sales charge or load at the time

February 2019

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Capital appreciation over long term Investment in equity and equity related instruments as well as debt and money

market instruments

HDFC Children’s Gift Fund is suitable for investors who are seeking*:

HDFC Children's Gift Fund

turns

Just like a parent, HDFC Mutual Fund is happy to announce that HDFC Children’s Gift Fund has reached a special milestone and is standing tall as an 18 year old.

Time just �ew by, and we’re sure your children are keeping up with the pace.

Inception Date: March 02, 2001

2 February 2019

Fund ManagerAn employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts.

Application Amount for Fresh SubscriptionThis is the minimum investment amount for a new investor in a mutual fund scheme.

Minimum Additional AmountThis is the minimum investment amount for an existing investor in a mutual fund scheme.

Yield to MaturityThe Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond’s current market price, par value, coupon interest rate and time to maturity.

SIPSIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund for a period of three years.

NAVThe NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund.

BenchmarkA group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the NIFTY, SeNSex, BSe200, BSe500, 10-Year Gsec.

Entry LoadA mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. entry load is charged at the time an investor purchases the units of a mutual fund.

The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs. 100 and the entry load is 1 %, the investor will enter the fund at Rs. 101. (Note: SeBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor).

Exit Loadexit load is charged at the time an investor redeems the units of a mutual fund. The exit load is reduced from the prevailing NAV at the time of redemption. The investor will receive redemption proceed at net value of NAV less Exit Load. For instance if the NAV is Rs. 100 and the exit load is 1%, the investor will receive Rs. 99.

Modified DurationModified duration is the price sensitivity and the percentage change in price for a unit change in yield.

Standard Deviation

Standard deviation is a statistical measure of the range of an investment’s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility.

Sharpe Ratio

The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk.

Beta Ratio (Portfolio Beta)

Beta is a measure of an investment’s volatility vis-a-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security’s price will be more volatile than the market.

Average portfolio PE (Average P/E)

It is price to earnings ratio of the stocks calculated for the entire portfolio on a weighted average basis.

Average portfolio price to book ratio (Average P/BV)

It is price to book value of the stocks calculated for the entire portfolio on a weighted average basis.

Average portfolio dividend yield (Average Dividend Yield)

It is dividend yield of the stocks calculated for the entire portfolio on a weighted average basis.

Net Equity

Net equity level is the net equity exposure percentage adjusted for any derivative positions in stocks or index for hedging or rebalancing purpose.

R Squared

It is a statistical measure of how closely the portfolio returns are correlated with its benchmark.

AUM

AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm.

Holdings

The holdings or the portfolio is a mutual fund’s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager.

Nature of Scheme

The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. each of these categories may have sub-categories.

Rating Profile

Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds.

HOW TO READ FACTSHEET

Sharpe RatioSharpe Ratio is a risk to reward ratio, it measures portfolio returns generated in excess to the investment in risk-free asset, for per unit of total risk taken. While, positive Sharpe ratio indicates, portfolio compensating investors with excess returns (over risk-free rate) for the commensurate risk taken; negative Sharpe ratio indicates, investors are better off investing in risk-free assets.

BetaBeta (ß) of a portfolio is a number indicating the relation between portfolio returns with that of the market index i.e. it measure the volatility, or systematic risk, of a portfolio in comparison to the market as a whole.

Modified DurationA formula that expresses the measurable change in the value of a security in response to a change in interest rates. Modified duration of portfolio can be used to anticipate the change in market value of portfolio for every change in portfolio yield.

Standard DeviationA statistical measure that defines expected volatility/risk associated with a portfolio. This explains the variation/deviation from the average returns delivered by the portfolio. A higher standard deviation means higher volatility (risk) and a lower standard deviation means lower volatility.

Risk Free ReturnThe theoretical rate of return of an investment with safest (zero risk) investment in a country.

Total Expense RatioTotal expenses charged to scheme for the month expressed as a percentage to average

monthly net assets.

Tracking ErrorTracking error indicates how closely the portfolio return is tracking the benchmark Index return. It measures the deviation between portfolio return and benchmark index return. A lower tracking error indicates portfolio closely tracking benchmark index and higher tracking error indicates portfolio returns with higher deviation from benchmark index returns.

Average MaturityWeighted average maturity of the securities in scheme.

Portfolio Yield (Yield To Maturity)Weighted average yield of the securities in scheme portfolio.

Portfolio Turnover RatioPortfolio Turnover Ratio is the percentage of a fund’s holdings that have changed in a given year. This ratio measures the fund’s trading activity, which is computed by taking the lesser of purchases or sales and dividing by average monthly net assets.

Macaulay Duration (Duration)Macaulay Duration (Duration) measures the price volatility of fixed income securities. It is often used in the comparison of interest rate risk between securities with different coupons and different maturities. It is defined as the weighted average time to cash flows of a bond where the weights are nothing but the present value of the cash flows themselves. It is expressed in years. The duration of a fixed income security is always shorter than its term to maturity, except in the case of zero coupon securities where they are the same.

GLOSSARY

February 2019 3

Equity Market updateIn Feb19, Indian equity markets remained marginally negative amid conservative

positioning by investors given impending elections, rise in tension with Pakistan, concerns over rising oil prices and moderate earnings growth in Q3FY19. Small cap indices continue to underperform S&P BSE SENSEX / NIFTY 50 during the month as stocks continued to correct. Most sub-indices except Oil & Gas and Auto, delivered negative returns and underperformed major indices in India.

Performance of global equity markets was good for two consecutive months with major indices in US, Europe and major Asian markets delivering positive returns on m-o-m basis. However, this should be viewed in context of their underperformance in CY18. MSCI Emerging Market indices were largely unchanged for the month.

The table below gives the details of performance of key domestic and global indices.% Change in Indices CY 2018 1M CYTD 2019S&P BSE India AutoS&P BSE India BankexS&P BSE India Capital GoodsS&P BSE India FMCGS&P BSE India HealthcareS&P BSE India MetalS&P BSE India PowerS&P BSE India Oil & GasS&P BSE India ITS&P BSE SENSEXNIFTY 50NIFTY Midcap 100NIFTY Smallcap

(22.1)5.3

(1.6)10.6(5.9)

(20.7)(16.1)(15.6)24.95.93.2

(15.4)(29.1)

1.7(2.3)(1.3)(2.3)(0.9)(1.8)(2.8)1.4

(0.1)(1.1)(0.4)(1.1)(3.2)

(9.7)(1.1)(9.2)(4.0)(1.2)(9.1)(8.5)0.48.3

(0.6)(0.6)(6.5)(8.0)

% Change in Indices CY 2018 1M CYTD 2019S&P 500FTSEDAXCACNikkeiHang SengKOSPIShanghaiMSCI Emerging Market Index

(6.2)(12.5)(18.3)(11.0)(12.1)(13.6)(17.3)(24.6)(16.6)

3.01.53.15.02.92.5

(0.4)13.80.1

11.15.29.1

10.86.8

10.87.6

17.98.8

With the sharp underperformance of smallcaps over the past 12-14 months, valuation in this space have corrected significantly and thus it makes sense to have a balanced view of markets going forward.

Absolute Returns %As on February 28, 2019 1 year 3 years 5 yearsNIFTY 50 (A) 2.9% 54.5% 71.9%NIFTY Midcap (B) -15.0% 44.7% 114.2%Outperformance vs NIFTY 50 (B – A) -17.8% -9.8% 42.3%NIFTY Smallcap (C) -29.0% 36.0% 81.1%Outperformance vs NIFTY 50 (C – A) -31.8% -18.4% 9.2%

After rising by ~15% in Jan19, Brent crude prices ended the month rising by ~7% and closed at USD 66 per barrel. This was primarily driven by production cuts by OPEC and Russia as well as nearing Iran waiver expiry. % Change CY 2018 1M CYTD 2019Brent CrudeGoldSteelZincCopperAluminiumLead

(19.5)(1.6)

(13.1)(24.1)(16.7)(17.4)(19.5)

6.7(0.6)1.72.76.3

(0.1)3.1

22.72.43.011.39.61.47.2

Most major commodity prices have been rising in 2019. After registering strong rise in Jan19, major commodities prices further rose on m-o-m basis. This was primarily driven by news of good progress in trade war negotiation between US and China as well as US Fed commentary turning dovish.

INR ended the month at 70.7 vs USD, up ~0.7% on back of improvement in FII flows and general weakness in USD.

After being net sellers during Jan19, FPIs turned net buyers and bought equity worth USD 2.4 bn in February 2019. Total FPI’s Equity outflows in FY19YTD till February 2019 have been close to US$4.8bn. Equity oriented mutual funds flows moderated m-o-m, though still remained healthy on FYTD basis and provided a good counter balance in the markets. Net inflows in domestic equity oriented mutual funds in Jan19 and 10MFY19 were near Rs 52 bn and Rs 1,061 bn respectively.

In Q3FY19, results of corporate banks, construction & capital goods, metals and Oil & Gas were above or slightly above expectations while for Retail NBFCs, IT, Telecom and Power were largely in line with expectations. Earnings for wholesale focussed NBFCs, Auto and Pharma were below or slightly below expectations.

NIFTY 50 is trading near 16.7x CY19 (e) and 14.2x CY20 (e). These are reasonable multiples especially in view of improving profit growth outlook. Markets thus hold promise over the medium to long term in our opinion. Adverse global events, rise in crude oil prices, sharp moderation in equity oriented mutual funds flows and delays in NPA resolution under NCLT are key risks in the near term.

OutlookIn view of the above and expected recovery in earnings, there is merit in increasing

allocation to equities in a phased manner or in staying invested as the case may be (for those with a medium to long term view and in line with individual risk appetite).

Debt Market update

The yield on 10-year benchmark Gsec (7.26 GoI 2029) ended the month of February at 7.41%, up by 13 bps over the previous month end. The table below gives a summary view of movement of key rates & liquidity.

Jan-19 Feb-19 Change (%)10Yr G-Sec Yield (%, 7.26 GoI 2029) 7.28 7.41 0.13AAA 10Yr Corporate Bond Yields (%) 8.40 8.60 0.20AAA 10Y corporate bond spread against 7.26 GS 2029 Yield (bps) 99 105 0.06

Average liquidity absorbed / (infused) by RBI* (INR bn) (approx.) -346 -704

MIBOR Overnight Rate (%) 6.50 6.35 -15*Average daily liquidity infused / absorbed through Liquidity Adjustment Facility, exports refinance, marginal standing facility and term repos/reverse repos.

To support liquidity, RBI conducted Open Market Operations (OMO) purchases of INR 375 billion in Feb19 and also announced plans to conduct further OMOs of INR 250 bn in first half of Mar19. RBI also announced an interim dividend of INR 280 bn to Government of India. Further, RBI has announced plan to do longer term repos of INR 1,000 bn in four tranches in Mar19 to support seasonal liquidity deficit.

Net FII debt flows were negative with outflows of USD 0.8 bn during the month as against inflows of USD 0.2 bn in Jan19. In the 11MFY19, net FII debt outflows aggregated to USD 7.9 bn as against inflows of US$ 19.9 bn during the corresponding period last year. INR ended the month at 70.7, a m-o-m appreciation of 0.7% against USD supported by positive equity FII flows.

The annual rate of retail inflation, CPI declined marginally to 2.05%, down 6 bps m-o-m led by fall in food prices (mainly pulses, vegetables, fruits and sugar & confectionery). Core CPI (CPI excluding food, fuel, transportation & housing) however remained elevated at 5.9% from 6.0% a month ago, mainly on account of high services inflation, especially rural health and education.

For the month (%) Dec-18 Jan-19 Change in %CPIFood & beveragesFuel and LightHousingCore CPI

2.1-1.64.55.36.0

2.0-1.32.25.25.9

-0.10.3-2.3-0.1-0.1

India’s trade deficit for Jan19 increased to USD 14.7 bn from USD 13.1 bn primarily led by increase in net oil imports on back of rise in crude oil prices. Further, trade deficit ex of oil & gold increased in Jan19 primarily due to lower exports of agricultural products, chemicals and engineering goods.

Amount in USD bn Dec-18 Jan-19 Change (%)Trade Deficit 13,128 14,726 12.2

Net Oil imports 6,478 8,027 23.9Net Gold imports* 2,815 981 -65.2Trade deficit ex oil & gold 3,835 5,719 49.1

* includes net imports of gold, silver & precious stones adjusted for gems & jewellery exports.India’s GDP growth slowed down to 6.6% YoY in Q3FY19 from 7.0% in Q2FY19 led by

slowdown in private as well as government consumption expenditures. Growth in gross capital formation held up well and rose by 10.5% from 9.9% a quarter ago. Growth in GVA moderated to 6.3% in Q3FY19 from 6.8% a quarter ago primarily led by slowdown in services, especially public administration, defense and other services (PADO). A brief summary of YoY growth of major components of GDP and GVA is given in table below.

Quarter ended 30-09-2018 31-12-2018 Quarter ended 30-09-2018 31-12-2018Overall GVA 6.8% 6.3% Overall GDP 7.0% 6.6%Agriculture, forestry and fishing 4.2% 2.7%

Private Consumption 9.8% 8.4%

Industry 6.7% 7.1% Government Consumption 10.8% 6.5%

Construction 8.5% 9.6% Gross Capital Formation 9.9% 10.5%

Service 7.4% 7.2% Exports 13.9% 14.6%PADO 8.7% 7.6% Imports 21.4% 14.7%

OutlookThe Monetary Policy Committee (MPC) minutes released for its meeting held in February

2019 seemed quite dovish and, in our opinion, open up possibility of another rate cut by 25 bps in the near term unless the inflation surprises on upside. However, we continue to believe that this rate cut cycle is likely to be a shallow one.

Though the near term inflation outlook remains benign due to low food prices and range bound oil prices, we prefer to maintain a cautious stance considering expectation of uptick in growth in FY20, credit growth outpacing deposit growth, possibility of food inflation rebounding and likely fiscal pressure. Further, large increase in gross market borrowings in FY20 over FY19 along with low demand for government bonds due to excess Statutory Liquidity Ratio (SLR) in the banking system could put upward pressure on long term yields.

In view of the above, the short to medium end of the yield curve continues to offer better risk adjusted returns than the long end. Hence, we continue to recommend investment in short to medium duration debt funds.

Market Review

Source for various data points: Bloomberg, Bloomberg Consensus, NSDL, CMIE, RBI

4 February 2019

CONTENTS

PAGE NO.

WEAlTH CREATiON

HDFc Equity Fund ............................................................................. 05

HDFc capital Builder Value Fund ........................................................ 06

HDFc Top 100 Fund ........................................................................... 07

HDFc Mid-cap Opportunities Fund ..................................................... 08

HDFc Small cap Fund ........................................................................ 09

HDFc Growth Opportunities Fund ...................................................... 10

HDFc Focused 30 Fund ...................................................................... 11

HDFc Infrastructure Fund .................................................................. 12

HDFc Balanced Advantage Fund ........................................................ 1 3 - 1 4

HDFc Hybrid Equity Fund ................................................................... 15-16

HDFc Multi-Asset Fund ...................................................................... 17-18

HDFc NIFTY 50 ETF ............................................................................ 19

HDFc Index Fund - NIFTY 50 Plan ....................................................... 20

HDFc SENSEx ETF .............................................................................. 21

HDFc Index Fund - SeNSex Plan ......................................................... 22

TAx SAVINGS

HDFc Taxsaver .................................................................................. 23

CHilDREN'S FUTURE

HDFc children’s Gift Fund ................................................................. 24-25

RETIREMENT PLANNING

HDFc Retirement Savings Fund - Equity Plan ....................................... 26

HDFc Retirement Savings Fund - Hybrid Equity Plan ............................ 27

HDFc Retirement Savings Fund - Hybrid Debt Plan .............................. 28

PAGE NO.

REgUlAR iNCOME

HDFc Equity Savings Fund ................................................................. 29-30

HDFc Hybrid Debt Fund ..................................................................... 31-32

HDFc Arbitrage Fund ......................................................................... 33-34

HDFc corporate Bond Fund ............................................................... 35

HDFc credit Risk Debt Fund ............................................................... 36-37

HDFc Banking and PSU Debt Fund ..................................................... 38

HDFc Gilt Fund.................................................................................. 39

HDFc Dynamic Debt Fund .................................................................. 40

HDFc Income Fund ........................................................................... 41

HDFc Medium Term Debt Fund .......................................................... 42

HDFc Short Term Debt Fund .............................................................. 43

HDFc Low Duration Fund ................................................................... 44

HDFc Money Market Fund ................................................................. 45

HDFc Floating Rate Debt Fund ........................................................... 46

HDFc Ultra Short Term Fund .............................................................. 47

HDFc Liquid Fund .............................................................................. 48-49

HDFc Overnight Fund ........................................................................ 50

Performance details of schemes managed by respective fund managers ............................................. 51

Scheme performance summary - Regular Plans ................................. 52-56

Scheme performance summary - Direct Plans .................................... 57-64

Performance of category I - FPI Portfolio ........................................... 64

Dividend History ............................................................................... 65-66

Disclaimer ....................................................................................... 67

gOAl BASED SOlUTiONS

WEAlTH CREATiON These schemes aim to increase wealth over the long term by investing predominantly in equity instruments and are suitable for investors with high risk appetite and relatively higher investment horizon.

TAx SAVINGS This scheme is eligible to provide tax deduction under Section 80c and also aims to increase wealth over the long term. This is an ideal solution for investors who would like to create wealth and save tax.

CHilDREN'S FUTURE This scheme aims to help you achieve your specific financial goal of planning for child’s future expenses like higher education, etc.

RETIREMENT PLANNING These schemes aim to help you achieve your specific financial goal of retirement planning.

REgUlAR iNCOME These schemes aim to provide stable income and are ideal for investors with low to medium risk appetite who wish to receive regular income to meet their periodic expenses.

Disclaimer: Investors are requested to note that the above goal based solutions should not be construed as financial planning solution/recommendation by the Fund/AMc. It does not in any manner, indicate or imply either the quality of any particular Scheme or guarantee any specific performance/returns. Such solutions must be tailored to investor’s individual situation and objectives and therefore, investors should consult their financial advisors to ascertain whether a product is suitable for them.

February 2019 5

iNVESTMENT OBjECTiVE

To generate capital appreciation / income from a portfolio, predominantly invested in equity & equity related instruments.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Multi-cap Fund

FUND MANAgER § ¥

Prashant Jain (since June 20, 03)

Total Experience: Over 27 years

iNCEPTiON DATE (Date of Allotment)

January 1, 1995

NAV (AS ON FEBRUARY 28, 2019) NAV PER UNIT (`)

Regular Plan - Growth Option 615.881Regular Plan - Dividend Option 52.003Direct Plan - Growth Option 647.101Direct Plan - Dividend Option 55.428

ASSETS UNDER MANAgEMENT (`) iN CRORE

As on February 28, 2019 20,464.91Average for Month of February, 2019 20,327.72

qUANTiTATiVE DATA

Portfolio Turnover Ratio (Last 1 year) 20.24%

Risk Ration Standard Deviation 4.646%n Beta 1.067n Sharpe Ratio* 0.230

computed for the 3-yr period ended February 28, 2019. Based on month-end NAV. * Risk free rate: 6.35% (Source: FIMMDA MIBOR)

TOTAL ExPENSE RATIO (As on February 28, 2019)Including Additional expenses and Goods and Service Tax on Management Fees

Regular: 2.05% Direct: 1.40%

#BENCHMARK iNDEX: NIFTY 500 (Total Returns Index)

##ADDl. BENCHMARK iNDEX: NIFTY 50 (Total Returns Index)

EXiT lOAD

l In respect of each purchase / switch-in of Units, an exit Load of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment.

l No exit Load is payable if Units are redeemed / switched-out after 1 year from the date of allotment.

For further details, please refer to para ‘Exit Load’ on Pg 51.

PLANS & OPTIONS

Regular Plan, Direct Plan. Under each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility.

MiNiMUM APPliCATiON AMOUNT

Purchase : ` 5,000 and any amount thereafter.Additional Purchase : ` 1,000 and any amount thereafter.

§ Date of migration from Zurich India Mutual Fund (close of business hours - June 19, 03).¥ Dedicated Fund Manager for Overseas Investments: Mr. Amar Kalkundrikar (Total Experience: Over 16 years).

SiP PERFORMANCE ^ - Regular plan - growth OptionSince Inception

SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 2,900.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) 67,037.25 6,103.08 2,298.40 746.67 403.54 119.38 Returns (%) 21.39 14.89 12.49 8.70 7.58 -0.97 Benchmark Returns (%) # 14.42 12.14 11.38 9.03 7.32 -4.56 Additional Benchmark Returns (%) ## N.A. 12.12 11.08 9.58 9.89 1.12

Assuming ` 10,000 invested systematically on the first Business Day of every month over a period of time. cAGR returns are computed after accounting for the cash flow by using xIRR method (investment internal rate of return) for Regular Plan - Growth Option. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital.

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of February 28, 2019 unless otherwise specified.

PERFORMANCE ^ - Regular plan - growth OptionDate Period Scheme

Returns (%)

Benchmark Returns

(%)#

Additional Benchmark

Returns (%) ##

Value of ` 10,000 investedScheme (`) Benchmark

(`)#Additional

Benchmark (`)##

Feb 28, 18 Last 1 Year -1.88 -2.08 4.32 9,812 9,792 10,432Feb 29, 16 Last 3 Years 19.50 16.88 17.20 17,063 15,965 16,099Feb 28, 14 Last 5 Years 15.24 14.37 12.86 20,329 19,576 18,317Jan 01, 95 Since Inception 18.58 11.30 N.A. 615,881 133,032 N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. For performance of other schemes managed by Prashant Jain, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.

This product is suitable for investors who are seeking ~

l to generate long-term capital appreciation / income

l investment predominantly in equity & equity related instruments

Riskometer

Investors understand that their principal will be at moderately high risk

~ Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

^Past performance may or may not be sustained in the future. Load is not taken into consideration for computation of performance.

(An open ended equity scheme investing across large cap, mid cap & small cap stocks)HDFC Equity Fund

Company Industry+ % to NAV

EqUiTY & EqUiTY RElATED

• Infosys Ltd. Software 9.57

• IcIcI Bank Ltd. Banks 9.54

• State Bank of India Banks 9.21

• Larsen and Toubro Ltd. construction Project 8.15

• Reliance Industries Ltd. Petroleum Products 6.13

• HDFc Bank Ltd. Banks 4.62

• NTPc Ltd. Power 4.03

• ITc Ltd. consumer Non Durables 3.80

• Tata consultancy Services Ltd. Software 2.93

• Axis Bank Ltd. Banks 2.87

Power Grid corporation of India Ltd. Power 2.71

Power Finance corporation Ltd. Finance 2.62

Rural electrification corporation Ltd. Finance 2.43

Bank of Baroda Banks 2.26

GAIL (India) Ltd. Gas 2.00

cESc Ltd. Power 1.92

Aurobindo Pharma Ltd. Pharmaceuticals 1.90

Tata Steel Ltd. Ferrous Metals 1.64

Bharat Petroleum corporation Ltd. Petroleum Products 1.56

Vedanta Ltd. Non - Ferrous Metals 1.48

Housing Development Finance corporation Ltd. £ Finance 1.46

cipla Ltd. Pharmaceuticals 1.36

Kalpataru Power Transmission Ltd. Power 1.35

coal India Ltd. Minerals/Mining 1.31

Tata chemicals Ltd. chemicals 1.20

Oracle Financial Services Software Ltd. Software 1.15

Praj Industries Ltd. Industrial capital Goods 1.11

canara Bank Banks 1.07

UPL Ltd. Pesticides 1.02

L&T Technology Services Ltd. Software 0.89

Siemens Ltd. Industrial capital Goods 0.85

Punjab National Bank Banks 0.84

BeML Ltd. Industrial capital Goods 0.75

container corporation of India Ltd. Transportation 0.73cG Power and Industrial Solutions Ltd. Industrial capital Goods 0.54Bharat Dynamics Ltd. Aerospace & Defence 0.53


Time Technoplast Ltd. Industrial Products 0.42Simplex Infrastructures Ltd. construction 0.36Oriental Bank of commerce Banks 0.33Spencers Retail Ltd. Retailing 0.24Hindustan construction company Ltd. construction Project 0.22Ramco Systems Ltd. Software 0.16Reliance Nippon Life Asset Management Ltd. Finance 0.10cESc Ventures Ltd. Software 0.06Sub Total 99.42Preference SharesZee entertainment enterprises Ltd Media & entertainment 0.01Sub Total 0.01Total 99.43cash margin 0.01 cash, cash Equivalents and Net current Assets 0.56

Grand Total 100.00

• Top Ten Holdings, £ co-sponsor

PORTFOLIO

Industry Allocation of Equity Holding (% of Net Assets)

0.010.240.360.420.530.731.021.201.311.481.642.003.253.263.80

6.617.698.3710.01

14.7630.74

0 5 10 15 20 25 30 35

Media & EntertainmentRetailing

ConstructionIndustrial Products

Aerospace & DefenceTransportation

PesticidesChemicals

Minerals/MiningNon - Ferrous Metals

Ferrous MetalsGas

Industrial Capital GoodsPharmaceuticals

Consumer Non DurablesFinance

Petroleum ProductsConstruction Project

PowerSoftware

Banks

KEY FACTS

6 February 2019

This is a simple and performing scheme which is eligible for distribution by new cadre of distributors.


To achieve capital appreciation/income in the long term by primarily investing in undervalued stocks.

There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Value Fund

FUND MANAgER ¥

Miten Lathia (since May 10, 12*)

Total Experience: Over 18 years*The scheme was co-managed by Miten Lathia with chirag Setalvad from May 10, 12 to March 19, 17


February 1, 1994





qUANTiTATiVE DATA








EXiT lOAD




PLANS & OPTIONS




¥ Dedicated Fund Manager for Overseas Investments: Mr. Amar Kalkundrikar (Total Experience: Over 16 years).

SiP PERFORMANCE ^ - Regular plan - growth Option

Since Inception SIP

15 year SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 3,010.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) 41,212.15 6,043.10 2,461.17 758.87 396.48 114.67 Returns (%) 17.37 14.77 13.77 9.35 6.39 -8.20 Benchmark Returns (%) # N.A. 12.14 11.38 9.03 7.32 -4.56 Additional Benchmark Returns (%) ## N.A. 12.12 11.08 9.58 9.89 1.12

Assuming ` 10,000 invested systematically on the first Business Day of every month over a period of time. cAGR returns are computed after accounting for the cash flow by using xIRR method (investment internal rate of return). The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital.


Returns (%)

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 invested

Scheme (`) Benchmark (`)#


(`)##Feb 28, 18 Last 1 Year -6.31 -2.08 4.32 9,369 9,792 10,432Feb 29, 16 Last 3 Years 17.60 16.88 17.20 16,265 15,965 16,099Feb 28, 14 Last 5 Years 16.10 14.37 12.86 21,101 19,576 18,317Feb 01, 94 Since Inception 14.14 N.A. N.A. 276,309 N.A. N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. For performance of other schemes managed by Miten Lathia, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 63.



l to generate long-term capital appreciation / income in the long term

l investment primarily in undervalued stocks

Riskometer


~ Investors should consult their financial advisers if in doubt about whether the product is suitable for them. ^Past performance may or may not be sustained in the future. Load is not taken into consideration for computation of performance.

(An open ended equity scheme following a value investment strategy)HDFC Capital Builder Value Fund



• HDFc Bank Ltd. Banks 9.03• Reliance Industries Ltd. Petroleum Products 4.64• ITc Ltd. consumer Non Durables 4.22• Axis Bank Ltd. Banks 3.70• Vedanta Ltd. Non - Ferrous Metals 3.53• Infosys Ltd. Software 3.48• GAIL (India) Ltd. Gas 3.29• Bharat Petroleum

corporation Ltd. Petroleum Products 3.12• IcIcI Bank Ltd. Banks 3.06• Indusind Bank Ltd. Banks 2.89Kotak Mahindra Bank Ltd. Banks 2.82Persistent Systems Ltd. Software 2.40YeS Bank Ltd. Banks 2.33Housing Development Finance corporation Ltd. £ Finance 2.25Ambuja cements Ltd. cement 2.18Larsen and Toubro Ltd. construction Project 2.18Glenmark Pharmaceuticals Ltd. Pharmaceuticals 2.04Apollo Tyres Ltd. Auto Ancillaries 1.84NTPc Ltd. Power 1.76Mahindra & Mahindra Ltd. Auto 1.71Indostar capital Finance Ltd. Finance 1.49S H Kelkar and company Ltd. consumer Non Durables 1.44Inox Leisure Ltd. Media & entertainment 1.39Aurobindo Pharma Ltd. Pharmaceuticals 1.36cOAL INDIA LTD Minerals/Mining 1.32Bajaj consumer care Ltd. consumer Non Durables 1.28Wipro Ltd. Software 1.26Bharti Airtel Ltd. Telecom - Services 1.21Oracle Financial Services Software Ltd. Software 1.21State Bank of India Banks 1.16VRL Logistics Ltd. Transportation 1.06cipla Ltd. Pharmaceuticals 1.02JK cement Ltd. cement 1.02chambal Fertilizers & chemicals Ltd. Fertilisers 0.97Max Financial Services Ltd. Finance 0.97Repco Home Finance Ltd Finance 0.96Newgen Software Technologies Ltd. Software 0.95Thyrocare Technologies Ltd. Healthcare Services 0.95Trent Ltd. Retailing 0.94Advanced enzyme Technologies Ltd.

consumer Non Durables 0.93

FAG Bearings India Ltd. Industrial Products 0.92Zee entertainment enterprises Ltd. Media & entertainment 0.90Bharat Financial Inclusion Ltd. Finance 0.87Spicejet Ltd. Transportation 0.85


Indoco Remedies Ltd. Pharmaceuticals 0.84Ashoka Buildcon Ltd. construction Project 0.75Solar Industries India Ltd. chemicals 0.73Gujarat Pipavav Port Ltd. Transportation 0.71Dilip Buildcon Ltd. construction 0.70Voltas Ltd. construction Project 0.70Blue Star Ltd. consumer Durables 0.51Bharat Dynamics Ltd. Aerospace & Defence 0.43Wonderla Holidays Ltd. Hotels/Resorts & Other

Recreational Activities 0.43entertainment Network (India) Ltd. Media & entertainment 0.37Sadbhav Infrastructure Project Ltd. (corporate Guarantee of Sadbhav engineering Ltd.) construction Project 0.33Siti Networks Ltd. Media & entertainment 0.27Matrimony.com Ltd. Services 0.17Tata chemicals Ltd. chemicals 0.11NHPc Ltd. Power 0.07Sub Total 96.02cash margin 0.01 cash, cash Equivalents and Net current Assets 3.97

Grand Total 100.00


PORTFOLIO


0.170.430.430.510.700.840.920.940.950.971.211.321.711.831.842.622.933.203.293.533.965.266.547.767.879.30

24.99

0 5 10 15 20 25 30Services

Aerospace & DefenceHotels, Resorts & Other Recreational Activities

Consumer DurablesConstruction

ChemicalsIndustrial Products

RetailingHealthcare Services

FertilisersTelecom - Services

Minerals/MiningAuto

PowerAuto AncillariesTransportation

Media & EntertainmentCement

GasNon - Ferrous MetalsConstruction Project

PharmaceuticalsFinance

Petroleum ProductsConsumer Non Durables

SoftwareBanks

KEY FACTS

February 2019 7


iNVESTMENT OBjECTiVETo provide long-term capital appreciation/income by investing predominantly in Large-cap companies.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Large-cap Fund

FUND MANAgER § ¥

Prashant Jain (since June 20, 03)


iNCEPTiON DATE (Date of Allotment)October 11, 1996

NAV (AS ON FEBRUARY 28, 2019) NAV PER UNIT (`)Regular Plan - Growth Option 456.478Regular Plan - Dividend Option 50.466Direct Plan - Growth Option 475.654Direct Plan - Dividend Option 53.205

ASSETS UNDER MANAgEMENT (`) iN CROREAs on February 28, 2019 15,162.94Average for Month of February, 2019 15,105.93

qUANTiTATiVE DATAPortfolio Turnover Ratio (Last 1 year) 21.88%Risk Ration Standard Deviation 4.309%n Beta 1.019n Sharpe Ratio* 0.239computed for the 3-yr period ended February 28, 2019. Based on month-end NAV. * Risk free rate: 6.35% (Source: FIMMDA MIBOR)

TOTAL ExPENSE RATIO (As on February 28, 2019)Including Additional expenses and Goods and Service Tax on Management FeesRegular: 2.08% Direct: 1.50%


##ADDl. BENCHMARK iNDEX: S&P BSe SeNSex (Total Returns Index)

EXiT lOADl In respect of each purchase / switch-in of Units, an exit Load

of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment.



PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility.

MiNiMUM APPliCATiON AMOUNTPurchase : ` 5,000 and any amount thereafter.Additional Purchase : ` 1,000 and any amount thereafter.

SEgMENT-WiSE BREAK-UP OF EqUiTY HOlDiNg (% OF NET ASSETS)Large cap 88.85%Mid cap 10.10%

§ Date of migration from Zurich India Mutual Fund (close of business hours - June 19, 03).¥ Dedicated Fund Manager for Overseas Investments: Mr. Amar Kalkundrikar (Total Experience: Over 16 years).



l investment predominantly in Large-cap companies

Riskometer




SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 2,690.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) $$ 35,626.18 5,869.68 2,218.51 752.41 407.40 120.52 Returns (%) $$ 19.40 14.44 11.82 9.00 8.23 0.82 Benchmark Returns (%) # N.A. 12.61 11.61 9.63 9.10 -0.86 Additional Benchmark Returns (%) ## 14.11 12.42 11.34 10.03 11.11 2.14



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 investedScheme (`)

$$Benchmark

(`)#Additional

Benchmark (`)##

Feb 28, 18 Last 1 Year 1.09 2.30 6.25 10,109 10,230 10,625Feb 29, 16 Last 3 Years 19.16 17.29 17.54 16,919 16,136 16,240Feb 28, 14 Last 5 Years 14.60 13.75 12.72 19,770 19,050 18,202Oct 11, 96 Since Inception 19.66 N.A. 12.28 556,587 N.A. 133,948

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV). For performance of other schemes managed by Prashant Jain, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.


(An open ended equity scheme predominantly investing in large cap stocks)HDFC Top 100 Fund


EqUiTY & EqUiTY RElATED• Reliance Industries Ltd. Petroleum Products 8.36• IcIcI Bank Ltd. Banks 8.35• Infosys Ltd. Software 7.87• State Bank of India Banks 7.63• HDFc Bank Ltd. Banks 7.20• Larsen and Toubro Ltd. construction Project 6.19• ITc Ltd. consumer Non Durables 4.60• Tata consultancy Services Ltd. Software 4.24• NTPc Ltd. Power 4.13• Axis Bank Ltd. Banks 3.91coal India Ltd. Minerals/Mining 2.60Power Grid corporation of India Ltd Power 2.59Housing Development Finance corporation Ltd.£ Finance 2.48Power Finance corporation Ltd Finance 1.97Hindustan Petroleum corporation Ltd. Petroleum Products 1.87Aurobindo Pharma Ltd. Pharmaceuticals 1.71GAIL (India) Ltd. Gas 1.47Tata Steel Ltd. Ferrous Metals 1.47Rural electrification corporation Ltd. Finance 1.40cESc Ltd. Power 1.25Bharat Petroleum corporation Ltd. Petroleum Products 1.19Tata chemicals Ltd. chemicals 1.19Vedanta Ltd. Non - Ferrous Metals 1.15cipla Ltd. Pharmaceuticals 1.07UPL Ltd. Pesticides 1.06Oil & Natural Gas corporation Ltd. Oil 1.01canara Bank Banks 1.00Bank of Baroda Banks 0.95HcL Technologies Ltd. Software 0.72Tech Mahindra Ltd. Software 0.72Bank of India Banks 0.70Bharat electronics Ltd. Industrial capital Goods 0.67Wipro Ltd. Software 0.67Oracle Financial Services Software Ltd. Software 0.66ABB India Ltd. Industrial capital Goods 0.65Ambuja cements Ltd. cement 0.59Indian Oil corporation Ltd. Petroleum Products 0.54Siemens Ltd. Industrial capital Goods 0.53Punjab National Bank Banks 0.51


container corporation of India Ltd. Transportation 0.46Hindalco Industries Ltd Non - Ferrous Metals 0.45Union Bank of India Banks 0.45Steel Authority Of India Ltd. Ferrous Metals 0.37NHPc Ltd. Power 0.27LIc Housing Finance Ltd. Finance 0.04Lupin Ltd. Pharmaceuticals 0.03Sub Total 98.94Preference SharesZee entertainment enterprises Ltd Media & entertainment 0.01Sub Total 0.01Total 98.95cash, cash Equivalents and Net current Assets 1.05Grand Total 100.00


PORTFOLIO


0.010.460.591.011.061.191.471.601.841.852.602.81

4.605.896.19

8.2411.96

14.8830.70

0 5 10 15 20 25 30 35

Media & EntertainmentTransportation

CementOil

PesticidesChemicals

GasNon - Ferrous Metals

Ferrous MetalsIndustrial Capital Goods

Minerals/MiningPharmaceuticals


Construction ProjectPower

Petroleum ProductsSoftware

Banks

KEY FACTS

8 February 2019

iNVESTMENT OBjECTiVETo provide long-term capital appreciation/income by investing predominantly in Mid-cap companies.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Mid cap Fund

FUND MANAgER ¥

Chirag Setalvad (since June 25, 07)


iNCEPTiON DATE (Date of Allotment)June 25, 2007





#BENCHMARK iNDEX: NIFTY Midcap 100 (Total Returns Index) ##ADDl. BENCHMARK iNDEX: NIFTY 50 (Total Returns Index)







SEgMENT-WiSE BREAK-UP OF EqUiTY HOlDiNg (% OF NET ASSETS)Large cap 4.29%Mid cap 68.50%Small cap 19.47%¥ Dedicated Fund Manager for Overseas Investments: Mr. Amar Kalkundrikar (Total Experience: Over 16 years).


Since Inception SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 1,410.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) 4,157.90 2,961.66 749.73 373.99 111.30 Returns (%) 17.23 17.22 8.86 2.50 -13.27 Benchmark Returns (%) # 12.29 12.39 7.36 0.79 -15.72 Additional Benchmark Returns (%) ## 10.80 11.08 9.58 9.89 1.12


PERFORMANCE ^ - Regular plan - growth Option

Date Period Scheme Returns

(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year -10.69 -14.18 4.32 8,931 8,582 10,432Feb 29, 16 Last 3 Years 16.23 14.35 17.20 15,703 14,953 16,099Feb 28, 14 Last 5 Years 19.32 17.74 12.86 24,200 22,634 18,317Jun 25, 07 Since Inception 14.96 10.85 9.56 50,987 33,342 29,079

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by chirag Setalvad, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.




l investment predominantly in Mid-cap companies

Riskometer




(An open ended equity scheme predominantly investing in mid cap stocks)HDFC Mid Cap Opportunities Fund

Company Industry+ / Rating % to NAV

EqUiTY & EqUiTY RElATED• cholamandalam Investment

& Finance Finance 3.92• Sundram Fasteners Ltd. Auto Ancillaries 3.75• Balkrishna Industries Ltd. Auto Ancillaries 3.58• Torrent Pharmaceuticals Ltd. Pharmaceuticals 3.03• Voltas Ltd. construction Project 2.94• Aarti Industries Ltd. chemicals 2.91• city Union Bank Ltd. Banks 2.88• RBL Bank Ltd. Banks 2.79• Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 2.59• Hexaware Technologies Ltd. Software 2.40exide Industries Ltd. Auto Ancillaries 2.11Tata chemicals Ltd. chemicals 2.04AIA engineering Ltd. Industrial Products 2.02Trent Ltd. Retailing 1.97Apollo Tyres Ltd. Auto Ancillaries 1.95crompton Greaves consumer electrical Ltd. consumer Durables 1.93carborundum Universal Ltd. Industrial Products 1.85SKF India Ltd. Industrial Products 1.82Divis Laboratories Ltd. Pharmaceuticals 1.72Max Financial Services Ltd. Finance 1.71Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.65The Federal Bank Ltd. Banks 1.64VST Industries Ltd. consumer Non Durables 1.63TI Financial Holdings Ltd. Finance 1.58Ipca Laboratories Ltd. Pharmaceuticals 1.47Supreme Industries Ltd. Industrial Products 1.46Whirlpool of India Ltd consumer Durables 1.45Indian Bank Banks 1.44Atul Ltd. chemicals 1.40MRF Ltd. Auto Ancillaries 1.35Niit Technologies Ltd Software 1.27Tube Investments of India Ltd. Auto Ancillaries 1.25Larsen & Toubro Infotech Ltd. Software 1.21KEc International Ltd. construction Project 1.16Edelweiss Financial Services Ltd. Finance 1.15Reliance Nippon Life Asset Management Ltd. Finance 1.09Power Finance corporation Ltd Finance 1.01Blue Star Ltd. consumer Durables 0.99Union Bank of India Banks 0.98Rural electrification corporation Ltd. Finance 0.96Arvind Fashions Ltd. Retailing 0.94FAG Bearings India Ltd. Industrial Products 0.93Solar Industries India Ltd. chemicals 0.90KNR construction Ltd.. construction 0.88Karur Vysya Bank Ltd. Banks 0.81Dilip Buildcon Ltd. construction 0.80Jagran Prakashan Ltd. Media & entertainment 0.78Navneet education Ltd. Media & entertainment 0.77Redington (India) Ltd. Transportation 0.73Delta corp Ltd. Hotels/Resorts & Other

Recreational Activities 0.72Gujarat Fluorochemicals Ltd. Industrial capital Goods 0.72Punjab National Bank Banks 0.69Symphony Ltd. consumer Durables 0.65Bata India Ltd. consumer Durables 0.63Greenlam Industries Ltd. consumer Durables 0.61cummins India Ltd. Industrial Products 0.55

Company Industry+ / Rating % to NAVGreenply Industries Ltd. consumer Durables 0.52Grindwell Norton Ltd. Industrial Products 0.50Vesuvius India Ltd. Industrial Products 0.49Arvind Ltd. Textile Products 0.44Persistent Systems Ltd. Software 0.41Thermax Ltd. Industrial capital Goods 0.40Mahindra Holidays & Resorts Ind Ltd

Hotels/Resorts & Other Recreational Activities 0.36

Vardhman Textiles Ltd. Textiles - cotton 0.35Strides Pharma Science Ltd. Pharmaceuticals 0.23Dhanuka Agritech Ltd. Pesticides 0.20The Anup engineering Ltd. Industrial capital Goods 0.13Oil India Ltd. Oil 0.08Aditya Birla Nuvo Ltd. Services @Aurobindo Pharma Ltd. Pharmaceuticals @Sub Total 92.27Preference SharesZee entertainment enterprises Ltd. Media & entertainment 0.01Sub Total 0.01Total 92.28MONEY MARKET iNSTRUMENTSCD/CPBajaj Finance Ltd. cRISIL - A1+ 1.46Tata capital Financial Services Ltd. cRISIL - A1+ 0.97TMF Holdings Ltd. (Subsidiary of Tata Motors Ltd.) cARE - A1+ 0.97Reliance Industries Ltd. cRISIL - A1+ 0.49Tata Motors Finance Ltd. cARE - A1+ 0.49Sub Total 4.38cash, cash Equivalents and Net current Assets 3.34Grand Total 100.00• Top Ten Holdings, @ Less than 0.01%

PORTFOLIO


0.080.200.350.440.731.251.561.631.68

2.913.674.10

5.296.787.258.10

9.6211.2311.42

13.99

0 2 4 6 810121416Oil

PesticidesTextiles - CottonTextile ProductsTransportation

Industrial Capital GoodsMedia & Entertainment

Consumer Non DurablesConstruction

RetailingHotels, Resorts & Other Recreational Activities

Construction ProjectSoftware

Consumer DurablesChemicals

PharmaceuticalsIndustrial Products

BanksFinance

Auto Ancillaries

KEY FACTS

February 2019 9

iNVESTMENT OBjECTiVETo provide long-term capital appreciation /income by investing predominantly in Small-cap companies.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Small cap Fund

FUND MANAgER § ¥

Chirag Setalvad (since June 28, 14)


iNCEPTiON DATE (Date of Allotment)April 3, 2008



qUANTiTATiVE DATAPortfolio Turnover Ratio (Last 1 year) 15.08%

Risk Ration Standard Deviation 4.625%n Beta 0.606n Sharpe Ratio* 0.272computed for the 3-yr period ended February 28, 2019. Based on month-end NAV. * Risk free rate: 6.35% (Source: FIMMDA MIBOR)


#BENCHMARK iNDEX: NIFTY Smallcap 100 (Total Returns Index)








SEgMENT-WiSE BREAK-UP OF EqUiTY HOlDiNg (% OF NET ASSETS)Large cap 3.65%Mid cap 16.55%Small cap 67.85%

§ Date of migration from Morgan Stanley Mutual Fund (close of business hours - June 27, 14)



Since Inception SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 1,310.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) 3,268.56 2,699.67 828.67 412.19 111.56 Returns (%) 15.86 15.50 12.90 9.02 -12.89 Benchmark Returns (%) # 8.70 8.30 1.08 -7.02 -27.47 Additional Benchmark Returns (%) ## 11.30 11.08 9.58 9.89 1.12




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year -10.93 -28.29 4.32 8,907 7,171 10,432Feb 29, 16 Last 3 Years 22.20 11.83 17.20 18,249 13,985 16,099Feb 28, 14 Last 5 Years 19.35 13.73 12.86 24,226 19,032 18,317Apr 03, 08 Since Inception 13.75 5.77 9.07 40,802 18,438 25,791

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by chirag Setalvad, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.




l investment predominantly in Small-cap companies

Riskometer




(An open ended equity scheme predominantly investing in small cap stocks)HDFC Small Cap Fund

Company Industry+ % to NAVEqUiTY & EqUiTY RElATED• NIIT Technologies Ltd. Software 3.94• Sonata Software Ltd. Software 3.74• Aurobindo Pharma Ltd. Pharmaceuticals 3.65• chambal Fertilizers &

chemicals Ltd. Fertilisers 3.19• Balkrishna Industries Ltd. Auto Ancillaries 3.16• Sharda cropchem Ltd. Pesticides 3.09• NRB Bearing Ltd Industrial Products 2.75• Indian Bank Banks 2.52Gujarat Fluorochemicals Ltd. Industrial capital Goods 2.23KEc International Ltd. construction Project 2.09Firstsource Solutions Ltd Software 2.04Inox Leisure Ltd. Media & entertainment 2.03SKF India Ltd. Industrial Products 2.02Tata Metaliks Ltd. Ferrous Metals 2.01T. V. Today Network Ltd. Media & entertainment 1.87Great eastern Shipping company Ltd. Transportation 1.83eIH Ltd. Hotels/Resorts & Other

Recreational Activities 1.81Vardhman Textiles Ltd. Textiles - cotton 1.76Finolex Industries Ltd. Industrial Products 1.72Repco Home Finance Ltd Finance 1.70Tube Investments of India Ltd. Auto Ancillaries 1.70Vijaya Bank Banks 1.69Atul Ltd. chemicals 1.68chalet Hotels Ltd. Hotels/Resorts & Other

Recreational Activities 1.67carborundum Universal Ltd. Industrial Products 1.61Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 1.57Kalpataru Power Transmission Ltd. Power 1.57KeI Industries Ltd. Industrial Products 1.54Insecticides (India) Ltd. Pesticides 1.37Power Mech Projects Ltd. construction Project 1.27Nilkamal Ltd. Industrial Products 1.24The Federal Bank Ltd. Banks 1.22Advanced enzyme Technologies Ltd.

consumer Non Durables 1.03

Orient Refractories Ltd. Industrial Products 1.02Oriental carbon & chemicals Ltd. chemicals 0.95Redington (India) Ltd. Transportation 0.87IFGL Refractories Ltd. (formarly known as IFGL Exports Ltd.) Industrial Products 0.86Unichem Laboratories Ltd. Pharmaceuticals 0.85LG Balakrishnan & Bros Ltd. Auto Ancillaries 0.84eclerx Services Ltd. Software 0.82PNc Infratech Ltd. construction 0.81Vesuvius India Ltd. Industrial Products 0.77Oriental Bank of commerce Banks 0.75Shaily engineering Plastics Ltd. Industrial Products 0.75Gabriel India Ltd. Auto Ancillaries 0.74Lemon Tree Hotels Ltd. Hotels/Resorts & Other

Recreational Activities 0.74Apar Industries Ltd. Industrial capital Goods 0.72Kirloskar Ferrous Industries Ltd Ferrous Metals 0.71Mcleod Russel India Ltd. consumer Non Durables 0.70Atul Auto Ltd. Auto 0.60Goodyear India Ltd. Auto Ancillaries 0.57Allahabad Bank Banks 0.54Jagran Prakashan Ltd. Media & entertainment 0.52

Company Industry+ % to NAVGNA Axles Ltd. Auto Ancillaries 0.50Greenlam Industries Ltd. consumer Durables 0.45Taj GVK Hotels & Resorts Ltd. Hotels/Resorts & Other

Recreational Activities 0.43Sadbhav engineering Ltd. construction Project 0.40TI Financial Holdings Ltd. Finance 0.34D B corp Ltd. Media & entertainment 0.32Swaraj engines Ltd. Industrial Products 0.31everest Industries Ltd. cement 0.28Merck Ltd Pharmaceuticals 0.27V.S.T Tillers Tractors Ltd. Auto 0.24Greenply Industries Ltd. consumer Durables 0.19Banco Products (I) Ltd. Auto Ancillaries 0.18Titagarh Wagons Ltd. Industrial capital Goods 0.15cG Power and Industrial Solutions Ltd. Industrial capital Goods 0.14Time Technoplast Ltd. Industrial Products 0.14Sarla Performance Fibers Ltd. Textiles - Synthetic 0.13corporation Bank Banks 0.12YeS Bank Ltd. Banks @Sub Total 88.03MONEY MARKET iNSTRUMENTSCD/CP• Bajaj Finance Ltd. cRISIL - A1+ 2.77• United Spirits Ltd. IcRA - A1+ 2.37L&T Housing Finance Ltd. cRISIL - A1+ 1.58Tata capital Financial Services Ltd. cRISIL - A1+ 1.58Sub Total 8.30cash margin 0.13cash, cash Equivalents and Net current Assets 3.54Grand Total 100.00• Top Ten Holdings, @ Less than 0.01%

PORTFOLIO


0.130.280.640.810.841.571.731.762.042.632.702.723.193.243.764.464.744.77

6.226.847.69

10.5414.73

0 2 4 6 8 10 12 14 16

Textiles - SyntheticCement


AutoPower

Consumer Non DurablesTextiles - Cotton

FinanceChemicals

TransportationFerrous Metals

FertilisersIndustrial Capital Goods

Construction ProjectPesticides

Media & EntertainmentPharmaceuticals

Hotels, Resorts & Other Recreational ActivitiesBanks

Auto AncillariesSoftware

Industrial Products

KEY FACTS

10 February 2019

iNVESTMENT OBjECTiVETo generate long term capital appreciation/income from a portfolio, predominantly invested in equity and equity related instruments. There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Large & Mid cap Fund

FUND MANAgER § ¥

Vinay Kulkarni (since June 28, 14)


iNCEPTiON DATE (Date of Allotment)February 18, 1994





#BENCHMARK iNDEX: NIFTY Large Midcap 250 (Total Returns Index)##ADDl. BENCHMARK iNDEX: S&P BSe SeNSex (Total Returns Index)







SEgMENT-WiSE BREAK-UP OF EqUiTY HOlDiNg (% OF NET ASSETS)Large cap 61.17%Mid cap 35.24%Small cap 3.03%§ Date of migration from Morgan Stanley Mutual Fund (close of business hours - June 27, 14)¥ Dedicated Fund Manager for Overseas Investments: Mr. Amar Kalkundrikar (Total Experience: Over 16 years).



(%) $$

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`) $$

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -4.56 -4.71 6.25 9,544 9,529 10,625Feb 29, 16 Last 3 Years 12.83 17.69 17.54 14,363 16,299 16,240Feb 28, 14 Last 5 Years 8.68 17.13 12.72 15,166 22,052 18,202Feb 18, 94 Since Inception 10.36 N.A. 10.86 118,025 N.A. 132,367

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. The Scheme, formerly a large cap fund, has undergone change in Fundamental attributes w.e.f. May 23, 2018 and become a Large and Mid-cap Fund. Accordingly, the Scheme’s benchmark has also changed. Hence, the past performance of the Scheme may not strictly be comparable with that of the new benchmark. $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV. For performance of other schemes managed by Vinay Kulkarni, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57. As TRI data is not available since inception of the scheme, additional benchmark performance is calculated using composite cAGR of S&P BSe SeNSex PRI values from Feb 18, 94 to Aug 18, 96 and TRI values since Aug 19, 96.



l to generate long-term capital appreciation/income

l investment predominantly in Large cap and Mid cap companies

Riskometer



(An open ended equity scheme investing in both large cap and mid cap stocks)HDFC Growth Opportunities Fund



• Infosys Ltd. Software 8.74• State Bank of India Banks 7.90• NTPc Ltd. Power 7.69• IcIcI Bank Ltd. Banks 7.00• Reliance Industries Ltd. Petroleum Products 5.69• ITc Ltd. consumer Non Durables 5.57• HDFc Bank Ltd. Banks 4.10• GAIL (India) Ltd. Gas 3.84• Bharat Petroleum

corporation Ltd. Petroleum Products 3.09• Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 2.61Apollo Tyres Ltd. Auto Ancillaries 2.56Trent Ltd. Retailing 1.99Max Financial Services Ltd. Finance 1.85NHPc Ltd. Power 1.84Prestige estates Projects Ltd. construction 1.75Divis Laboratories Ltd. Pharmaceuticals 1.74Tata Motors Ltd. DVR Auto 1.71Tata Global Beverages Ltd. consumer Non Durables 1.63Gujarat State Petronet Ltd. Gas 1.61Tata chemicals Ltd. chemicals 1.59Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.56castrol India Ltd. Petroleum Products 1.54Mindtree consulting Ltd Software 1.53Info edge (India) Ltd. Software 1.50Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.50exide Industries Ltd. Auto Ancillaries 1.48Vedanta Ltd. Non - Ferrous Metals 1.48Oil India Ltd. Oil 1.39Hindustan Petroleum corporation Ltd. Petroleum Products 1.27Indraprastha Gas Ltd. Gas 1.23canara Bank Banks 1.11Solar Industries India Ltd. chemicals 1.08Shriram Transport Finance company Ltd. Finance 0.96emami Ltd. consumer Non Durables 0.91Reliance Nippon Life Asset Management Ltd. Finance 0.80cESc Ltd. Power 0.79Power Grid corporation of India Ltd Power 0.77Mahanagar Gas Ltd. Gas 0.69Dilip Buildcon Ltd. construction 0.59


NBcc (INDIA) Ltd. construction 0.57Indian Bank Banks 0.44Union Bank of India Banks 0.43Tata Steel Ltd. Ferrous Metals 0.42NLc India Ltd. Power 0.38Reliance Power Ltd Power 0.36Larsen and Toubro Ltd. construction Project 0.16V-Guard Industries Ltd. Industrial capital Goods @Sub Total 99.44cash, cash Equivalents and Net current Assets 0.56

Grand Total 100.00

• Top Ten Holdings

PORTFOLIO


0.16

0.42

1.39

1.48

1.71

1.99

2.61

2.67

2.91

3.61

4.04

4.80

7.37

8.11

11.59

11.77

11.83

20.98

0 5 10 15 20 25

Construction Project

Ferrous Metals

Oil

Non - Ferrous Metals

Auto

Retailing

Hotels, Resorts & Other Recreational Activities

Chemicals

Construction

Finance

Auto Ancillaries

Pharmaceuticals

Gas

Consumer Non Durables

Petroleum Products

Software

Power

Banks

KEY FACTS


SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 3,010.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) $$ 16,077.43 3,504.88 1,782.71 676.25 379.00 115.49 Returns (%) $$ 11.58 8.38 7.69 4.74 3.38 -6.95 Benchmark Returns (%) # N.A. N.A. 13.15 9.94 6.78 -7.28 Additional Benchmark Returns (%) ## 13.33 12.42 11.34 10.03 11.11 2.14


February 2019 11


To generate long term capital appreciation/income by investing in equity & equity related instruments of up to 30 companies.


CATEgORY OF SCHEME: Focused Fund

FUND MANAgER ¥

Vinay Kulkarni (since November 21, 06)



September 17, 2004




As on February 28, 2019 425.79Average for Month of February, 2019 429.40

qUANTiTATiVE DATA








EXiT lOAD




PLANS & OPTIONS






Since Inception SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 1,740.00 1,200.00 600.00 360.00 120.00

Mkt Value As on February 28, 2019 (` ‘000) 3,963.32 1,939.87 670.92 361.44 111.67

Returns (%) 10.62 9.29 4.42 0.26 -12.72

Benchmark Returns (%) # 11.72 11.38 9.03 7.32 -4.56

Additional Benchmark Returns (%) ## 11.97 11.34 10.03 11.11 2.14




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year -12.81 -2.08 6.25 8,719 9,792 10,625

Feb 29, 16 Last 3 Years 13.96 16.88 17.54 14,801 15,965 16,240

Feb 28, 14 Last 5 Years 13.61 14.37 12.72 18,931 19,576 18,202

Sep 17, 04 Since Inception 14.54 14.81 15.07 71,141 73,616 76,125

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by Vinay Kulkarni, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.




l investments in equity & equity related instruments of up to 30 companies

Riskometer




An open ended equity scheme investing in maximum 30 stocks in large-cap, mid-cap and small-cap category (i.e. Multi-Cap)HDFC Focused 30 Fund









• Tata Steel Ltd. Ferrous Metals 5.28

• NHPc Ltd. Power 3.87

• Vedanta Ltd. Non - Ferrous Metals 3.86

• Bharat Petroleum corporation Ltd. Petroleum Products 3.52


Elecon Engineering comapny Ltd. Industrial capital Goods 3.16

Hindustan Petroleum corporation Ltd. Petroleum Products 3.15


KEc International Ltd. construction Project 2.79

Titagarh Wagons Ltd. Industrial capital Goods 2.63

Bharat electronics Ltd. Industrial capital Goods 2.59

Axis Bank Ltd. Banks 2.50


Gujarat Pipavav Port Ltd. Transportation 2.13

PNc Infratech Ltd. construction 2.05

Tata Motors Ltd. DVR Auto 1.65


Transport corporation of India Ltd. Transportation 1.32

Tata Motors Ltd. Auto 0.83

Sub Total 96.69


DEBT & DEBT RElATED

CREDiT EXPOSURE

Au Small Finance Bank Ltd. IND - AA- 0.94

Sub Total 0.94

cash, cash Equivalents and Net current Assets 2.37

Grand Total 100.00


PORTFOLIO


1.55

2.05

2.48

2.79

3.20

3.45

3.86

5.28

6.04

6.67

8.38

9.33

16.18

25.43

0 5 10 15 20 25 30

Minerals/Mining

Construction

Auto


Gas

Transportation


Ferrous Metals


Petroleum Products

Industrial Capital Goods

Software

Power

Banks

KEY FACTS

12 February 2019


To seek long-term capital appreciation/income by investing predominantly in equity and equity related securities of companies engaged in or expected to benefit from the growth and development of infrastructure.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Thematic Fund

FUND MANAgER ¥

Srinivas Rao Ravuri (since March 20, 17)

Total Experience: Over 23 years(The scheme was co-managed by Srinivas Rao Ravuri with Prashant Jain from inception till March 19, 17)


March 10, 2008





qUANTiTATiVE DATA


Risk Ration Standard Deviation 6.327%n Beta 1.365n Sharpe Ratio* 0.048computed for the 3-yr period ended February 28, 2019. Based on month-end NAV. * Risk free rate: 6.35% (Source: FIMMDA MIBOR)



#BENCHMARK iNDEX: NIFTY 500 (Total Returns Index)##ADDl. BENCHMARK iNDEX: NIFTY 50 (Total Returns Index)

EXiT lOAD




PLANS & OPTIONS






Since Inception SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 1,320.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) 1,753.93 1,501.19 563.81 317.01 107.16 Returns (%) 5.04 4.39 -2.45 -8.11 -19.37 Benchmark Returns (%) # 11.61 11.38 9.03 7.32 -4.56 Additional Benchmark Returns (%) ## 11.25 11.08 9.58 9.89 1.12




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year -25.10 -2.08 4.32 7,490 9,792 10,432Feb 29, 16 Last 3 Years 7.95 16.88 17.20 12,579 15,965 16,099Feb 28, 14 Last 5 Years 10.88 14.37 12.86 16,767 19,576 18,317Mar 10, 08 Since Inception 3.86 9.07 8.96 15,161 25,942 25,641

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by Srinivas Rao Ravuri, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 58.




l investment predominantly in equity and equity related securities of companies engaged in or expected to benefit from the growth and development of infrastructure

Riskometer

Investors understand that their principal will be at high risk


(An open ended equity scheme following infrastructure theme)HDFC Infrastructure Fund






• cESc Ltd. Power 4.76

• JMc Projects (India) Ltd. construction 4.35


• Bharat Petroleum corporation Ltd. Petroleum Products 3.74

• Bank of Baroda Banks 3.41

• Texmaco Rail & engineering Ltd. Industrial capital Goods 3.33

• coal India Ltd. Minerals/Mining 2.96

Hindustan construction company Ltd. construction Project 2.83


centum Electronics Ltd. Industrial capital Goods 2.61

Premier explosives Ltd. chemicals 2.51


Dynamatic Technologies Ltd. Auto Ancillaries 2.17

Power Finance corporation Ltd Finance 2.10



Dilip Buildcon Ltd. construction 1.86

J.Kumar Infraprojects Ltd. construction 1.86


Ashoka Buildcon Ltd. construction Project 1.75


B L Kashyap & Sons Ltd. construction 1.28

IRcON International Ltd. construction Project 1.21

Simplex Infrastructures Ltd. construction 1.15

RITeS Ltd. construction Project 1.14


Astra Microwave Products Ltd. Telecom - equipment & Accessories 1.07


Sadbhav Infrastructure Project Ltd. (corporate Guarantee of Sadbhav engineering Ltd.) construction Project 1.04

Gujarat State Petronet Ltd. Gas 1.00


cG Power and Industrial Solutions Ltd. Industrial capital Goods 0.94

MeP Infrastructure Developers Ltd. Transportation 0.72

corporation Bank Banks 0.63

Spencers Retail Ltd. Retailing 0.61


Transformers & Rectifiers India Ltd Industrial capital Goods 0.26

Oriental Bank of commerce Banks 0.25

Grasim Industries Ltd. cement @

Sub Total 95.75


Grand Total 100.00

• Top Ten Holdings, @ Less than 0.01%

PORTFOLIO


0.61

1.00

1.07

1.66

1.79

2.17

2.51

2.62

2.96

3.74

4.74

8.84

10.50

10.65

15.97

24.92

0 5 10 15 20 25 30

Retailing

Gas

Telecom - Equipment & Accessories


Ferrous Metals

Auto Ancillaries

Chemicals

Transportation

Minerals/Mining

Petroleum Products

Finance

Power

Construction



Banks

KEY FACTS

February 2019 13


To provide long term capital appreciation / income from a dynamic mix of equity and debt investments.


CATEgORY OF SCHEME: Balanced Advantage Fund

FUND MANAgER ¥

Prashant Jain (since June 20, 03)§


iNCEPTiON DATE ¤February 01, 1994





qUANTiTATiVE DATAPortfolio Turnover Ratio 15.38%Average Maturity * 3.00 yearsMacaulay Duration * 2.63 yearsModified Duration * 2.40 yearsYield to Maturity * 9.60%

* computed on the invested amount for debt portfolio.



#BENCHMARK iNDEX: NIFTY 50 Hybrid composite Debt 65:35 Index


EXiT lOAD

l In respect of each purchase / switch-in of Units, upto 15% of the units may be redeemed without any exit load from the date of allotment.

l Any redemption in excess of the above limit shall be subject to the following exit load:

n exit load of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment of units.



PLANS & OPTIONS





§ Date of migration of erstwhile HDFc Prudence Fund from Zurich India Mutual Fund (close of business hours - June 19, 03).

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of February 28, 2019 unless otherwise specified. ....contd on next page

Note: ¤ Effective close of business hours of June 1, 2018, HDFc Prudence Fund merged with HDFc Growth Fund (HDFc Balanced Advantage Fund after changes in fundamental attributes). As the portfolio characteristics and the broad investment strategy of HDFc Balanced Advantage Fund is similar to that of erstwhile HDFc Prudence Fund, the track record (i.e. since inception date, dividend history, etc.) and past performance of erstwhile HDFc Prudence Fund has been considered, in line with SEBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.

(An open ended balanced advantage fund)HDFC Balanced Advantage Fund ¤









• Power Grid corporation of India Ltd. Power 3.44

• Power Finance corporation Ltd. Finance 2.79

ITc Ltd. consumer Non Durables 2.78








HDFc Bank Ltd. Banks 1.63


Tata consultancy Services Ltd. Software 1.13





chambal Fertilizers & chemicals Ltd. Fertilisers 0.84

Just Dial Ltd. Software 0.81

Solar Industries India Ltd. chemicals 0.80



Apollo Tyres Ltd. Auto Ancillaries 0.52

NHPc Ltd. Power 0.51




Apar Industries Ltd. Industrial capital Goods 0.39

Ashoka Buildcon Ltd. construction Project 0.38

Savita Oil Technologies Ltd. Petroleum Products 0.35



Mishra Dhatu Nigam Ltd. Ferrous Metals 0.27

Vijaya Bank Banks 0.25

Time Technoplast Ltd. Industrial Products 0.23

Union Bank of India Banks 0.22

Orient cement Ltd. cement 0.20

Steel Authority of India Ltd. Ferrous Metals 0.20

ABB India Ltd. Industrial capital Goods 0.19

Matrimony.com Ltd. Services 0.19

cochin Shipyard Ltd. Industrial capital Goods 0.18

JMc Projects (India) Ltd. construction 0.17


Kirloskar Pneumatic Ltd. Industrial Products 0.16

RITeS Ltd. construction Project 0.15

Oriental Bank of commerce Banks 0.14


Gujarat Industries Power company Ltd. Power 0.13

Reliance Nippon Life Asset Management Ltd. Finance 0.12

S chand and company Ltd. Media & entertainment 0.12


Garden Reach Shipbuilders & engineers Ltd. Aerospace & Defence 0.10

Texmaco Rail & engineering Ltd. Industrial capital Goods 0.10

Future Supply chain Solutions Ltd. Transportation 0.09

Sagar cements Ltd. cement 0.09


J.Kumar Infraprojects Ltd. construction 0.08




Ramco Systems Ltd. Software 0.06

centum Electronics Ltd. Industrial capital Goods 0.05

Syndicate Bank Banks 0.05

Allahabad Bank Banks 0.02

container corporation of India Ltd. Transportation 0.02

Spencers Retail Ltd. Retailing 0.01

Avenue Supermarts Ltd. Retailing @

cESc VENTURES Ltd. Software @

Sub Total 83.05

PORTFOLIOKEY FACTS

14 February 2019


SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 3,010.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) $$ 54,980.19 5,948.29 2,294.00 733.66 392.00 119.10 Returns (%) $$ 19.12 14.59 12.45 7.99 5.63 -1.39 Benchmark Returns (%) # N.A. 10.93 10.13 8.89 8.61 3.65 Additional Benchmark Returns (%) ## N.A. 12.12 11.08 9.58 9.89 1.12



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`) $$

Benchmark (`)#


(`)##Feb 28, 18 Last 1 Year -2.05 5.47 4.32 9,795 10,547 10,432Feb 29, 16 Last 3 Years 16.09 13.92 17.20 15,644 14,785 16,099Feb 28, 14 Last 5 Years 15.03 11.61 12.86 20,146 17,322 18,317Feb 01, 94 Since Inception 18.31 N.A. N.A. 680,056 N.A. N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where a portion of scheme’s investments are made in debt instruments. $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV). For performance of other schemes managed by Prashant Jain, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.





l investments in a mix of equity and debt instruments

Riskometer



Portfolio Classification By Asset Class (%)

n equity 83.05

n credit Exposure 15.74

n Mutual Fund Units 0.03

n cash, cash Equivalents and Net current Assets 1.18

Portfolio Classification By Rating Class (%)

n equity 83.05n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent 3.55n AA+ 8.17n AA/AA- 2.50n A+ & Below 1.52n Mutual Fund Units 0.03n cash, cash Equivalents and Net

current Assets 1.18

(An open ended balanced advantage fund)HDFC Balanced Advantage Fund ¤ .....Contd from previous page


DEBT & DEBT RElATED

CREDiT EXPOSURE

• State Bank of India cARE - AA+ / cRISIL - AA+ 4.82

• Tata Sons Ltd. cRISIL - AAA 3.55

canara Bank cRISIL - AA 1.74

HDFc Bank Ltd. cARE - AA+ 1.70

IcIcI Bank Ltd. IcRA - AA+ 1.18

Punjab National Bank cARE - A+ 1.13

Union Bank of India cARE - AA- 0.76

Axis Bank Ltd. cRISIL - AA+ 0.47


Syndicate Bank cARE - A+ 0.34

Andhra Bank cARE - A+ 0.05

Sub Total 15.74

MUTUAl FUND UNiTS

HDFc SeNSex Exchange Traded Fund 0.03

Sub Total 0.03


Grand Total 100.00


PORTFOLIOIndustry Allocation of Equity Holding (% of Net Assets)

0.010.100.120.190.250.290.390.650.680.840.901.761.912.202.412.452.682.78

4.676.737.518.21

11.0524.27

0 5 10 15 20 25 30Retailing

Aerospace & DefenceMedia & Entertainment

ServicesConstruction

CementIndustrial Products

Auto AncillariesTransportation

FertilisersNon - Ferrous Metals

ChemicalsIndustrial Capital Goods

GasFerrous Metals

Minerals/MiningPharmaceuticals


Petroleum ProductsConstruction Project

PowerSoftware

Banks

February 2019 15


Note: ¤ Effective close of business hours of June 1, 2018, HDFc Balanced Fund merged with HDFc Premier Multi cap Fund (HDFc Hybrid Equity Fund after changes in fundamental attributes). As the portfolio characteristics and the broad investment strategy of HDFc Hybrid Equity Fund is similar to that of erstwhile HDFc Balanced Fund, the track record (i.e. since inception date dividend history, etc) and past performance of erstwhile HDFc Balanced Fund has been considered, in line with SEBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.






• Housing Development Finance corporation Ltd. £ Finance 3.97




• Aurobindo Pharma Ltd. Pharmaceuticals 2.45

Reliance Industries Ltd. Petroleum Products 2.27

State Bank of India Banks 1.73


Aarti Industries Ltd. chemicals 1.50

Indusind Bank Ltd. Banks 1.40

SKF India Ltd. Industrial Products 1.37

Power Grid corporation of India Ltd Power 1.32


Voltas Ltd. construction Project 1.24


Balkrishna Industries Ltd. Auto Ancillaries 1.09



Atul Ltd. chemicals 0.93

Indian Hotels company Ltd. Hotels/Resorts & Other Recreational Activities 0.89



TI Financial Holdings Ltd. Finance 0.80

YeS Bank Ltd. Banks 0.76

Bharti Airtel Ltd. Telecom - Services 0.74

Petronet LNG Ltd. Gas 0.73

Hero Motocorp Ltd. Auto 0.72

Tube Investments of India Ltd. Auto Ancillaries 0.69

Hexaware Technologies Ltd. Software 0.68

NIIT Technologies Ltd. Software 0.67



Mahindra Holidays & Resorts India Ltd.


Torrent Pharmaceuticals Ltd. Pharmaceuticals 0.51

Sadbhav engineering Ltd. construction Project 0.47

Edelweiss Financial Services Ltd. Finance 0.43


VST Industries Ltd. consumer Non Durables 0.41


Vardhman Textiles Ltd. Textiles - cotton 0.40

Allahabad Bank Banks 0.39

Sharda cropchem Ltd. Pesticides 0.39

Tamilnadu Newsprint & Papers Ltd. Paper 0.36

Ipca Laboratories Ltd. Pharmaceuticals 0.35

carborundum Universal Ltd. Industrial Products 0.32

Redington (India) Ltd. Transportation 0.32

Zensar Technologies Ltd. Software 0.32

The Federal Bank Ltd. Banks 0.31



IcIcI Securities Ltd Finance 0.23

Jagran Prakashan Ltd. Media & entertainment 0.22

MM Forgings Ltd. Industrial Products 0.15

Navneet education Ltd. Media & entertainment 0.15

Persistent Systems Ltd. Software 0.14

Greenply Industries Ltd. consumer Durables 0.12

IFB Industries Ltd. consumer Durables 0.11

Atul Auto Ltd. Auto 0.08

Insecticides (India) Ltd. Pesticides 0.05

Sub Total 67.78

DEBT & DEBT RElATED

gOVERNMENT SECURiTiES (CENTRAl/STATE)

7.16 GOI 2023 Sovereign 1.50


















SUB TOTAL 8.21

CREDiT EXPOSURE


• LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 2.38

(An open ended hybrid scheme investing predominantly in equity and equity related instruments)HDFC Hybrid Equity Fund ¤

KEY FACTS PORTFOLIO

INVESTMENT OBjECTiVE

The investment objective of the Scheme is to generate capital appreciation / income from a portfolio, predominantly of equity & equity related instruments. The Scheme will also invest in debt and money market instruments.


CATEgORY OF SCHEME: Aggressive Hybrid Fund

FUND MANAgER ¥

Chirag Setalvad (since April 2, 07) ¤


iNCEPTiON DATE ¤September 11, 2000





qUANTiTATiVE DATA

Portfolio Turnover Ratio (Last 1 year) 8.77%Average Maturity * 3.05 yearsMacaulay Duration * 2.54 yearsModified Duration * 2.38 yearsYield to Maturity * 8.10%

* computed on the invested amount for debt portfolio.





EXiT lOAD

l In respect of each purchase/switch-in of Units, upto 15% of the units may be redeemed without any exit load from the date of allotment.





PLANS & OPTIONS




SEgMENT-WiSE BREAK-UP OF EqUiTY HOlDiNgS (% OF NET ASSETS)

Large cap 48.15%Mid cap 11.58%Small cap 8.01%


16 February 2019


Power Finance corporation Ltd cARE - AAA / cRISIL - AAA / IcRA - AAA 2.36

National Bank for Agri & Rural Dev. cRISIL - AAA 1.63


Housing Development Finance corporation Ltd.£ cRISIL - AAA 1.31

L&T Finance Ltd. cARE - AAA 1.21

Small Industries Development Bank cARE - AAA 1.18

ONGc Petro additions Ltd. (OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 0.93

Rural electrification corporation Ltd.

cARE - AAA / cRISIL - AAA / IND - AAA 0.72

Shriram Transport Finance company Ltd. cRISIL - AA+ 0.70

National Highways Authority of India cARE - AAA 0.58


cholamandalam Investment & Finance IcRA - AA+ 0.35

State Bank of India cRISIL - AA+ 0.23


HDFc Bank Ltd. cRISIL - AAA 0.22

M&M Financial Services Ltd. cARE - AAA 0.21

Tata capital Financial Services Ltd IcRA - AAA 0.17


Oriental Bank of commerce cARE - A+ 0.13

IcIcI Bank Ltd. cARE - AAA 0.11


Hindalco Industries Ltd cRISIL - AA 0.05

Sub Total 21.19

Total 29.40

MUTUAl FUND UNiTS

HDFc NIFTY Exchange Traded Fund 0.68

Sub Total 0.68


gRAND TOTAl 100.00

l Top Ten Holdings, £ co-sponsor


Since Inception SIP

15 year SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 2,220.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) 11,714.68 5,921.46 2,457.69 748.14 392.79 118.39 Returns (%) 15.89 14.54 13.74 8.78 5.76 -2.50 Benchmark Returns (%) # N.A. 10.93 10.13 8.89 8.61 3.65 Additional Benchmark Returns (%) ## 14.31 12.12 11.08 9.58 9.89 1.12




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year -2.50 5.47 4.32 9,750 10,547 10,432Feb 29, 16 Last 3 Years 14.50 13.92 17.20 15,012 14,785 16,099Feb 28, 14 Last 5 Years 15.28 11.61 12.86 20,371 17,322 18,317Sep 11, 00 Since Inception 15.57 N.A. 13.02 144,897 N.A. 95,998

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where a portion of scheme’s investments are made in debt instruments. For performance of other schemes managed by chirag Setalvad, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.



PORTFOLIO


l to generate long-term capital appreciation / income.

l investments predominantly in equity & equity related instruments. The Scheme will also invest in debt and money market instruments.

Riskometer



PRODUCT lABElliNg

PORTFOliO ClASSiFiCATiON BY ASSET ClASS (%)

equity 67.78

G-Sec 8.21

credit Exposure 21.19

Mutual Fund Units 0.68cash, cash Equivalents and Net current Assets 2.14

PORTFOliO ClASSiFiCATiON BY RATiNg ClASS (%)

n equity 67.78n Sovereign 8.21n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent17.49

n AA+ 2.85n AA/AA- 0.05n A+ & Below 0.80n Mutual Fund Units 0.68n cash, cash Equivalents and Net

current Assets2.14

(An open ended hybrid scheme investing predominantly in equity and equity related instruments)HDFC Hybrid Equity Fund ¤ .....Contd from previous page


0.230.320.360.370.400.430.730.740.831.071.171.261.441.611.781.841.962.433.313.663.78

5.435.797.24

19.60

0 5 10 15 20 25

Consumer DurablesTransportation

PaperMedia & Entertainment

Textiles - CottonConstruction

GasTelecom - Services

Non - Ferrous MetalsAuto

Ferrous MetalsIndustrial Capital Goods

Hotels, Resorts & Other Recreational ActivitiesPower

Auto AncillariesIndustrial Products

PesticidesChemicals

PharmaceuticalsConsumer Non Durables

Petroleum ProductsFinance

Construction ProjectSoftware

Banks

February 2019 17


The objective of the Scheme is to generate long term capital appreciation/income by investing in a diversified portfolio of equity & equity related instruments, debt & money market instruments and Gold.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Multi Asset Allocation Fund

FUND MANAgER ¥

Chirag Setalvad (equities) (since April 2, 07)

Total Experience - Over 21 years &Anil Bamboli (Debt) (since August 17, 05)

Total Experience: Over 23 yearsKrishan Kumar Daga (Gold) (since May 23, 18)



August 17, 2005





qUANTiTATiVE DATA

Portfolio Turnover Ratio 107.62%



#BENCHMARK iNDEX: 90% NIFTY 50 Hybrid composite Debt 65:35 Index + 10% Domestic Price of Gold


EXiT lOAD

l In respect of each purchase / switch-in of Units, 15% of the units (“the limit”) may be redeemed without any exit Load from the date of allotment.


t exit Load of 1.00% is payable if units are redeemed / switched out within 12 months from the date of allotment.

l No exit Load is payable if units are redeemed / switched out after 12 months from the date of allotment.


PLANS & OPTIONS






Since Inception SIP

10 year SIP

5 Year SIP

3 Year SIP

1 Year SIP

Total Amount Invested (` ‘000) 1,630.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) 2,955.61 1,789.34 679.36 374.59 117.82 Returns (%) 8.33 7.76 4.92 2.61 -3.38 Benchmark Returns (%) # N.A. N.A. 8.70 8.51 4.85 Additional Benchmark Returns (%) ## 11.01 11.08 9.58 9.89 1.12




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year -2.32 5.98 4.32 9,768 10,598 10,432Feb 29, 16 Last 3 Years 6.73 12.95 17.20 12,157 14,410 16,099Feb 28, 14 Last 5 Years 8.25 10.81 12.86 14,866 16,708 18,317Aug 17, 05 Since Inception 8.57 N.A. 13.12 30,459 N.A. 53,068

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. The Scheme formerly, a debt oriented hybrid fund, has undergone change in Fundamental attributes w.e.f. May 23, 2018 and become a multi asset fund investing in equities, debt and gold. Accordingly, the Scheme’s benchmark has also changed. Hence, the performance of the Scheme from inception till May 22, 2018 may not strictly be comparable with those of the new benchmark and the additional benchmark. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in debt instruments and gold. For performance of other schemes managed by chirag Setalvad (Equities), Anil Bamboli (Debt) and Krishan Kumar Daga (Gold), please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 63.



l to generate long-term capital appreciation/incomel investments in a diversified portfolio of equity & equity

related instruments, debt & money market instruments and Gold

Riskometer





n equity 73.98

n Gold 9.76



n equity 73.98n Gold 9.76n cash, cash Equivalents and Net

current Assets 16.26

(An open ended scheme investing in equity and equity related instruments, debt & money market instruments and gold)HDFC Multi-Asset Fund


0.300.380.400.440.720.810.861.181.711.842.693.12

4.284.414.554.644.86

6.9412.05

15.66

0 2 4 6 8 10 1214 16 18

Non - Ferrous MetalsFerrous Metals

PowerMedia & Entertainment

PharmaceuticalsTelecom - Services

Consumer DurablesTransportation

PesticidesIndustrial Capital Goods

AutoConsumer Non Durables

FinanceIndustrial Products

Auto AncillariesChemicals

Construction ProjectPetroleum Products

SoftwareBanks

KEY FACTS

18 February 2019

Company Industry+ / Rating % to NAV (Hedged & Unhedged)

% exposure of Derivative


• HDFc Bank Ltd. Banks 7.64 0.00

• Reliance Industries Ltd. Petroleum Products 4.10 0.00

• Infosys Ltd. Software 3.93 0.00

• IcIcI Bank Ltd. Banks 3.38 0.00

• Larsen and Toubro Ltd. construction Project 3.25 0.00

• NIIT Technologies Ltd. Software 3.05 0.00

• Housing Development Finance corporation Ltd. £ Finance 2.98 0.00

• Oriental carbon & chemicals Ltd. chemicals 2.75 0.00

• State Bank of India Banks 2.44 0.00

ITc Ltd. consumer Non Durables 2.28 0.00

Ashok Leyland Ltd Auto 2.14 2.14

Sonata Software Ltd. Software 1.98 0.00

Balkrishna Industries Ltd. Auto Ancillaries 1.93 0.00

Tata consultancy Services Ltd. Software 1.91 0.00

Aarti Industries Ltd. chemicals 1.89 0.00

Sharda cropchem Ltd. Pesticides 1.71 0.00

KEc International Ltd. construction Project 1.61 0.00

Gabriel India Ltd. Auto Ancillaries 1.55 0.00

Shaily engineering Plastics Ltd. Industrial Products 1.54 0.00

Rural Electrification corporation Ltd. Finance 1.30 0.00

carborundum Universal Ltd. Industrial Products 1.28 0.00

Bharat Petroleum corporation Ltd. Petroleum Products 1.24 0.00

Gujarat Fluorochemicals Ltd. Industrial capital Goods 1.24 0.00

Tata Motors Ltd. DVR Auto 1.19 0.00

Axis Bank Ltd. Banks 1.18 0.00

Firstsource Solutions Ltd Software 1.18 0.00

Redington (India) Ltd. Transportation 1.18 0.00

Hindustan Petroleum corporation Ltd. Petroleum Products 0.92 0.00

Greenply Industries Ltd. consumer Durables 0.86 0.00

Timken India Ltd. Industrial Products 0.85 0.00



Tata Motors Ltd. Auto 0.84 0.00

VST Industries Ltd. consumer Non Durables 0.84 0.00

Bharti Airtel Ltd. Telecom - Services 0.81 0.00

Vesuvius India Ltd. Industrial Products 0.74 0.00

Indusind Bank Ltd. Banks 0.73 0.00

Ipca Laboratories Ltd. Pharmaceuticals 0.72 0.00

Savita Oil Technologies Ltd. Petroleum Products 0.68 0.00

Hero Motocorp Ltd. Auto 0.66 0.00

Apar Industries Ltd. Industrial capital Goods 0.60 0.00

Banco Products (I) Ltd. Auto Ancillaries 0.55 0.00

Suprajit engineering Ltd. Auto Ancillaries 0.52 0.00

Jagran Prakashan Ltd. Media & entertainment 0.44 0.00

Power Grid corporation of India Ltd Power 0.40 0.00

Tata Steel Ltd. Ferrous Metals 0.38 0.00

Vedanta Ltd. Non - Ferrous Metals 0.30 0.00

Union Bank of India Banks 0.29 0.00

Sub Total 73.98

DEBT & DEBT RElATED

gOlD

• Gold Bar 1 Kg (0.995 purity) NA - NA 9.76

Sub Total 9.76

MUTUAl FUND UNiTS

HDFc Gold Exchange Traded Fund 9.76

Sub Total 9.76

Short Term Deposits as margin for Futures & Options 2.72


Grand Total 100.00


Outstanding exposure in derivative instruments (` in crore) 3.16

Hedged position in Equity & Equity related instruments

Outstanding derivative exposure (% age) 2.15


(An open ended scheme investing in equity and equity related instruments, debt & money market instruments and gold)HDFC Multi-Asset Fund .....Contd from previous page

PORTFOLIO

February 2019 19

iNVESTMENT OBjECTiVEThe investment objective of HDFc NIFTY 50 ETF is to generate returns that are commensurate with the performance of the NIFTY 50 Index, subject to tracking error.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Exchange Traded Fund

FUND MANAgERKrishan Kumar Daga (since December 09, 15)


iNCEPTiON DATE (Date of Allotment)December 09, 2015

NAV (AS ON FEBRUARY 28, 2019) NAV PER UNIT (`)Growth Option 1,120.80

ASSETS UNDER MANAgEMENT j (`) iN CROREAs on February 28, 2019 268.08Average for Month of February, 2019 261.08


TRACKiNg ERRORAnnualised tracking error is calculated based on daily rolling returns for the last 12 months: 0.05%

TOTAL ExPENSE RATIO (As on February 28, 2019)Including Additional expenses and Goods and Service Tax on Management FeesHDFc NIFTY 50 ETF 0.05%

#BENCHMARK iNDEX: NIFTY 50 (Total Returns Index)##ADDl. BENCHMARK iNDEX: S&P BSe SeNSex (Total Returns Index)

EXiT lOADFor Creation Unit Size:l No exit load will be levied on redemptions made by

Authorised Participants / Large Investors directly with the Fund in creation Unit Size.

For other than Creation Unit Size:l N.A. The Units of HNETF in other than creation Unit Size cannot

be directly redeemed with the Fund. These Units can be redeemed (sold) on a continuous basis on

the NSe and BSe during the trading hours on all trading days. Refer SID for further details.For further details, please refer to para ‘Exit Load’ on Pg 51.

PLANS & OPTIONSHDFc NIFTY 50 ETF. Presently the Scheme does not offer any Plans / Options for investmentMiNiMUM APPliCATiON AMOUNT (Under each Plan / Option)Authorised Participants / large investors: Application for subscription of HNETF Units in creation Unit Size can be made either: (i) in exchange of the Portfolio Deposit; or (ii) by depositing basket of securities comprising NIFTY 50 Index Each creation Unit Size will consist of 4,000 Units of HNETF and 1 Unit of HNETF will be approximately equal to 1/10th of the value of NIFTY 50 Index. Other investors (including Authorised Participants and large investors): Units of HNETF can be subscribed (in lots of 1 Unit) during the trading hours on all trading days on the NSe and BSe on which the Units will be listed.

Face Value per Unit: ` 761.25, + Industry classification as recommended by AMFI, Data is as of February 28, 2019 unless otherwise specified.

PERFORMANCE *^


(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 4.31 4.32 6.25 10,431 10,432 10,625

Feb 29, 16 Last 3 Years 17.08 17.20 17.54 16,050 16,099 16,240

Dec 09, 15 Since Inception 12.75 12.89 13.23 14,723 14,785 14,927

Returns are compounded annualized (cAGR). * The Scheme does not offer any Plans/Options. The Scheme is in existence for more than 1 year but less than 5 years. For performance of other schemes managed by Krishan Kumar Daga, please refer page 51.


l returns that are commensurate with the performance of the NIFTY 50, subject to tracking errors over long term

l investment in equity securities covered by the NIFTY 50

Riskometer



j Includes investments made by the schemes of HDFc Mutual Fund aggregating to Rs. 144.50 crores

(An open ended scheme replicating / tracking NIFTY 50 index)HDFC NIFTY 50 ETF





• Housing Development Finance corporation Ltd.£ Finance 7.02





• Kotak Mahindra Bank Ltd. Banks 3.75



Hindustan Unilever Ltd. consumer Non Durables 2.86


Maruti Suzuki India Ltd. Auto 2.10


Asian Paints Ltd. consumer Non Durables 1.47

Bajaj Finance Ltd. Finance 1.45

Mahindra & Mahindra Ltd. Auto 1.39

HcL Technologies Ltd. Software 1.36

Tech Mahindra Ltd. Software 1.21

Sun Pharmaceutical Industries Ltd. Pharmaceuticals 1.14

NTPc Ltd. Power 1.10

Oil & Natural Gas corporation Ltd. Oil 1.06

Titan company Ltd. consumer Durables 0.99




Wipro Ltd. Software 0.97

UltraTech cement Ltd. cement 0.92

Bajaj Auto Ltd. Auto 0.91

Bajaj Finserv Ltd Finance 0.90



Indian Oil corporation Ltd. Petroleum Products 0.81



Dr Reddys Laboratories Ltd. Pharmaceuticals 0.74





Grasim Industries Ltd. cement 0.71

Hindalco Industries Ltd Non - Ferrous Metals 0.66

JSW Steel Ltd Ferrous Metals 0.66



eicher Motors Ltd. Auto 0.63

Zee entertainment enterprises Ltd Media & entertainment 0.60

Adani Ports & Special economic Zone Transportation 0.59

Bharti Infratel Ltd. Telecom - equipment & Accessories 0.58

Indiabulls Housing Finance Ltd. Finance 0.50


Sub Total 99.89


Grand Total 100.00


PORTFOLIO


0.580.590.600.710.740.890.970.991.061.391.531.632.072.533.69

6.579.819.87

11.5814.82

27.27

0 5 10 15 20 25 30

Telecom - Equipment & AccessoriesTransportation

Media & EntertainmentGas

PesticidesMinerals/Mining

Telecom - ServicesConsumer Durables

OilNon - Ferrous Metals

Ferrous MetalsCement

PowerPharmaceuticals

Construction ProjectAuto



Banks

KEY FACTS

20 February 2019


EqUiTY & EqUiTY RElATED• HDFc Bank Ltd. Banks 10.39• Reliance Industries Ltd. Petroleum Products 9.81• Housing Development

Finance corporation Ltd.£ Finance 7.07• Infosys Ltd. Software 6.50• ITc Ltd. consumer Non Durables 5.51• IcIcI Bank Ltd. Banks 5.25• Tata consultancy Services Ltd. Software 4.85• Kotak Mahindra Bank Ltd. Banks 3.77• Larsen and Toubro Ltd. construction Project 3.72• Axis Bank Ltd. Banks 2.93Hindustan Unilever Ltd. consumer Non Durables 2.88State Bank of India Banks 2.35Maruti Suzuki India Ltd. Auto 2.11Indusind Bank Ltd. Banks 1.76Asian Paints Ltd. consumer Non Durables 1.48Bajaj Finance Ltd. Finance 1.46Mahindra & Mahindra Ltd. Auto 1.40HcL Technologies Ltd. Software 1.37Tech Mahindra Ltd. Software 1.21Sun Pharmaceutical Industries Ltd. Pharmaceuticals 1.14NTPc Ltd. Power 1.11Oil & Natural Gas corporation Ltd. Oil 1.07Titan company Ltd. consumer Durables 1.00YeS Bank Ltd. Banks 1.00Bharti Airtel Ltd. Telecom - Services 0.98Power Grid corporation of India Ltd Power 0.98Wipro Ltd. Software 0.97UltraTech cement Ltd. cement 0.93Bajaj Auto Ltd. Auto 0.92Bajaj Finserv Ltd Finance 0.91coal India Ltd. Minerals/Mining 0.89Tata Steel Ltd. Ferrous Metals 0.88Indian Oil corporation Ltd. Petroleum Products 0.82Hero Motocorp Ltd. Auto 0.79Tata Motors Ltd. Auto 0.75UPL Ltd. Pesticides 0.75Dr Reddys Laboratories Ltd. Pharmaceuticals 0.74Vedanta Ltd. Non - Ferrous Metals 0.73GAIL (India) Ltd. Gas 0.72


Grasim Industries Ltd. cement 0.71Hindalco Industries Ltd Non - Ferrous Metals 0.67cipla Ltd. Pharmaceuticals 0.66JSW Steel Ltd Ferrous Metals 0.66eicher Motors Ltd. Auto 0.64Bharat Petroleum corporation Ltd. Petroleum Products 0.63Zee entertainment enterprises Ltd Media & entertainment 0.61Adani Ports & Special economic Zone Transportation 0.60Bharti Infratel Ltd. Telecom - equipment

& Accessories 0.58Indiabulls Housing Finance Ltd. Finance 0.51Hindustan Petroleum corporation Ltd. Petroleum Products 0.39Sub Total 100.56cash, cash Equivalents and Net current Assets -0.56Grand Total 100.00• Top Ten Holdings, £ co-sponsor


The investment objective of the Scheme is to generate returns that are commensurate with the performance of the NIFTY 50 Index, subject to tracking errors.


CATEgORY OF SCHEME: Index Fund

FUND MANAgER

Krishan Kumar Daga (since October 19, 15)



July 17, 2002


Regular Plan - Growth Option 97.8698Direct Plan - Growth Option 98.9045



qUANTiTATiVE DATA


TRACKiNg ERROR

Annualised tracking error is calculated based on daily rolling returns for the last 12 months: 0.11%





EXiT lOAD

l In respect of each purchase / switch-in of Units, an exit Load of 0.25% is payable if Units are redeemed / switched-out within 3 days from the date of allotment.

l No exit load is payable if units are redeemed / switched out after 3 days from the date of allotment.


PLANS & OPTIONS

Regular Plan, Direct Plan. Each Plan offers Growth Option only.




Since Inception SIP

15 year SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 2,000.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) 5,861.90 4,175.92 2,050.87 754.50 414.54 120.46 Returns (%) 11.81 10.46 10.34 9.12 9.41 0.72 Benchmark Returns (%) # 13.84 12.12 11.08 9.58 9.89 1.12 Additional Benchmark Returns (%) ## 14.29 12.42 11.34 10.03 11.11 2.14




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 4.03 4.32 6.25 10,403 10,432 10,625Feb 29, 16 Last 3 Years 16.61 17.20 17.54 15,857 16,099 16,240Feb 28, 14 Last 5 Years 12.37 12.86 12.72 17,921 18,317 18,202Jul 17, 02 Since Inception 14.48 16.80 16.76 94,780 132,281 131,634

Returns greater than 1 year period are compounded annualized (cAGR). Since inception returns are calculated on ` 10.3260 (allotment price). For performance of other schemes managed by Krishan Kumar Daga, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.



l returns that are commensurate with the performance of the NIFTY 50, subject to tracking errors over long term

l investment in equity securities covered by the NIFTY 50

Riskometer



(An open ended scheme replicating / tracking NIFTY 50 index)HDFC Index Fund - NIFTY 50 Plan

PORTFOLIO


0.580.600.610.720.750.890.981.001.071.401.541.642.092.543.72

6.619.879.95

11.6514.90

27.45

0 5 10 15 20 25 30

Telecom - Equipment & AccessoriesTransportation

Media & EntertainmentGas

PesticidesMinerals/Mining

Telecom - ServicesConsumer Durables

OilNon - Ferrous Metals

Ferrous MetalsCement

PowerPharmaceuticals

Construction ProjectAuto



Banks

KEY FACTS

February 2019 21

iNVESTMENT OBjECTiVEThe investment objective of HDFc SENSEx ETF is to generate returns that are commensurate with the performance of the S&P BSe SeNSex Index, subject to tracking errors.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Exchange Traded Fund

FUND MANAgERKrishan Kumar Daga (since December 09, 15)


iNCEPTiON DATE (Date of Allotment)December 09, 2015

NAV (AS ON FEBRUARY 28, 2019) NAV PER UNIT (`)Growth Option 3,738.28

ASSETS UNDER MANAgEMENT j (`) iN CROREAs on February 28, 2019 75.08Average for Month of February, 2019 74.07


TRACKiNg ERRORAnnualised tracking error is calculated based on daily rolling returns for the last 12 months: 0.02%

TOTAL ExPENSE RATIO (As on February 28, 2019)Including Additional expenses and Goods and Service Tax on Management FeesHDFc SeNSex ETF 0.05%

#BENCHMARK iNDEX: S&P BSe SeNSex (Total Returns Index)##ADDl. BENCHMARK iNDEX: NIFTY 50 (Total Returns Index)

EXiT lOADFor Creation Unit Size:l No exit load will be levied on redemptions made by

Authorised Participants / Large Investors directly with the Fund in creation Unit Size.

For other than Creation Unit Size:l N.A. The Units of HSxETF in other than creation Unit Size cannot

be directly redeemed with the Fund. These Units can be redeemed (sold) on a continuous basis on

the NSe and BSe during the trading hours on all trading days. Refer SID for further details.For further details, please refer to para ‘Exit Load’ on Pg 51.

PLANS & OPTIONSHDFc SENSEx ETF. Presently the Scheme does not offer any Plans / Options for investment

MiNiMUM APPliCATiON AMOUNT (Under each Plan / Option)Authorised Participants / large investors: Application for subscription of HSxETF Units in creation Unit Size can be made either: (i) in exchange of the Portfolio Deposit; or (ii) by depositing basket of securities comprising S&P BSe

SeNSex IndexEach creation Unit Size will consist of 1,000 Units of HSxETF and 1 Unit of HSxETF will be approximately equal to 1/10th of the value of S&P BSe SeNSex Index. Other investors (including Authorised Participants and large investors): Units of HSxETF can be subscribed (in lots of 1 Unit) during the trading hours on all trading days on the NSe and BSe on which the Units will be listed.

Face Value per Unit: ` 2,503.61, + Industry classification as recommended by AMFI, Data is as of February 28, 2019 unless otherwise specified.

PERFORMANCE *^


(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 6.20 6.25 4.32 10,620 10,625 10,432

Feb 29, 16 Last 3 Years 17.63 17.54 17.20 16,274 16,240 16,099


Returns are compounded annualized (cAGR). * The Scheme does not offer any Plans/Options. The Scheme is in existence for more than 1 year but less than 5 years. For performance of other schemes managed by Krishan Kumar Daga, please refer page 51.


l returns that are commensurate with the performance of the S&P BSe SeNSex, subject to tracking errors over long term

l investment in equity securities covered by the S&P BSe SeNSex

Riskometer



j Includes investments made by the schemes of HDFc Mutual Fund aggregating to Rs. 28.62 crores

(An open ended scheme replicating / tracking S&P BSE SENSEX index)HDFC SENSEX ETF



































Sub Total 99.92


Grand Total 100.00


PORTFOLIO


0.86

0.86

1.05

1.15

1.15

1.32

2.37

4.33

7.17

10.40

10.92

11.59

14.99

31.76

0 5 10 15 20 25 30 35

Minerals/Mining


Ferrous Metals

Oil

Telecom - Services

Pharmaceuticals

Power


Auto

Finance

Petroleum Products


Software

Banks

KEY FACTS

22 February 2019


The investment objective of the Scheme is to generate returns that are commensurate with the performance of the S&P BSe SeNSex Index, subject to tracking errors.


CATEgORY OF SCHEME: Index Fund

FUND MANAgER

Krishan Kumar Daga (since October 19, 15)



July 17, 2002


Regular Plan - Growth Option 316.9954Direct Plan - Growth Option 320.7024



qUANTiTATiVE DATA


TRACKiNg ERROR

Annualised tracking error is calculated based on daily rolling returns for the last 12 months: 0.09%



#BENCHMARK iNDEX: S&P BSe SeNSex (Total Returns Index)


EXiT lOAD

l In respect of each purchase / switch-in of Units, an exit Load of 0.25% is payable if Units are redeemed / switched-out within 3 days from the date of allotment.

l No exit load is payable if units are redeemed / switched out after 3 days from the date of allotment.


PLANS & OPTIONS

Regular Plan, Direct Plan. Each Plan offers Growth Option only.




Since Inception SIP

15 year SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 2,000.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) 6,032.23 4,271.09 2,078.88 763.49 421.73 121.04 Returns (%) 12.11 10.73 10.60 9.59 10.59 1.62 Benchmark Returns (%) # 14.29 12.42 11.34 10.03 11.11 2.14 Additional Benchmark Returns (%) ## 13.84 12.12 11.08 9.58 9.89 1.12




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 5.70 6.25 4.32 10,570 10,625 10,432Feb 29, 16 Last 3 Years 17.05 17.54 17.20 16,038 16,240 16,099Feb 28, 14 Last 5 Years 12.20 12.72 12.86 17,783 18,202 18,317Jul 17, 02 Since Inception 14.75 16.76 16.80 98,565 131,634 132,281

Returns greater than 1 year period are compounded annualized (cAGR). Since inception returns are calculated on ` 32.1610 (allotment price). For performance of other schemes managed by Krishan Kumar Daga, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.



l returns that are commensurate with the performance of the S&P BSe SeNSex, subject to tracking errors over long term.

l investment in equity securities covered by the S&P BSe SeNSex.

Riskometer



Note: Effective close of business hours of May 25, 2018, HDFc Index Fund - SENSEx Plan (the Scheme) underwent changes in Fundamental Attributes and HDFc Index Fund - SENSEx Plus Plan was merged therein. As the portfolio structuring of the Scheme is continued, its past performance is provided, in line with SeBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.

(An open ended scheme replicating / tracking S&P BSE SENSEX index)HDFC Index Fund - SENSEX Plan



































Sub Total 99.87


Grand Total 100.00


PORTFOLIO


0.86

0.86

1.05

1.15

1.15

1.32

2.37

4.33

7.17

10.40

10.91

11.59

14.98

31.73

0 5 10 15 20 25 30 35

Minerals/Mining


Ferrous Metals

Oil

Telecom - Services

Pharmaceuticals

Power


Auto

Finance

Petroleum Products


Software

Banks

KEY FACTS

February 2019 23


To generate capital appreciation / income from a portfolio, comprising predominantly of equity & equity related instruments.


CATEgORY OF SCHEME: equity Linked Savings Scheme

FUND MANAgER ¥

Vinay Kulkarni (since November 21, 06)



March 31, 1996





qUANTiTATiVE DATA








EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Under each Plan : Growth & Dividend. The Dividend Option offers Dividend Payout facility.


Purchase : ` 500 and in multiples of ` 500 thereafter.Additional Purchase : ̀ 500 and in multiples of ̀ 500 thereafter.

lOCK-iN PERiOD

3 years from the date of allotment of the respective Units



SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 2,750.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) $$ 61,509.05 5,342.95 2,134.58 699.80 379.35 114.91 Returns (%) $$ 22.46 13.35 11.10 6.10 3.44 -7.84 Benchmark Returns (%) # 14.76 12.14 11.38 9.03 7.32 -4.56 Additional Benchmark Returns (%) ## 13.63 12.12 11.08 9.58 9.89 1.12



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 investedScheme (`)

$$Benchmark

(`)#Additional

Benchmark (`)##

Feb 28, 18 Last 1 Year -7.99 -2.08 4.32 9,201 9,792 10,432Feb 29, 16 Last 3 Years 16.16 16.88 17.20 15,673 15,965 16,099Feb 28, 14 Last 5 Years 13.83 14.37 12.86 19,122 19,576 18,317Mar 31, 96 Since Inception 23.32 13.60 12.32 1,223,061 186,223 143,718

Returns greater than 1 year period are compounded annualized (cAGR). $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV). For performance of other schemes managed by Vinay Kulkarni, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57. As TRI data is not available since inception of the scheme, additional benchmark performance is calculated using composite cAGR of NIFTY 50 PRI values from Mar 29, 96 (Data for March 31, 96 is not available) to Jun 29, 99 and TRI values since Jun 30, 99. As NIFTY 500 TRI data is not available for March 31, 96, benchmark performance is calculated from March 29, 96.




l investment predominantly of equity & equity related instruments

Riskometer



(An open ended equity linked savings scheme with a statutory lock in of 3 years and tax benefit)HDFC TaxSaver










• GAIL (India) Ltd. Gas 5.37


• Vedanta Ltd. Non - Ferrous Metals 3.00





Oracle Financial Services Software Ltd. Software 2.13




L&T Technology Services Ltd. Software 1.13


Solar Industries India Ltd. chemicals 1.02







eclerx Services Ltd. Software 0.69


Max Financial Services Ltd. Finance 0.57

Persistent Systems Ltd. Software 0.46

Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.45



ITD cementation India Ltd. construction 0.31



Sadbhav Infrastructure Project Ltd. (corporate Guarantee of Sadbhav engineering Ltd.) construction Project 0.27


HSIL Ltd. consumer Durables 0.24


MPS Ltd. consumer Non Durables 0.06

Siti Networks Ltd. Media & entertainment 0.02

Nestle India Ltd. consumer Non Durables @

Sub Total 96.26cash, cash Equivalents and Net current Assets 3.74

Grand Total 100.00


PORTFOLIO


0.020.200.240.310.570.740.871.021.851.902.873.00

4.664.905.37

6.8710.05

11.3813.41

26.03

0 5 10 15 20 25 30

Media & EntertainmentAuto Ancillaries


FinanceMinerals/Mining

TransportationChemicals

AutoIndustrial Capital Goods

Ferrous MetalsNon - Ferrous Metals

Consumer Non DurablesPharmaceuticals

GasConstruction ProjectPetroleum Products

PowerSoftware

Banks

KEY FACTS

24 February 2019


To generate capital appreciation / income from a portfolio of equity & equity related instruments and debt and money market instruments.


CATEgORY OF SCHEME: children’s Fund

FUND MANAgER ¥

Chirag Setalvad (since April 2, 07)

Total Experience - Over 21 years


March 2, 2001


Regular Plan 115.226Direct Plan 121.114



qUANTiTATiVE DATA

Portfolio Turnover Ratio (Last 1 year) 10.30%Average Maturity * 2.47 yearsMacaulay Duration * 1.95 yearsModified Duration * 1.82 yearsYield to Maturity * 8.13%* computed on the invested amount for debt portfolio.





EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan.



lOCK-iN PERiOD

Fresh investments by investors including SiP/ STP registrations, etc (effective May 23, 2018):Lock-in period will be compulsory. Lock-in period shall be earlier ofl 5 Years from the date of allotment; orl Until the Unit holder (being the beneficiary child) attains

the age of majority (i.e. completion of 18 years)

(¥) Dedicated Fund Manager for Overseas Investments:Mr. Amar Kalkundrikar (Total Experience: Over 16 years).

(Ω) Eligibility (of Unit holder) : children less than 18 years of age as on the date of investment by the Investor / Applicant are eligible as Unit holders in the Scheme. (π) Personal Accident Insurance cover for Parent / Legal Guardian (upto the age of 80 years) of the Unit holder, equivalent to 10 times the cost value of the outstanding Units held by the Unit holder under all the applications / account statements / folios, subject to a maximum amount of ` 10 lakhs per Unit holder. The insurance premium in respect of the personal accident insurance cover will be borne by the AMc. This accident insurance cover is subject to conditions of the group personal accident insurance policy.


[An open ended fund for investment for children having a lock-in for at 5 years or till the child attains age of majority (whichever is earlier)] ΩπHDFC Children's Gift Fund










Niit Technologies Ltd. Software 2.00

Britannia Industries Ltd. consumer Non Durables 1.93




cholamandalam Investment & Finance company Ltd. Finance 1.54


Motherson Sumi Systems Ltd. Auto Ancillaries 1.34


FAG Bearings India Ltd. Industrial Products 1.18




AIA engineering Ltd. Industrial Products 1.04

Finolex Industries Ltd. Industrial Products 0.98



Larsen & Toubro Infotech Ltd. Software 0.90

Supreme Industries Ltd. Industrial Products 0.90


century Plyboards (India) Ltd. consumer Durables 0.86

Sonata Software Ltd. Software 0.81

eIH Ltd. Hotels/Resorts & Other Recreational Activities 0.73

Mahindra Holidays & Resorts Ind Ltd








VST Industries Ltd. consumer Non Durables 0.65

Indian Bank Banks 0.62



Vesuvius India Ltd. Industrial Products 0.58

Swaraj engines Ltd. Industrial Products 0.56




Blue Star Ltd. consumer Durables 0.48

Navneet education Ltd. Media & entertainment 0.47

Apollo Tyres Ltd. Auto Ancillaries 0.36

V.S.T Tillers Tractors Ltd. Auto 0.36


eclerx Services Ltd. Software 0.31


Nilkamal Ltd. Industrial Products 0.29

Mcleod Russel India Ltd. consumer Non Durables 0.28



Jyoti Structures Ltd. Power 0.01

Sub Total 65.53

DEBT & DEBT RElATED











PORTFOLIOKEY FACTS

February 2019 25


Since Inception SIP 15 year SIP 10 year SIP 5 Year SIP 3 Year SIP 1 Year SIP

Total Amount Invested (` ‘000) 2,160.00 1,800.00 1,200.00 600.00 360.00 120.00

Mkt Value As on February 28, 2019 (` ‘000) $ 10,516.72 5,926.34 2,540.33 762.21 403.16 119.53

Returns (%) $ 15.63 14.55 14.36 9.52 7.52 -0.73

Benchmark Returns (%) # N.A. 10.93 10.13 8.89 8.61 3.65

Additional Benchmark Returns (%) ## 14.37 12.12 11.08 9.58 9.89 1.12

Assuming ̀ 10,000 invested systematically on the first Business Day of every month over a period of time. cAGR returns are computed after accounting for the cash flow by using xIRR method (investment internal rate of return) for Regular Plan - Growth Option. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. N.A. Not Available.



(%) $

Benchmark Returns

(%)#


Returns(%) ##


Scheme (`) $

Benchmark (`)#

Additional Benchmark(`)##

Feb 28, 18 Last 1 Year 0.19 5.47 4.32 10,019 10,547 10,432

Feb 29, 16 Last 3 Years 15.28 13.92 17.20 15,320 14,785 16,099

Feb 28, 14 Last 5 Years 14.37 11.61 12.86 19,579 17,322 18,317

Mar 02, 01 Since Inception 16.22 N.A. 14.07 149,794 N.A. 106,997

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where a portion of scheme’s investments are made in debt instruments. $ Adjusted for Bonus units declared under the Scheme. For performance of other schemes managed by chirag Setalvad, please refer page 48. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 57.


equity 65.53

G-Sec 7.56

credit Exposure 21.40cash, cash Equivalents and Net current Assets 5.51



l capital appreciation over long term.

l investment in equity and equity related instruments as well as debt and money market instruments.

Riskometer




equity 65.53Sovereign 7.56

AAA/AAA(SO)/A1+/A1+(SO) & equivalent 15.99AA+ 5.41cash, cash Equivalents and Net current Assets 5.51

[An open ended fund for investment for children having a lock-in for at 5 years or till the child attains age of majority (whichever is earlier)] ΩπHDFC Children's Gift Fund .....Contd from previous page



Sub Total 7.56

CREDiT EXPOSURE

• Tata capital Financial Services Ltd. IcRA - AAA 4.52

• Power Finance corporation Ltd.

cARE - AAA / cRISIL - AAA 3.95

• L&T Finance Ltd. cARE - AAA 3.93

• Axis Bank Ltd. cRISIL - AA+ 3.81

M&M Financial Services Ltd. IND - AAA 1.58


Tata Sons Ltd. cRISIL - AAA 1.42

Hero Fincorp Ltd. IcRA - AA+ 1.17

HDB Financial Services Ltd. cRISIL - AAA 0.59

State Bank of India cRISIL - AA+ 0.43

Sub Total 21.40

Total 28.96


Grand Total 100.00



0.50

0.51

0.62

0.67

0.70

0.71

0.72

0.96

1.39

1.66

2.12

2.31

2.86

3.43

4.19

4.57

6.80

7.36

9.72

13.73

0 2 4 6 8 10 12 14 16


Construction


Auto

Power

Ferrous Metals

Media & Entertainment

Telecom - Services

Pesticides

Consumer Durables

Hotels, Resorts & Other Recreational Activities

Pharmaceuticals


Auto Ancillaries


Petroleum Products

Finance

Industrial Products

Software

Banks

26 February 2019


The investment objective of the Scheme is to provide long-term capital appreciation/income by investing in a mix of equity and debt instruments to help investors meet their retirement goals. There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Retirement Fund

FUND MANAgER ¥

Chirag Setalvad (Equities) (since February 25, 2016)

Total Experience - Over 21 years &Shobhit Mehrotra (Debt) (since February 25, 2016)



February 25, 2016





qUANTiTATiVE DATA






EXiT lOAD

Upon completion of lock-in period: Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Under Each Plan offers Growth Option only.



lOCK-iN PERiOD

Existing investments by investors including SiP / STP registrations, etc (until june 1, 2018):

Units purchased cannot be assigned / transferred / pledged / redeemed / switched out until completion of 5 years from the date of allotment of Units under the Scheme.

Fresh investments by investors including SiP / STP registrations, etc (effective june 2, 2018):

Units purchased cannot be assigned / transferred / pledged / redeemed / switched out until completion of 5 years from the date of allotment of Units or Retirement Age of Unit holder (i.e. completion of 60 years), whichever is earlier.





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -6.41 -2.08 4.32 9,359 9,792 10,432Feb 29, 16 Last 3 Years 16.90 16.88 17.20 15,974 15,965 16,099Feb 25, 16 Since Inception 16.89 16.90 17.23 15,998 16,002 16,137

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by chirag Setalvad (equities) and Shobhit Mehrotra (Debt), please refer page 51. The Scheme is in existence for more than 1 year but less than 3 years. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 64.


l a corpus to provide for pension in the form of income to the extent of the redemption value of their holding after the age of 60 years.

l investment predominantly in equity and equity related instruments.

Riskometer



[An open ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier)]HDFC Retirement Savings Fund - Equity Plan

(A notified Tax Savings Cum Pension Scheme)










• Aarti Industries Ltd. chemicals 1.93



cholamandalam Investment & Finance company Ltd. Finance 1.73









NIIT Technologies Ltd.. Software 1.42

Sharda cropchem Ltd. Pesticides 1.35



Atul Ltd. chemicals 1.22

Finolex Industries Ltd. Industrial Products 1.10


Tata Metaliks Ltd. Ferrous Metals 1.06

Oriental carbon & chemicals Ltd. chemicals 1.02


eIH Ltd. Hotels/Resorts & Other Recreational Activities 0.96



T. V. Today Network Ltd. Media & entertainment 0.90

Great eastern Shipping company Ltd. Transportation 0.89




Redington (India) Ltd. Transportation 0.77

Mcleod Russel India Ltd. consumer Non Durables 0.76




Timken India Ltd. Industrial Products 0.67





GNA Axles Ltd. Auto Ancillaries 0.60




KeI Industries Ltd. Industrial Products 0.52



Bajaj electricals Ltd. consumer Durables 0.37


Greenply Industries Ltd. consumer Durables 0.29



Sub Total 80.33DEBT & DEBT RElATEDgOVERNMENT SECURiTiES (CENTRAl/STATE)• 6.84 GOI 2022 Sovereign 4.11

• 7.59 GOI 2026 Sovereign 2.50

Sub Total 6.61CREDiT EXPOSURE Syndicate Bank cARE - A+ 0.58


Sub Total 1.03Total 7.64cash, cash Equivalents and Net current Assets 12.03

Grand Total 100.00


PORTFOLIO


0.430.580.730.760.881.171.501.661.702.012.782.792.802.943.714.17

5.655.885.996.47

7.8117.92

0 2 4 6 8101214161820

PaperAuto

Non - Ferrous MetalsConsumer Non DurablesIndustrial Capital GoodsMedia & Entertainment

FertilisersTransportationFerrous Metals

PowerConsumer Durables

Auto AncillariesPesticides

PharmaceuticalsHotels, Resorts & Other Recreational Activities

ChemicalsIndustrial Products

Construction ProjectPetroleum Products

FinanceSoftware

Banks

KEY FACTS

February 2019 27


n equity 65.36

n G-Sec 9.05




n equity 65.36n Sovereign 9.05n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent 5.40n AA+ 3.66n A+ & Below 1.54n cash, cash Equivalents and Net





FUND MANAgER ¥





February 25, 2016





qUANTiTATiVE DATA




#BENCHMARK iNDEX: NIFTY 50 Hybrid composite Debt 65:35 Index##ADDl. BENCHMARK iNDEX: NIFTY 50 (Total Returns Index)

EXiT lOAD


PLANS & OPTIONS




lOCK-iN PERiOD









(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -0.68 5.47 4.32 9,932 10,547 10,432Feb 29, 16 Last 3 Years 16.41 13.92 17.20 15,774 14,785 16,099Feb 25, 16 Since Inception 16.46 14.03 17.23 15,820 14,847 16,137

Returns greater than 1 year period are compounded annualized (cAGR). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. The Scheme is in existence for more than 1 year but less than 3 years. For performance of other schemes managed by chirag Setalvad (Equities) and Shobhit Mehrotra (Debt), please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 64.



l investment predominantly in equity and equity related instruments & balance in debt and money market instruments.

Riskometer



[An open ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier)]

HDFC Retirement Savings Fund - Hybrid Equity Plan(A notified Tax Savings Cum Pension Scheme)


EqUiTY & EqUiTY RElATED• HDFc Bank Ltd. Banks 5.46• Reliance Industries Ltd. Petroleum Products 4.53• Housing Development

Finance corporation Ltd.£ Finance 3.79• IcIcI Bank Ltd. Banks 3.53• Infosys Ltd. Software 3.00• Larsen and Toubro Ltd. construction Project 2.55• Merck Ltd Pharmaceuticals 2.54NIIT Technologies Ltd. Software 2.20Aurobindo Pharma Ltd. Pharmaceuticals 1.87Aarti Industries Ltd. chemicals 1.80Axis Bank Ltd. Banks 1.74NRB Bearing Ltd Industrial Products 1.60Sundram Fasteners Ltd. Auto Ancillaries 1.52cholamandalam Investment & Finance company Ltd. Finance 1.48Sonata Software Ltd. Software 1.39UPL Ltd. Pesticides 1.35chambal Fertilizers & chemicals Ltd. Fertilisers 1.32Balkrishna Industries Ltd. Auto Ancillaries 1.30Blue Star Ltd. consumer Durables 1.18State Bank of India Banks 1.17Oriental carbon & chemicals Ltd. chemicals 1.07carborundum Universal Ltd. Industrial Products 1.06KEc International Ltd. construction Project 1.04Power Grid corporation of India Ltd Power 1.04Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 1.03crompton Greaves consumer electrical Ltd. consumer Durables 0.92Kalpataru Power Transmission Ltd. Power 0.89Zensar Technologies Ltd. Software 0.87Mahindra Holidays & Resorts India Ltd.


Shaily engineering Plastics Ltd. Industrial Products 0.75Nilkamal Ltd. Industrial Products 0.74Voltas Ltd. construction Project 0.71Tata Steel Ltd. Ferrous Metals 0.66TI Financial Holdings Ltd. Finance 0.63Bajaj electricals Ltd. consumer Durables 0.60Hindustan Petroleum corporation Ltd. Petroleum Products 0.59SKF India Ltd. Industrial Products 0.59YeS Bank Ltd. Banks 0.57Shree Pushkar chemicals & Fertilisers Ltd. chemicals 0.56Apar Industries Ltd. Industrial capital Goods 0.55Indusind Bank Ltd. Banks 0.52Tube Investments of India Ltd. Auto Ancillaries 0.52Vedanta Ltd. Non - Ferrous Metals 0.52Tata Motors Ltd. DVR Auto 0.46Vesuvius India Ltd. Industrial Products 0.45


Bank of Baroda Banks 0.35Redington (India) Ltd. Transportation 0.31Tamilnadu Newsprint & Papers Ltd. Paper 0.31Sadbhav engineering Ltd. construction Project 0.24Greenply Industries Ltd. consumer Durables 0.23Jagran Prakashan Ltd. Media & entertainment 0.23Kirloskar Oil Engines Ltd. Industrial Products 0.19Sub Total 65.36DEBT & DEBT RElATEDgOVERNMENT SECURiTiES (CENTRAl/STATE)• 6.84 GOI 2022 Sovereign 4.376.35 GOI 2020 Sovereign 2.197.68 GOI 2023 Sovereign 1.347.37 GOI 2023 Sovereign 1.118.27 GOI 2020 Sovereign 0.04Sub Total 9.05CREDiT EXPOSURE • Jamnagar Utilities & Power

Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA 4.31

• State Bank of India cRISIL - AA+ 3.66Syndicate Bank cARE - A+ 1.54Reliance Jio Infocomm Ltd. cRISIL - AAA 1.09Sub Total 10.60Total 19.65cash, cash Equivalents and Net current Assets 14.99Grand Total 100.00• Top Ten Holdings, £ co-sponsor

PORTFOLIO


0.230.310.310.460.520.550.661.321.351.871.93

2.933.343.43

4.414.545.125.385.90

7.4613.34

0 2 4 6 8 10121416

Media & EntertainmentPaper

TransportationAuto

Non - Ferrous MetalsIndustrial Capital Goods

Ferrous MetalsFertilisersPesticides

Hotels, Resorts & Other Recreational ActivitiesPower

Consumer DurablesAuto Ancillaries

ChemicalsPharmaceuticals

Construction ProjectPetroleum ProductsIndustrial Products

FinanceSoftware

Banks

KEY FACTS

28 February 2019




FUND MANAgER ¥





February 26, 2016





qUANTiTATiVE DATA

Average Maturity * 2.79 yearsMacaulay Duration * 2.38 yearsModified Duration * 2.23 yearsYield to Maturity * 7.98%* computed on the invested amount for debt portfolio.




##ADDl. BENCHMARK iNDEX: cRISIL 10 Year Gilt Index

EXiT lOAD


PLANS & OPTIONS




lOCK-iN PERiOD









(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 1.62 6.73 8.77 10,162 10,673 10,877Feb 29, 16 Last 3 Years 8.09 9.00 6.23 12,628 12,951 11,987Feb 26, 16 Since Inception 8.47 9.13 6.61 12,769 13,005 12,124

Returns greater than 1 year period are compounded annualized (cAGR). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. The Scheme is in existence for more than 1 year but less than 3 years. For performance of other schemes managed by chirag Setalvad (equities) and Shobhit Mehrotra (Debt), please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 64.



l investment predominantly in debt and money market instruments & balance in equity and equity related instruments.

Riskometer




n equity 17.77

n G-Sec 32.45




n equity 17.77n Sovereign 32.45n AAA/AAA(SO)/A1+/A1+(SO)

& equivalent 7.15n AA+ 7.27n AA/AA- 3.02n A+ & Below 11.12n cash, cash Equivalents and

Net current Assets 21.22

[An open ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier)]

HDFC Retirement Savings Fund - Hybrid Debt Plan(A notified Tax Savings Cum Pension Scheme)





Sundram Fasteners Ltd. Auto Ancillaries 0.94

Reliance Industries Ltd. Petroleum Products 0.81

NIIT Technologies Ltd. Software 0.80

Aarti Industries Ltd. chemicals 0.74

Larsen and Toubro Ltd. construction Project 0.70

Infosys Ltd. Software 0.69


Orient Refractories Ltd. Industrial Products 0.60




NRB Bearing Ltd Industrial Products 0.51

Oriental carbon & chemicals Ltd. chemicals 0.47


Vesuvius India Ltd. Industrial Products 0.42

Avanti Feeds Ltd. consumer Non Durables 0.41


Bajaj electricals Ltd. consumer Durables 0.37

GNA Axles Ltd. Auto Ancillaries 0.36




Time Technoplast Ltd. Industrial Products 0.36





Timken India Ltd. Industrial Products 0.28







Poddar Pigments Ltd. chemicals 0.16




Sub Total 17.77

DEBT & DEBT RElATED


• 7.37 GOI 2023 Sovereign 12.49

• 7.68 GOI 2023 Sovereign 11.75


Sub Total 32.45

CREDiT EXPOSURE

• Starlite Lighting Ltd. (corporate Guarantee of Bajaj electrical Ltd.) IcRA - A+(SO) 7.82

• State Bank of India cRISIL - AA+ 7.27

• Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA 4.04

• Syndicate Bank cARE - A+ 3.30

• Reliance Jio Infocomm Ltd. cRISIL - AAA 3.11

• Union Bank of India cARE - AA- 3.02

Sub Total 28.56

Total 61.01


Grand Total 100.00


PORTFOLIOKEY FACTS

February 2019 29

iNVESTMENT OBjECTiVETo provide capital appreciation by investing in equity & equity related instruments, Arbitrage opportunities, and Debt & money market instruments.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Equity Savings Fund

FUND MANAgER ¥

Vinay Kulkarni (equities) (since November 21, 06)

Total Experience: Over 29 years Krishan Kumar Daga (equities) (since January 08, 16)

Total Experience: Over 22 yearsAnil Bamboli (Debt) (since September 17, 04)


iNCEPTiON DATE (Date of Allotment)September 17, 2004



qUANTiTATiVE DATAPortfolio Turnover Ratio 45.44%Average Maturity * 1.74 yearsMacaulay Duration * 1.54 yearsModified Duration * 1.42 yearsYield to Maturity * 8.75%* computed on the invested amount for debt portfolio.


#BENCHMARK iNDEX: 40% NIFTY 50 Arbitrage Index, 30% cRISIL Short Term Bond Fund Index and 30% NIFTY 50 (Total Returns Index)


EXiT lOADl In respect of each purchase / switch-in of Units, upto 15%

of the units may be redeemed without any exit load from the date of allotment.








This product is suitable for investors who are seeking ~l capital appreciation while generating income over medium to

long term.l provide capital appreciation and income distribution to the

investors by using equity and equity related instruments, arbitrage opportunities, and investments in debt and money market instruments.

Riskometer



SiP PERFORMANCE ^ - Regular plan - growth OptionSince Inception SIP 10 year SIP 5 Year SIP 3 Year SIP 1 Year SIP

Total Amount Invested (` ‘000) 1,740.00 1,200.00 600.00 360.00 120.00 Mkt Value As on February 28, 2019 (` ‘000) 3,503.54 1,900.45 728.34 394.47 120.76 Returns (%) 9.09 8.90 7.70 6.05 1.18 Benchmark Returns (%) # N.A. N.A. 7.44 7.06 5.04 Additional Benchmark Returns (%) ## 11.72 11.08 9.58 9.89 1.12

Assuming ` 10,000 invested systematically on the first Business Day of every month over a period of time. cAGR returns are computed after accounting for the cash flow by using xIRR method (investment internal rate of return) for Regular Plan - Growth Option. The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. N.A. Not Available.

PERFORMANCE ^ - Regular plan - growth OptionDate Period^^ Scheme

Returns (%)

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 investedScheme (`) Benchmark

(`)#Additional

Benchmark (`)##

Feb 28, 18 Last 1 Year 1.43 5.71 4.32 10,143 10,571 10,432Feb 29, 16 Last 3 Years 12.49 9.55 17.20 14,235 13,146 16,099Feb 28, 14 Last 5 Years 9.47 8.99 12.86 15,728 15,380 18,317Sep 17, 04 Since Inception 9.13 N.A. 14.92 35,379 N.A. 74,665

^^Effective December 16, 2015, certain changes, including changes to fundamental attributes, were effected in the erstwhile HDFc Multiple Yield Fund, (an open ended income scheme) which was renamed as HDFc Equity Savings Fund, an open ended equity scheme. On account of these changes, the performance during the period(s) from September 17, 2004 to December 15, 2015 is not comparable.Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance may not strictly be comparable with that of its Additional Benchmark, since a portion of scheme’s investments are made in debt instruments. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. Load is not taken into consideration for computation of performance. For performance of other schemes managed by Vinay Kulkarni (Equities), Krishan Kumar Daga (Equities) and Anil Bamboli (Debt), please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 63.^Past performance may or may not be sustained in the future. Load is not taken into consideration for computation of performance.

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of February 28, 2019 unless otherwise specified. ...contd on next page

PORTFOLIO





(An open ended scheme investing in equity, arbitrage and debt)HDFC Equity Savings Fund



EqUiTY & EqUiTY RElATED• Reliance Industries Ltd. Petroleum Products 5.04 0.97• IcIcI Bank Ltd. Banks 4.25 0.67• Housing Development Finance

corporation Ltd.£ Finance 4.12 4.12• Infosys Ltd. Software 3.73 0.08• NTPc Ltd. Power 3.13 0.00• HDFc Bank Ltd. Banks 2.90 0.00• Larsen and Toubro Ltd. construction Project 2.33 0.00State Bank of India Banks 2.13 0.20Tata Steel Ltd. Ferrous Metals 1.98 1.83YeS Bank Ltd. Banks 1.81 1.81Aurobindo Pharma Ltd. Pharmaceuticals 1.67 1.15



ITc Ltd. consumer Non Durables 1.62 0.13GAIL (India) Ltd. Gas 1.45 0.00JSW Steel Ltd Ferrous Metals 1.42 1.42Vedanta Ltd. Non - Ferrous Metals 1.34 0.00Sun Pharmaceutical Industries Ltd. Pharmaceuticals 1.20 1.20Maruti Suzuki India Ltd. Auto 1.12 1.12LIc Housing Finance Ltd. Finance 0.92 0.66Mahindra & Mahindra Ltd. Auto 0.90 0.72Shriram Transport Finance company Ltd. Finance 0.90 0.90Dr Reddys Laboratories Ltd. Pharmaceuticals 0.89 0.89Tata Motors Ltd. Auto 0.84 0.60Bharti Airtel Ltd. Telecom - Services 0.79 0.61Hindalco Industries Ltd Non - Ferrous Metals 0.73 0.73

PORTFOLIO


0.020.040.150.150.180.230.240.330.450.530.560.560.630.630.82

1.341.491.58

2.514.344.544.62

8.84

0 1 2 3 4 5 6 7 8 9 10

Media & EntertainmentCement

Auto AncillariesFerrous Metals

Telecom - ServicesPesticides

Minerals/MiningChemicals

TransportationConstruction

AutoFinance

OilIndustrial Capital Goods

PharmaceuticalsNon - Ferrous Metals

Consumer Non DurablesGas

Construction ProjectPower

SoftwarePetroleum Products

Banks

KEY FACTS

30 February 2019

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, cD - certificate of Deposit; cP - commercial Papers. Data is as of February 28, 2019 unless otherwise specified.

(An open ended scheme investing in equity, arbitrage and debt) .....Contd from previous pageHDFC Equity Savings Fund



Titan company Ltd. consumer Durables 0.69 0.69Bajaj Finance Ltd. Finance 0.66 0.66Power Grid corporation of India Ltd Power 0.66 0.00DLF Ltd. construction 0.64 0.64Oil & Natural Gas corporation Ltd. Oil 0.63 0.00Tata consultancy Services Ltd. Software 0.52 0.52United Spirits Ltd. consumer Non Durables 0.42 0.42Bharat Petroleum corporation Ltd. Petroleum Products 0.41 0.00M&M Financial Services Ltd. Finance 0.41 0.41L&T Technology Services Ltd. Software 0.39 0.00Tata Global Beverages Ltd. consumer Non Durables 0.39 0.39Dabur India Ltd. consumer Non Durables 0.38 0.38escorts Ltd. Auto 0.38 0.38Gujarat Pipavav Port Ltd. Transportation 0.35 0.00UPL Ltd. Pesticides 0.34 0.11JMc Projects (India) Ltd. construction 0.33 0.00Tata chemicals Ltd. chemicals 0.33 0.00The Federal Bank Ltd. Banks 0.33 0.33cipla Ltd. Pharmaceuticals 0.32 0.02Adani Power (Mundra) Ltd. (Secured by Shares of Adani Port & SeZ Ltd.) Power 0.30 0.30Ashok Leyland Ltd Auto 0.30 0.30Tata Motors Ltd. DVR Auto 0.30 0.16eclerx Services Ltd. Software 0.29 0.00PETRONET LNG Ltd. Gas 0.29 0.29Multi commodity Exchange of India L Finance 0.28 0.28Strides Pharma Science Ltd. Pharmaceuticals 0.28 0.28Texmaco Rail & engineering Ltd. Industrial capital Goods 0.28 0.00Grasim Industries Ltd. cement 0.27 0.27Britannia Industries Ltd. consumer Non Durables 0.26 0.26Havells India Ltd. consumer Durables 0.26 0.26Axis Bank Ltd. Banks 0.25 0.05cESc Ltd. Power 0.25 0.00Hindustan Unilever Ltd. consumer Non Durables 0.25 0.25NHPc Ltd. Power 0.25 0.00coal India Ltd. Minerals/Mining 0.24 0.00Raymond Ltd. Textile Products 0.24 0.24Zee entertainment enterprises Ltd Media & entertainment 0.24 0.24Hero Motocorp Ltd. Auto 0.22 0.22Newgen Software Technologies Ltd Software 0.21 0.00equitas Holdings Ltd. Finance 0.20 0.20Ncc Ltd. construction Project 0.20 0.20century Textiles & Industries Ltd. cement 0.19 0.19Bank of Baroda Banks 0.18 0.00ITD cementation India Ltd. construction 0.17 0.00Power Finance corporation Ltd Finance 0.17 0.00The Tata Power company Ltd. Power 0.17 0.17cadila Healthcare Ltd. Pharmaceuticals 0.16 0.16Jindal Steel & Power Ltd. Ferrous Metals 0.16 0.16Apollo Tyres Ltd. Auto Ancillaries 0.15 0.00IcIcI Prudential Life Insurance company Ltd. Finance 0.15 0.15Punjab National Bank Banks 0.15 0.10Ashoka Buildcon Ltd. construction Project 0.14 0.00Godrej consumer Products Ltd. consumer Non Durables 0.14 0.14HcL Technologies Ltd. Software 0.14 0.14Hindustan Petroleum corporation Ltd. Petroleum Products 0.14 0.00Mahanagar Gas Ltd. Gas 0.14 0.01Asian Paints Ltd. consumer Non Durables 0.13 0.13Reliance Nippon Life Asset Management Ltd. Finance 0.13 0.00Tata elxsi Ltd. Software 0.13 0.13Titagarh Wagons Ltd. Industrial capital Goods 0.13 0.00Reliance capital Ltd. Finance 0.12 0.12Ambuja cements Ltd. cement 0.11 0.11centum Electronics Ltd. Industrial capital Goods 0.10 0.00container corporation of India Ltd. Transportation 0.10 0.00Gujarat State Fertilizers & chemicals Fertilisers 0.10 0.10Wockhardt Ltd. Pharmaceuticals 0.10 0.10Bharat Financial Inclusion Ltd. Finance 0.09 0.09Biocon Ltd. Pharmaceuticals 0.09 0.09Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.09 0.09JAIN Irrigation Systems Ltd. Industrial Products 0.09 0.09Godrej Industries Ltd. consumer Non Durables 0.08 0.08Max Financial Services Ltd. Finance 0.08 0.08Mindtree consulting Ltd Software 0.08 0.08BeML Ltd. Industrial capital Goods 0.07 0.00IRB Infrastructure Developers Ltd construction 0.07 0.07Sun TV Network Ltd. Media & entertainment 0.07 0.07Tata communications Ltd. Telecom - Services 0.07 0.07Bajaj Auto Ltd. Auto 0.06 0.06Bharat electronics Ltd. Industrial capital Goods 0.05 0.00Hexaware Technologies Ltd. Software 0.05 0.05



IDFc Ltd. Finance 0.05 0.05Kalpataru Power Transmission Ltd. Power 0.05 0.00Lupin Ltd. Pharmaceuticals 0.05 0.05Nestle India Ltd. consumer Non Durables 0.05 0.05PVR Ltd. Media & entertainment 0.05 0.05Adani Ports & Special economic Zone Transportation 0.04 0.04KEc International Ltd. construction Project 0.04 0.00MRF Ltd. Auto Ancillaries 0.04 0.04Orient cement Ltd. cement 0.04 0.00United Breweries Ltd. consumer Non Durables 0.04 0.04Bosch Ltd. Auto Ancillaries 0.03 0.03eicher Motors Ltd. Auto 0.03 0.03IDBI Bank Ltd. Banks 0.03 0.03NBcc (India) Ltd. construction 0.03 0.00Reliance Infrastructure Ltd. Power 0.03 0.03Reliance Power Ltd Power 0.03 0.03Shree cement Ltd. cement 0.03 0.03Acc Ltd. cement 0.02 0.02Bajaj Finserv Ltd Finance 0.02 0.02canFin Homes Ltd Finance 0.02 0.02Godfrey Phillips India Ltd. consumer Non Durables 0.02 0.02Indusind Bank Ltd. Banks 0.02 0.02Kotak Mahindra Bank Ltd. Banks 0.02 0.02S chand and company Ltd. Media & entertainment 0.02 0.00Siemens Ltd. Industrial capital Goods 0.02 0.02cholamandalam Investment & Finance company Ltd. Finance 0.01 0.01Syndicate Bank Banks 0.01 0.01MPS Ltd. consumer Non Durables @Sub Total 66.83Preference SharesZee entertainment enterprises Ltd Media & entertainment @Sub Total @Total 66.83DEBT & DEBT RElATEDgOVERNMENT SECURiTiES (CENTRAl/STATE)7.16 GOI 2023 Sovereign 1.17Sub Total 1.17CREDiT EXPOSURE • Housing Development Finance

corporation Ltd. £ cRISIL - AAA / IcRA - AAA 3.45• Punjab National Bank cARE - A+ 3.25• State Bank of India cARE - AA+ / cRISIL - AA+ 2.63HDFc Bank Ltd. cARE - AA+ 1.67Syndicate Bank cARE - A+ 1.39M&M Financial Services Ltd. cARE - AAA / IND - AAA 1.25Reliance Jio Infocomm Ltd. cRISIL - AAA / IcRA - AAA 1.23Union Bank of India cARE - AA- / IND - AA 0.88Power Finance corporation Ltd cRISIL - AAA 0.87ONGc Petro additions Ltd. (OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 0.42Axis Bank Ltd. cRISIL - AA+ 0.41canara Bank cRISIL - AA 0.40Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) 0.19LIc Housing Finance Ltd. cRISIL - AAA 0.17Power Grid corporation of India Ltd cRISIL - AAA 0.17Bank of Baroda cARE - AA 0.16JM Financial Asset Reconstruction company Ltd. IcRA - AA- 0.01Sub Total 18.55Total 19.72Short Term Deposits as margin for Futures & Options 9.21cash, cash Equivalents and Net current Assets 4.24Grand Total 100.00

• Top Ten Holdings, £ co-sponsor , @ Less than 0.01%

Outstanding exposure in derivative instruments (` in crore) 1,924.11



PORTFOLIO

February 2019 31


To generate income / capital appreciation by investing primarily in debt securities, money market instruments and moderate exposure to equities.


CATEgORY OF SCHEME: conservative Hybrid Fund

FUND MANAgER ¥

Prashant Jain (equities) (since December 26, 03)

Total Experience: Over 27 years &Shobhit Mehrotra (Debt) (since September 1, 07)



December 26, 2003


Regular Plan - Growth Option 44.1343Regular Plan - Monthly Dividend Option 12.8116Regular Plan - Quarterly Dividend Option 13.6124Direct Plan - Growth Option 45.5689Direct Plan - Monthly Dividend Option 13.3616Direct Plan - Quarterly Dividend Option 14.1894



qUANTiTATiVE DATA





##ADDl. BENCHMARK iNDEX: cRISIL 10 year Gilt Index

EXiT lOAD

l In respect of each purchase / switch-in of Units, 15% of the Units (“the limit”) may be redeemed without any exit load from the date of allotment.

l Any redemption in excess of the limit shall be subject to the following exit load:


l No exit load is payable if Units are redeemed / switched-out after 1 year from the date of allotment.


PLANS & OPTIONS

Regular Plan, Direct Plan. Under each Plan : Growth, Monthly Dividend & Quarterly Dividend Option. The Dividend Option offers Dividend Payout and Reinvestment facility.


Purchase: (Growth & Quarterly Dividend Option) - ` 5,000 and any amount thereafter. (Monthly Dividend Option) - ` 25,000 and any amount thereafter.Additional Purchase : ` 1,000 and any amount thereafter.


Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, cD - certificate of Deposit; cP - commercial Papers. Data is as of February 28, 2019 unless otherwise specified.







Larsen and Toubro Ltd. construction Project 1.45

Power Grid corporation of India Ltd. Power 1.17






Power Finance corporation Ltd. Finance 0.76















Syndicate Bank Banks 0.32


Texmaco Rail & engineering Ltd. Industrial capital Goods 0.27

Union Bank of India Banks 0.23



Mishra Dhatu Nigam Ltd. Ferrous Metals 0.14

elecon engineering comapny Ltd. Industrial capital Goods 0.03



Rallis India Ltd. Pesticides @

Tata Motors Ltd. DVR Auto @

Sub Total 24.74

DEBT & DEBT RElATED









GOI 2023 Sovereign 0.24


8.10% Tamil Nadu SDL - Mat 110325 Sovereign 0.08


Sub Total 12.63

CREDiT EXPOSURE


cARE - AAA / cRISIL - AAA / IcRA - AAA 7.16

• Reliance Jio Infocomm Ltd. cRISIL - AAA / IcRA - AAA 4.40

• Rural electrification corporation Ltd. cARE - AAA / cRISIL - AAA 4.19

• State Bank of India cRISIL - AA+ / cRISIL - AAA 2.58


• Union Bank of India cARE - AA- / IND - AA 2.43

• Housing Development Finance corporation Ltd.£ cRISIL - AAA 2.39


TATA International Ltd. cARE - A+ 1.91

Adani Transmission Ltd. IND - AA+ 1.60


Reliance Industries Ltd. cRISIL - AAA 1.57

canara Bank IcRA - AA 1.55

Tata Realty and Infrastructure Ltd. cRISIL - AA 1.55


Indian Railways Finance corporation Ltd. cARE - AAA / cRISIL - AAA 1.26

The Tata Power company Ltd. cRISIL - AA- 1.16

(An open ended hybrid scheme investing predominantly in debt instruments)HDFC Hybrid Debt Fund

PORTFOLIOKEY FACTS

32 February 2019



l to generate long-term income / capital appreciation

l investments primarily in debt securities, money market instruments and moderate exposure to equities

Riskometer




Since Inception SIP

15 year SIP 10 year SIP 5 Year SIP 3 Year SIP 1 Year SIP

Total Amount Invested (` ‘000) 1,830.00 1,800.00 1,200.00 600.00 360.00 120.00

Mkt Value As on February 28, 2019 (` ‘000) 3,984.49 3,853.85 1,865.59 703.25 383.53 121.89

Returns (%) 9.55 9.51 8.55 6.30 4.17 2.96

Benchmark Returns (%) # 8.48 8.50 8.37 7.56 6.51 7.09

Additional Benchmark Returns (%) ## 6.30 6.34 6.47 6.27 4.63 9.67




(%)

Benchmark Returns

(%)#


Returns (%) ##



Additional Benchmark (`)##

Feb 28, 18 Last 1 Year 2.37 6.73 8.77 10,237 10,673 10,877

Feb 29, 16 Last 3 Years 9.46 9.00 6.23 13,116 12,951 11,987

Feb 28, 14 Last 5 Years 10.03 9.45 8.05 16,129 15,710 14,734


Returns greater than 1 year period are compounded annualized (cAGR). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. For performance of other schemes managed by Prashant Jain (Equities) and Shobhit Mehrotra (Debt), please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 63.


Note: Effective close of business hours of May 25, 2018, HDFc MF Monthly Income Plan – Long Term Plan (MIP-LTP) underwent changes in Fundamental Attributes and was renamed as HDFc Hybrid Debt Fund (HHDF) and HDFc MF Monthly Income Plan – Short Term Plan was merged therein. As the portfolio structuring of HHDF closely resembles the erstwhile MIP-LTP, the past performance of MIP-LTP is provided, in line with SeBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.


n equity 24.74

n G-Sec, SDL 12.63

n cP 0.74







(An open ended hybrid scheme investing predominantly in debt instruments) .....Contd from previous pageHDFC Hybrid Debt Fund


Andhra Pradesh expressway Ltd. (NHAI Annuity) IcRA - AAA(SO) 1.01

Power Grid corporation of India Ltd. cRISIL - AAA 0.99


Hazaribagh Ranchi expressway Ltd. (NHAI Annuity) cARE - BB 0.88

Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 0.85

Kotak Mahindra Bank Ltd. cRISIL - AAA 0.82

Bank of Baroda cARE - AA+ 0.80


Hinduja Leyland Finance Ltd cARE - AA- 0.66

cholamandalam Investment & Finance company Ltd. IcRA - AA+ 0.42

Shriram city Union Finance Ltd. cARE - AA+ 0.39

EcL Finance Ltd. IcRA - A1+ 0.33

export - Import Bank of India cRISIL - AAA 0.32




Tata Steel Ltd. cARE - AA- 0.17

Daimler Fin Ser (I) Pvt Ltd. IND - AAA 0.10

Tata Motors Ltd. cARE - AA 0.08

Vedanta Ltd. cRISIL - AA 0.06

Bharati Telecom Ltd. cRISIL - AA+ 0.05

Asian Satellite Broadcast Pvt. Ltd (Secured with shares of Zee entertainment enterprise Ltd.) BRIcKWORKS - A(SO) 0.04

Sub Total 51.80

Total 64.43

MONEY MARKET iNSTRUMENTS

CD/CP

Kotak Mahindra Investments Ltd. cRISIL - A1+ 0.74

Sub Total 0.74


Grand Total 100.00

• Top Ten Holdings, £ co-sponsor, @ Less than 0.01%

PORTFOLIO

February 2019 33


To generate income through arbitrage opportunities and debt & money market instruments.


CATEgORY OF SCHEME: Arbitrage Fund

FUND MANAgER ¥

Krishan Kumar Daga (since September 10, 15)



October 23, 2007


Retail PlanRegular Plan - Growth Option 21.347Regular Plan - Dividend Option 15.855Regular Plan - Quarterly Dividend Option 15.173Direct Plan - Growth Option 22.009Direct Plan - Quarterly Dividend Option 16.677

Wholesale PlanRegular Plan - Growth Option 21.814Regular Plan - Dividend Option 10.369Regular Plan - Monthly Dividend Option 10.785Direct Plan - Growth Option 13.885Direct Plan - Dividend Option 10.736Direct Plan - Monthly Dividend Option 10.459



qUANTiTATiVE DATA




#BENCHMARK iNDEX: NIFTY 50 Arbitrage Index


EXiT lOAD

l In respect of each purchase / switch-in of Units, an exit Load of 0.25% is payable if Units are redeemed / switched-out within 1 month from the date of allotment.

l No exit Load is payable if Units are redeemed / switched-out after 1 month from the date of allotment.


PLANS & OPTIONS

(Wholesale Plan) - Regular Plan, (Wholesale Plan) - Direct Plan.Under Each Plan : Growth & Dividend. Dividend Option offers Monthly Dividend Option and Normal Dividend Option with Payout and Reinvestment facility.


Purchase/Additional Purchase: ̀ 1 lakh and any amount thereafter.



EqUiTY & EqUiTY RElATED (quantity fully hedged using Futures/Options)



• Sun Pharmaceutical Industries Ltd. Pharmaceuticals

4.93

• YES Bank Ltd. Banks 4.61

• Tata consultancy Services Ltd. Software

3.76

• Hindustan Unilever Ltd. consumer Non Durables 2.68

• Mahindra & Mahindra Ltd. Auto 2.20

• Housing Development Finance corporation Ltd.£ Finance

2.09

Titan company Ltd. consumer Durables 1.77

Britannia Industries Ltd. consumer Non Durables 1.63



Dr Reddys Laboratories Ltd. Pharmaceuticals 1.32


Shriram Transport Finance company Ltd. Finance

1.24

Adani Ports & Special economic Zone Transportation

1.11

Nestle India Ltd. consumer Non Durables 1.11

Dabur India Ltd.consumer Non Durables

1.09

Ashok Leyland Ltd Auto 1.04

JSW Steel Ltd Ferrous Metals 0.99

Adani enterprises Ltd. Trading 0.86

Ncc Ltd. construction Project 0.82



Kotak Mahindra Bank Ltd. Banks 0.63

escorts Ltd. Auto 0.61



ITc Ltd. consumer Non Durables 0.56

Multi commodity Exchange of India Ltd. Finance

0.55

Lupin Ltd. Pharmaceuticals 0.53

century Textiles & Industries Ltd. cement

0.50

IDFc Ltd. Finance 0.48

Bharat Financial Inclusion Ltd. Finance 0.47

Marico Ltd. consumer Non Durables 0.46

Raymond Ltd. Textile Products 0.46

Strides Pharma Science Ltd. Pharmaceuticals 0.46

LIc Housing Finance Ltd. Finance 0.44

Godrej consumer Products Ltd. consumer Non Durables 0.43

Hindalco Industries Ltd Non - Ferrous Metals 0.40

Adani Power (Mundra) Ltd. (Secured by Shares of Adani Port & SeZ Ltd.) Power

0.38


The Tata Power company Ltd. Power 0.35


M&M Financial Services Ltd. Finance 0.32

DLF Ltd. construction 0.30

Bajaj Finserv Ltd Finance 0.29

United Breweries Ltd. consumer Non Durables 0.29


Havells India Ltd. consumer Durables 0.23

United Spirits Ltd. consumer Non Durables 0.23

cadila Healthcare Ltd. Pharmaceuticals 0.22

Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.22

Godrej Industries Ltd. consumer Non Durables 0.22


equitas Holdings Ltd. Finance 0.19

IRB Infrastructure Developers Ltd. construction

0.18

Bharat Petroleum corporation Ltd. Petroleum Products

0.17

Tata elxsi Ltd. Software 0.14

canFin Homes Ltd Finance 0.13

The South Indian Bank Ltd. Banks 0.13

Wockhardt Ltd. Pharmaceuticals 0.13


Grasim Industries Ltd. cement 0.11

Hindustan Petroleum corporation Ltd. Petroleum Products

0.11

Jain Irrigation Systems Ltd. Industrial Products 0.11


MRF Ltd. Auto Ancillaries 0.10

Petronet LNG Ltd. Gas 0.09


TV18 Broadcast Ltd. Media & entertainment 0.08

Bharat Forge Ltd. Industrial Products 0.07

Reliance Infrastructure Ltd. Power 0.06

Indiabulls Housing Finance Ltd. Finance 0.05

InterGlobe Aviation Ltd. Transportation 0.05


Gujarat State Fertilizers & chemicals Fertilisers

0.04

IFcI Ltd. Finance 0.04

Kajaria ceramics Ltd. construction 0.04

Oil & Natural Gas corporation Ltd. Oil

0.04

Reliance Power Ltd Power 0.04

exide Industries Ltd. Auto Ancillaries 0.03

IcIcI Bank Ltd. Banks 0.03


Jindal Steel & Power Ltd. Ferrous Metals 0.02

Shree cement Ltd. cement 0.02

The Federal Bank Ltd. Banks 0.02

Oracle Financial Services Software Ltd.

Software 0.01

Acc Ltd. cement @

Balkrishna Industries Ltd. Auto Ancillaries @

Sub Total 65.57

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of February 28, 2019 unless otherwise specified. ....contd on next page

(An open ended scheme investing in arbitrage opportunities)HDFC Arbitrage FundPORTFOLIOKEY FACTS

34 February 2019


l income over short term.

l income through arbitrage opportunities between cash and derivative market and arbitrage opportunities within the derivative segment.

Riskometer

Investors understand that their principal will be at moderately low risk


PERFORMANCE ^ - Wholesale Plan - Regular plan - growth Option


(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 5.57 4.97 4.32 10,557 10,497 10,432Feb 29, 16 Last 3 Years 5.89 5.18 17.20 11,873 11,636 16,099Feb 28, 14 Last 5 Years 6.46 6.19 12.86 13,675 13,504 18,317Oct 23, 07 Since Inception 7.11 N.A. 7.42 21,814 N.A. 22,544

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance is not strictly comparable with that of its Additional Benchmark since the scheme does not take directional call in equity markets but is limited to availing arbitrage opportunities, etc. For performance of other schemes managed by Krishan Kumar Daga, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.

Face Value per Unit: ̀ 10 unless otherwise specified, + Industry classification as recommended by AMFI, cD - certificate of Deposit; cP - commercial Papers, Data is as of February 28, 2019 unless otherwise specified.



n equity 65.57n AAA/AAA(SO)/A1+/A1+(SO)




n equity 65.57n credit Exposure 8.92n cash, cash Equivalents and


(An open ended scheme investing in arbitrage opportunities) .....Contd from previous pageHDFC Arbitrage Fund


DEBT & DEBT RElATED

CREDiT EXPOSURE

• Punjab National Bank cARE - A+ 2.12






Bank of Baroda cARE - AA 0.42


Union Bank of India IND - AA 0.25

IcIcI Bank Ltd. IcRA - AA+ 0.06

Sub Total 8.92

Short Term Deposits as margin for Futures & Options 19.29


Grand Total 100.00

• Top Ten Holdings, £ co-sponsor, @ less than 0.01%

Outstanding exposure in derivative instruments (` in crore) 2,360.76




0.040.040.080.110.130.130.180.400.460.520.580.630.710.820.830.861.16

2.002.46

5.895.966.286.566.60

8.7213.42

0 2 4 6 8 10 12 14 16

FertilisersOil

Media & EntertainmentIndustrial Capital Goods

Auto AncillariesGas

Industrial ProductsNon - Ferrous Metals

Textile ProductsConstruction

PesticidesCement

Telecom - ServicesConstruction Project

PowerTrading

TransportationConsumer Durables

Ferrous MetalsBanks

SoftwareAuto

FinancePetroleum Products

Consumer Non DurablesPharmaceuticals

February 2019 35


To generate income/capital appreciation through investments predominantly in AA+ and above rated corporate bonds.


CATEgORY OF SCHEME: corporate Bond Fund

FUND MANAgER ¥

Anupam Joshi (since October 27, 15)



June 29, 2010


Regular Plan - Growth Option 20.4599Regular Plan - Dividend Option 13.9157Regular Plan - Quarterly Dividend Option 10.2965Direct Plan - Growth Option 20.5822Direct Plan - Dividend Option 14.1253Direct Plan - Quarterly Dividend Option 10.1915



qUANTiTATiVE DATA

Average Maturity * 3.19 yearsMacaulay Duration * 2.53 yearsModified Duration * 2.36 yearsYield to Maturity * 8.51%* computed on the invested amount.



#BENCHMARK iNDEX: cRISIL composite Bond Fund Index


EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Under both the Plans: Growth, Quarterly Dividend & Normal Dividend. Both Dividend options offer Payout and Reinvestment facilities.


Purchase : ` 5,000 and any amount thereafter. Additional Purchase : ` 1,000 and any amount thereafter.




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 7.25 7.13 8.77 10,725 10,713 10,877Feb 29, 16 Last 3 Years 7.97 7.64 6.23 12,587 12,470 11,987Feb 28, 14 Last 5 Years 8.62 9.04 8.05 15,127 15,420 14,734Jun 29, 10 Since Inception 8.60 7.86 6.29 20,460 19,276 16,971

Returns greater than 1 year period are compounded annualized (cAGR). Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anupam Joshi, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.

Face Value per Unit: ` 10 unless otherwise specified, cD - certificate of Deposit; cP - commercial Papers, Data is as of February 28, 2019 unless otherwise specified.


l income over short to medium term

l to generate income/capital appreciation through investments predominantly in AA+ and above rated corporate bonds

Riskometer



Issuer Rating % to NAV

DEBT & DEBT RElATED

gOVERNMENT SECURiTiES (CENTRAl/STATE)7.17 GOI 2028 Sovereign 3.308.76% Maharashtra SDL - Mat 220222 Sovereign 1.537.42% Maharashtra SDL - Mat 110522 Sovereign 0.748.94% Gujarat SDL - Mat 070322 Sovereign 0.738.45% Uttar Pradesh SDL - ISD 270219 Mat 270229 Sovereign 0.648.44% Jharkhand SDL - ISD 270219 Mat 270229 Sovereign 0.428.66% Maharashtra SDL - Mat 250122 Sovereign 0.318.43% Himachal Pradesh SDL- ISD 270219 MAT 270229 Sovereign 0.138.64% Tamil Nadu SDL - Mat 060721 Sovereign 0.027.68 GOI 2023 Sovereign 0.01Sub Total 7.83CREDiT EXPOSURE • Power Finance

corporation Ltd.cARE - AAA / cRISIL - AAA / IcRA - AAA 7.44

• Bajaj Finance Ltd. cRISIL - AAA / IND - AAA 6.37• ONGc Petro additions Ltd.

(OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 5.83• Housing Development

Finance corporation Ltd.£ cRISIL - AAA 5.43• Indiabulls Housing Finance Ltd. cARE - AAA 4.95• Reliance Industries Ltd. cRISIL - AAA / IcRA - AAA 4.82• M&M Financial Services Ltd. IND - AAA 4.61• HDB Financial Services Ltd. cARE - AAA / cRISIL - AAA 4.42• Rural electrification

corporation Ltd. cRISIL - AAA / IND - AAA 4.25LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 3.63Power Grid corporation of India Ltd cRISIL - AAA 3.04Indian Railways Finance corporation Ltd. cRISIL - AAA 2.92National Bank for Agriculture & Rural Development cRISIL - AAA 2.69Bank of Baroda cARE - AAA 2.52Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 2.21


State Bank of India cRISIL - AAA 2.16Reliable Devices Trust (PTc banked by receivables from Reliance Retail Ltd.) IcRA - AAA(SO) 2.00export - Import Bank of India cRISIL - AAA 1.99Reliance Jio Infocomm Ltd. cRISIL - AAA 1.97National Highways Authority of India


NTPc Ltd. cRISIL - AAA 1.61Tata Sons Ltd. cRISIL - AAA 1.13L&T Infrastructure Finance Ltd. cARE - AAA 1.02Small Industries Development Bank of India cARE - AAA 0.79Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA 0.76Andhra Pradesh expressway Ltd. (NHAI Annuity) IcRA - AAA(SO) 0.53NHPc Ltd. cARE - AAA / IND - AAA 0.46Nabha Power Ltd. (corporate Guarantee of L&T Ltd.) IcRA - AAA(SO) 0.42Housing and Urban Development corporation Ltd. IND - AAA 0.40Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA 0.38Toyota Financial Services India Ltd cRISIL - AAA 0.25Gujarat Road and Infra co Ltd IcRA - AAA(SO) 0.21Kotak Mahindra Prime Ltd. cRISIL - AAA 0.21Daimler Fin Ser (I) Pvt Ltd. IND - AAA 0.19Sub Total 83.44Total 91.27MONEY MARKET iNSTRUMENTSCD/CP• Tata Sons Ltd. cRISIL - A1+ 3.72Kotak Mahindra Investments Ltd. cRISIL - A1+ 1.18IcIcI Bank Ltd. cRISIL - A1+ 0.21Small Industries Development Bank IcRA - A1+ 0.08Sub Total 5.19cash, cash Equivalents and Net current Assets 3.54

Grand Total 100.00


^Past performance may or may not be sustained in the future. Load is not taken into consideration for computation of performance. Note: Effective close of business hours of May 8, 2018, HDFc Medium Term Opportunities Fund (HMTOF) underwent changes in Fundamental Attributes and was renamed as HDFc corporate Bond Fund (HcBF) and HDFc Floating Rate Income Fund – Long Term Plan and HDFc Gilt Fund – Short Term Plan were merged therein. As the portfolio structuring of HcBF closely resembles the erstwhile HMTOF, the past performance of HMTOF is provided, in line with SEBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.


n G-Sec, SDL 7.83

n cP 4.90

n cD 0.29




n Sovereign 7.83n AAA/AAA(SO)/A1+/A1+(SO)

& equivalent 88.63n cash, cash Equivalents and


(An open ended debt scheme predominantly investing in AA+ and above rated corporate bonds)HDFC Corporate Bond Fund

PORTFOLIOKEY FACTS

36 February 2019


To generate income/capital appreciation by investing predominantly in AA and below rated corporate debt.


CATEgORY OF SCHEME: credit Risk Fund

FUND MANAgER ¥

Shobhit Mehrotra (since March 25, 14)



March 25, 2014


Regular Plan - Growth Option 15.0326Regular Plan - Dividend Option 13.8417Regular Plan - Quarterly Dividend Option 10.3242Direct Plan - Growth Option 15.6800Direct Plan - Dividend Option 13.7447Direct Plan - Quarterly Dividend Option 10.4523



qUANTiTATiVE DATA

Average Maturity * 2.41 yearsMacaulay Duration * 2.04 yearsModified Duration * 1.87 yearsYield to Maturity * 9.99%

* computed on the invested amount.

#BENCHMARK iNDEX: cRISIL Short Term Bond Fund Index




EXiT lOAD

l In respect of each purchase / switch-in of Units, 15% of the units (“the limit”) may be redeemed without any exit Load from the date of allotment


n In respect of each purchase / switch-in of Units, an exit Load of 1.00% is payable if Units are redeemed / switched-out within 12 months from the date of allotment

n In respect of each purchase / switch-in of Units, an exit Load of 0.50% is payable if Units are redeemed / switched-out after 12 months but within 18 months from the date of allotment

l No exit Load is payable if Units are redeemed / switched-out after 18 months from the date of allotment


PLANS & OPTIONS

Regular Plan, Direct Plan. Under each Plan: Growth, Quarterly Dividend and Normal Dividend. Both Dividend options offers Payout and Reinvestment facilities.




Face Value per Unit: ` 10 unless otherwise specified, Data is as of February 28, 2019 unless otherwise specified. ≈ Based on long term rating.



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 5.95 7.51 8.77 10,595 10,751 10,877Feb 29, 16 Last 3 Years 7.55 7.57 6.23 12,440 12,446 11,987Mar 25, 14 Since Inception 8.61 8.20 7.94 15,033 14,753 14,578

The above returns are for Regular Plan - Growth Option. Returns greater than 1 year period are compounded annualized (cAGR). The Scheme is in existence for more than 1 year but less than 5 years. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. Load is not taken into consideration for computation of performance. For performance of other schemes managed by Shobhit Mehrotra, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 58.


l income over short to medium terml to generate income/capital appreciation by investing

predominantly in AA and below rated corporate debt (excluding AA+ rated corporate bonds)

Riskometer

Investors understand that their principal will be at moderate risk


Note: Effective close of business hours of May 8, 2018, HDFc corporate Debt Opportunities Fund (HcDOF) underwent changes in Fundamental Attributes and was renamed as HDFc credit Risk Debt Fund (HcRDF) and HDFc Regular Savings Fund was merged therein. As the portfolio structuring of HcRDF closely resembles the erstwhile HcDOF, the past performance of HcDOF is provided, in line with SeBI circular on Performance disclosure post consolidation/ merger of scheme dated April 12, 2018.


n SDL 0.31

n cP 3.52



Portfolio Classification By issuer Rating Class (%) ≈




[An open ended debt scheme predominantly investing in AA andbelow rated corporate bonds (excluding AA+ rated corporate bonds)]HDFC Credit Risk Debt Fund

PORTFOLIO

KEY FACTS

Company Industry+ / Security Rating


DEBT & DEBT RElATED


8.39% Rajasthan SDL - Mat 150322 Sovereign Sovereign 0.31

Sub Total 0.31

CREDiT EXPOSURE

• HPcL-Mittal Energy Ltd. IcRA - AA+ IcRA - AA+ 4.50

• Vedanta Ltd. cRISIL - AA cRISIL - AA 4.37

• TATA International Ltd. cARE - A+ IcRA - A 4.23

• Rural Electrification corporation Ltd. cARE - AAA / cRISIL - AAA cRISIL - AAA 3.27

• Tata Steel Ltd. cARE - AA / cARE - AA- cARE - AA 3.03

• The Tata Power company Ltd. cARE - AA / cRISIL - AA- cRISIL - AA- 2.99

• Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA / cRISIL - AAA cRISIL - AAA 2.79



• HDFc Bank Ltd. cARE - AA+ cRISIL - AAA 2.73

• Muthoot Finance Ltd. cRISIL - AA / IcRA - AA IcRA - AA- 2.64

• Punjab National Bank cARE - A+ IcRA - AA- 2.46

Dilip Buildcon Ltd. cRISIL - A cRISIL - A 2.40

Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA cRISIL - AAA 2.26

Talwandi Sabo Power Ltd (corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) IND - A+ 2.25

DB consolidated Pvt. Ltd. (Dainik Bhaskar Group company) NA - UNRATeD INTERNAL - A-(SO) 1.84

Tata Sky Ltd. (Subsidiary of Tata Sons) cRISIL - AA cRISIL - AA 1.80

Reliance Jio Infocomm Ltd. cRISIL - AAA cRISIL - AAA 1.68

coastal Gujarat Power Ltd. (corporate Guarantee of Tata Power) cARE - AA(SO) cARE - AA(SO) 1.66

Adani Transmission Ltd. IND - AA+ IND - AA+ 1.64

February 2019 37


Face Value per Unit: ̀ 10 unless otherwise specified, + Industry classification as recommended by AMFI, cD - certificate of Deposit; cP - commercial Papers, Data is as of February 28, 2019 unless otherwise specified.

[An open ended debt scheme predominantly investing in AA and below rated corporate bonds (excluding AA+ rated corporate bonds)] .....Contd from previous pageHDFC Credit Risk Debt Fund

PORTFOLIO



Prism Johnson Ltd. IcRA - A- / IND - A- IcRA - A- 1.63

Sansar Trust Nov 2018 (PTc of pools from Shriram Transport Finance company Ltd.) IcRA - AAA(SO) IcRA - AAA(SO) 1.56

Sadbhav Infrastructure Project Ltd. (corporate Guarantee of Sadbhav engineering Ltd.) cARE - A(SO) cARE - A(SO) 1.56

Nuvoco Vistas corporation Ltd. (100% subsidiary of Nirma Ltd. & erstwhile Lafarge India Ltd.) cRISIL - AA cRISIL - AA 1.34

TMF Holdings Ltd. (Subsidiary of Tata Motors Ltd.) cRISIL - AA cRISIL - AA 1.22

JM Financial Asset Reconstruction company Ltd. IcRA - AA- cRISIL - AA- 1.16

Bajaj electricals Ltd. IcRA - A+ NA - A+ 1.13

Hindalco Industries Ltd cRISIL - AA cRISIL - AA 1.05

Primat Infrapower & Multiventures Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd. & Dish TV Ltd.)

BRIcKWORKS - A(SO) / BRIcKWORKS - A+(SO) BRIcKWORKS - A(SO) 1.05

Hinduja Leyland Finance Ltd cARE - AA- cARE - AA- 0.95

Indiabulls Housing Finance Ltd. cARE - AAA / cRISIL - AAA cRISIL - AA+ 0.93

Reliable Devices Trust (PTc banked by receivables from Reliance Retail Ltd.) IcRA - AAA(SO) IcRA - AAA(SO) 0.93

Shriram Transport Finance company Ltd. cARE - AA+ / cRISIL - AA+ / IND - AA+ cRISIL - AA+ 0.88

GeRA Development Private Ltd. cARE - AA- cARE - AA- 0.87

Power Grid corporation of India Ltd. cRISIL - AAA cRISIL - AAA 0.86

Tata Motors Ltd. cARE - AA cRISIL - AA 0.84

Starlite Lighting Ltd. (corporate Guarantee of Bajaj electrical Ltd.) IcRA - A+(SO) IcRA - A+(SO) 0.81

Syndicate Bank cARE - A+ cRISIL - AA 0.77

KEc International Ltd. IcRA - AA- cARE - AA- 0.76

Simplex Infrastructures Ltd. cARE - A- cARE - A- 0.76

TATA Housing Development company Ltd. IcRA - AA cARE - AA 0.76

Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA / IcRA - AAA cRISIL - AAA 0.74

Tata Motors Finance Ltd. cARE - AA cRISIL - AA 0.70

Union Bank of India IND - AA cARE - AA- 0.69

NTPc Ltd. cRISIL - AAA cRISIL - AAA 0.65

Tata Realty and Infrastructure Ltd. cRISIL - AA cRISIL - AA 0.63

Bharat Petroleum corporation Ltd. cRISIL - AAA cRISIL - AAA 0.61

emami Realty Ltd. (Secured with shares of emami Ltd.) BRIcKWORKS - AA-(SO) BRIcKWORKS - AA-(SO) 0.61

Housing Development Finance corporation Ltd.£ cRISIL - AAA cRISIL - AAA 0.61

Raj Infra Properties Pvt. Ltd. (Secured with shares of emami Ltd.) BRIcKWORKS - AA-(SO) BRIcKWORKS - AA-(SO) 0.61

Indostar capital Finance Ltd. cARE - AA- cARE - AA- 0.60

Tata capital Financial Services Ltd IcRA - AAA cRISIL - AAA 0.60

cholamandalam Investment & Finance company Ltd.

cRISIL - AA+ / IcRA - AA+ cARE - AA 0.59

Axis Bank Ltd. cRISIL - AA+ cRISIL - AAA 0.59

Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.50

Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.50

Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.50

elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.50

Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.50

SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) BRIcKWORKS - AA-(SO) 0.50

SeI enerstar Renewable energy Pvt Ltd (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.50

SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.50

Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.50

Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.50



APL Apollo Tubes Ltd. cARE - AA- cARE - AA- 0.43

Andhra Bank cARE - A+ cRISIL - AA 0.41

PNB Housing Finance Ltd. IND - AA+ cRISIL - AA+ 0.38

Aarti Industries Ltd. cRISIL - AA- cRISIL - AA- 0.37

Au Small Finance Bank Ltd. IND - AA- cARE - A+ 0.37

Repco Home Finance Ltd cARE - AA / cRISIL - AA IcRA - AA- 0.36

Inox Air Products Pvt. Ltd. cRISIL - AA cRISIL - AA 0.35

Raviraj Viniyog Pvt. Ltd. (Secured with shares of emami Ltd.) BRIcKWORKS - AA-(SO) BRIcKWORKS - AA-(SO) 0.34

JM Financial credit Solutions Ltd IcRA - AA cRISIL - AA 0.32

HDB Financial Services Ltd. cRISIL - AAA cRISIL - AAA 0.30

India Infoline Finance Ltd. IcRA - AA cRISIL - AA 0.30

L&T Finance Ltd. cARE - AAA cARE - AAA 0.30

L&T Housing Finance Ltd. cARE - AA+ cARE - AAA 0.30

Prabhakar Viniyog Pvt. Ltd. (Secured with shares of emami Ltd.) BRIcKWORKS - AA-(SO) IND - AA-(SO) 0.30

edisons Infrapower & Multiventures Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd. & Dish TV Ltd.) BRIcKWORKS - A(SO) BRIcKWORKS - A(SO) 0.29

KKR India Financial Services Pvt Ltd. cRISIL - AA+ cRISIL - AA+ 0.25

Aspire Home Finance corporation Ltd (Subsidiary of Motilal Oswal Financial Services Ltd.) cRISIL - A+ / IcRA - A+ cRISIL - A+ 0.22

century Textiles & Industries Ltd. cRISIL - AA cARE - AA- 0.20

Arm Infra & Utilities Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd.)

BRIcKWORKS - A(SO) / BRIcKWORKS - A+(SO) BRIcKWORKS - A(SO) 0.17

Hazaribagh Ranchi expressway Ltd. (NHAI Annuity) cARE - BB cARE - BB 0.17

EcL Finance Ltd. cARE - AA cRISIL - AA 0.16

G R Infraprojects Ltd. cARE - AA- cARE - AA- 0.15

Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India) cRISIL - AAA(SO) cRISIL - AAA(SO) 0.15

Reliance Industries Ltd. cRISIL - AAA cRISIL - AAA 0.15

Sundaram Finance Ltd. IcRA - AAA IND - AA+ 0.15

Kalpataru Power Transmission Ltd. cRISIL - AA cRISIL - AA 0.13

Asian Satellite Broadcast Pvt. Ltd (Secured with shares of Zee entertainment enterprise Ltd.) BRIcKWORKS - A+(SO) BRIcKWORKS - A(SO) 0.12

NHPc Ltd. IcRA - AAA cRISIL - AAA 0.12

Volkswagen Finance Private Ltd. IND - AAA IND - AAA 0.11

Aavas Financiers Ltd. (Formerly known as Au Housing Finance Ltd.) IcRA - A+ cRISIL - A 0.09

LIc Housing Finance Ltd. cRISIL - AAA cRISIL - AAA 0.07

PETRONET LNG Ltd. cRISIL - AAA cRISIL - AA+ 0.06

Sprit Infrapower & Multiventures Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd. & Dish TV Ltd.) BRIcKWORKS - A(SO) BRIcKWORKS - A(SO) 0.06

Vijaya Bank cARE - AA- IND - AA- 0.06

Tata Sons Ltd. cRISIL - AAA cRISIL - AAA 0.05

Tube Investments of India Ltd. cRISIL - AA+ cRISIL - AA+ 0.02

Sub Total 91.37

TOTAL 91.68

CD/CP

Simplex Infrastructures Ltd. cARE - A2+ cARE - A- 1.83

Reliance Jio Infocomm Ltd. cARE - A1+ cRISIL - AAA 0.92

Bajaj electricals Ltd. IcRA - A1+ NA - A+ 0.31

JM Financial Products Ltd. IcRA - A1+ cRISIL - AA 0.31

Aditya Birla Money Ltd. IND - A1+ INTERNAL - AA+ 0.15

Sub Total 3.52


Grand Total 100.00


38 February 2019

iNVESTMENT OBjECTiVETo generate income / capital appreciation through investments in debt and money market instruments consisting predominantly of securities issued by entities such as Scheduled commercial Banks (ScBs), Public Sector undertakings (PSUs), Public Financial Institutions (PFIs), Municipal corporations and such other bodies.


CATEgORY OF SCHEME: Banking and PSU Fund

FUND MANAgER ¥

Anil Bamboli (since March 26, 14)


iNCEPTiON DATE (Date of Allotment)March 26, 2014



qUANTiTATiVE DATAAverage Maturity * 2.52 yearsMacaulay Duration * 2.14 yearsModified Duration * 1.98 yearsYield to Maturity * 8.77%* computed on the invested amount.



##ADDl. BENCHMARK iNDEX: cRISIL 1 year T-Bill Index

EXiT lOADNil

PLANS & OPTIONSRegular Plan, Direct Plan. Under each Plan: Growth & Dividend. The Dividend Option offers Dividend Payout and Reinvestment facility.

MiNiMUM APPliCATiON AMOUNTPurchase : ` 5,000 and any amount thereafter. Additional Purchase : ` 1,000 and any amount thereafter.


Face Value per Unit: ` 10 unless otherwise specified, Data is as of February 28, 2019 unless otherwise specified.



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##


The above returns are for Regular Plan - Growth Option. Returns greater than 1 year period are compounded annualized (cAGR). The Scheme is in existence for more than 1 year but less than 5 years. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 48. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 62.


l income over short to medium term.l to generate income / capital appreciation through investments

in debt and money market instruments consisting predominantly of securities issued by entities such as Scheduled commercial Banks (ScBs), Public Sector undertakings (PSUs), Public Financial Institutions (PFIs), Municipal corporations and such other bodies

Riskometer




DEBT & DEBT RElATED

CREDiT EXPOSURE


cARE - AAA / cRISIL - AAA / IcRA - AAA 9.19

• National Highways Authority of India cRISIL - AAA 8.71

• Power Grid corporation of India Ltd cRISIL - AAA 7.19

• Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 6.61

• Bank of Baroda cARE - AA / cARE - AAA 6.28

• Rural Electrification corporation Ltd. cRISIL - AAA / IND - AAA 5.32

• M a h a n a g a r Te l e p h o n e Nigam Ltd. (corporate guarantee from Govt of India)

cARE - AAA(SO) / cRISIL - AAA / cRISIL - AAA(SO) 5.05

• Union Bank of India cARE - AA- / IND - AA 4.63


• TATA International Ltd. cARE - A+ 4.32

export - Import Bank of India cRISIL - AAA 2.31




Small Industries Development Bank cARE - AAA 1.76

NTPc Ltd. cRISIL - AAA 1.69

LIc Housing Finance Ltd. cRISIL - AAA 1.58


Vijaya Bank cARE - AA- 1.39

State Bank of India cRISIL - AA+ / cRISIL - AAA 0.94


National Bank for Agriculture & Rural Development cRISIL - AAA 0.88


Indian Railways Finance corportion Ltd. cRISIL - AAA 0.84


Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) 0.41

Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) 0.41

elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) 0.41

Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) 0.41

SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) 0.41

SeI enerstar Renewable energy Pvt. Ltd. (Greenko) cARE - AA-(SO) 0.41

SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) 0.41

Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) 0.41

Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) 0.41

Housing Development Finance corporation Ltd.£

cRISIL - AAA / IcRA - AAA 0.38

Hazaribagh Ranchi expresswayLtd. (NHAI Annuity) cARE - BB 0.20

Sub Total 86.27


CD/CP

Axis Bank Ltd. cRISIL - A1+ 1.62

Sub Total 1.62


Grand Total 100.00




n cD 1.62




n AAA/AAA(SO)/A1+/A1+(SO) & equivalent 56.62

n AA+ 1.93n AA/AA- 16.87n A+ & Below 12.47n cash, cash Equivalents and


(An open ended debt scheme predominantly investing in debt instruments of banks, public sector undertakings, public financial institutions and municipal bonds)HDFC Banking and PSU Debt Fund

PORTFOLIOKEY FACTS

February 2019 39


To generate credit risk-free returns through investments in sovereign securities issued by the central Government and/or State Government.


CATEgORY OF SCHEME: Gilt Fund

FUND MANAgER ¥

Anil Bamboli (since September 1, 07)



July 25, 2001





qUANTiTATiVE DATA




#BENCHMARK iNDEX: cRISIL Dynamic Gilt Index


EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Under both the Plans: Growth & Dividend Option (Dividend Option offers Dividend Payout and Reinvestment facility.







(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 7.32 8.93 8.77 10,732 10,893 10,877Feb 29, 16 Last 3 Years 8.15 7.53 6.23 12,648 12,435 11,987Feb 28, 14 Last 5 Years 9.49 9.26 8.05 15,739 15,576 14,734Jul 25, 01 Since Inception 7.69 8.17 N.A. 36,868 39,852 N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 61.


l credit risk free returns over medium to long term

l to generate credit risk-free returns through investments in sovereign securities issued by the central Government and / or State Government

Riskometer




n G-Sec, SDL, T-Bills 87.89



n Sovereign 87.89n cash, cash Equivalents and


(An open ended debt scheme investing in government securities across maturities)HDFC Gilt Fund


DEBT & DEBT RElATED


• 7.17 GOI 2028 Sovereign 21.72




• 8.21% Rajasthan (UDAY) SDL - Mat 310322 Sovereign 4.35

• 8.60% Rajasthan SDL- Mat 061128 Sovereign 4.35

• 8.61% Uttar Pradesh SDL (UDAY) - Mat 210322 Sovereign 3.37



8.39% Rajasthan SDL - Mat 150322 Sovereign 2.19

8.21% Haryana SDL - Mat 310322 Sovereign 2.18

7.86% Rajasthan SDL (UDAY Scheme- Strip II ) - ISD 230616 Mat 230619 Sovereign 2.15



8.66% Maharashtra SDL - Mat 250122 Sovereign 1.32






Sub Total 68.60

T-BillS

• 182 Days TBill - Mat 080319 Sovereign 19.29

Sub Total 19.29

Total 87.89


Grand Total 100.00


Outstanding exposure in derivative instruments Interest Rate Swap (` in crore) 35.00

PORTFOLIOKEY FACTS

40 February 2019


To generate income / capital appreciation by investing in a range of debt and money market instruments.


CATEgORY OF SCHEME: Dynamic Bond Fund

FUND MANAgER ¥

Anil Bamboli (since February 16, 04)



April 28, 1997


Regular Plan - Growth Option 59.4439Regular Plan - Quarterly Dividend Option 11.6713Regular Plan - Half-Yearly Dividend Option 11.3188Regular Plan - Yearly Dividend Option 12.7646Regular Plan - Normal Dividend Option 12.7346Direct Plan - Growth Option 62.2490Direct Plan - Quarterly Dividend Option 12.2607Direct Plan - Half-Yearly Dividend Option 12.3671Direct Plan - Yearly Dividend Option 13.4156Direct Plan - Normal Dividend Option 13.1069



qUANTiTATiVE DATA






EXiT lOAD

l In respect of each purchase / switch-in of Units, an exit Load of 0.50% is payable if Units are redeemed / switched-out within 6 months from the date of allotment.

l No exit Load is payable if Units are redeemed / switched-out after 6 months from the date of allotment.


PLANS & OPTIONS

Regular Plan, Direct Plan. Under each Plan: Growth, Normal Dividend, Quarterly Dividend, Half Yearly Dividend, & Yearly Dividend. All Dividend Options offer Payout and Reinvestment facility.







(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 3.05 7.13 8.77 10,305 10,713 10,877Feb 29, 16 Last 3 Years 6.38 7.64 6.23 12,040 12,470 11,987Feb 28, 14 Last 5 Years 7.89 9.04 8.05 14,624 15,420 14,734Apr 28, 97 Since Inception 8.50 N.A. N.A. 59,444 N.A. N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 61.


l income over medium to long term

l to generate income / capital appreciation by investing in a range of debt and money market instruments

Riskometer





n G-Sec, SDL 24.17





& equivalent 44.34n AA/AA- 13.08n A+ & Below 13.12n cash, cash Equivalents and


(An open ended dynamic debt scheme investing across duration)HDFC Dynamic Debt Fund


DEBT & DEBT RElATED



• 8.21% Rajasthan (UDAY) SDL - Mat 310322 Sovereign 5.71


8.21% Haryana SDL - Mat 310322 Sovereign 3.22


7.42% Maharashtra SDL - Mat 110522 Sovereign 1.65


8.68% Gujarat SDL - Mat 060223. Sovereign 0.65

8.51% Punjab SDL - Mat 100423 Sovereign 0.10


8.26% Maharashtra SDL - ISD 120815 Mat 120825 Sovereign 0.08

8.19% Rajasthan SDL (UDAY Scheme- Strip Ix ) - ISD 230616 Mat 230626 Sovereign @

Sub Total 24.17

CREDiT EXPOSURE

• Power Finance corporation Ltd. cARE - AAA 9.40

• Union Bank of India cARE - AA- 9.35

• Hazaribagh Ranchi Expressway Ltd. (NHAI Annuity) cARE - BB 6.98

• State Bank of India cARE - AAA(SO)/cRISIL - AAA 6.40


• Reliance Industries Ltd. cRISIL - AAA 6.34


• Small Industries Development Bank of India cARE - AAA 3.65

• LIc Housing Finance Ltd. cRISIL - AAA 3.55

Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India) cARE - AAA(SO) 3.30

Rural Electrification corporation Ltd. IND - AAA 3.10


Housing Development Finance corporation Ltd.£ IcRA - AAA 3.04

Reliance Jio Infocomm Ltd. cRISIL - AAA 3.04

Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cRISIL - AAA 1.79



Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA 0.65

NTPc Ltd. cRISIL - AAA 0.08

Sub Total 70.54

Total 94.71


Grand Total 100.00

• Top Ten Holdings, £ co-sponsor, @ less than 0.01%


PORTFOLIOKEY FACTS

February 2019 41


To generate income / capital appreciation through investments in debt and money market instruments.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Medium to Long Duration Fund

FUND MANAgER ¥

Shobhit Mehrotra (since September 11, 07)



September 11, 2000


Regular Plan - Growth Option 39.5727Regular Plan - Quarterly Dividend Option 10.8606Regular Plan - Normal Dividend Option 12.4784Direct Plan - Growth Option 41.4931Direct Plan - Quarterly Dividend Option 11.4535Direct Plan - Normal Dividend Option 13.1216



qUANTiTATiVE DATA






EXiT lOAD

l In respect of each purchase / switch-in of Units, an exit Load of 0.25% is payable if Units are redeemed / switched-out within 1 month from the date of allotment.

l No exit Load is payable if Units are redeemed / switched-out after 1 month from the date of allotment.


PLANS & OPTIONS

Regular Plan, Direct Plan. Under each Plan : Growth, Quarterly Dividend & Normal Dividend. Both Dividend Options offer Payout and Reinvestment facility.






(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 5.51 7.13 8.77 10,551 10,713 10,877Feb 29, 16 Last 3 Years 6.50 7.64 6.23 12,079 12,470 11,987Feb 28, 14 Last 5 Years 7.87 9.04 8.05 14,611 15,420 14,734Sep 11, 00 Since Inception 7.73 N.A. N.A. 39,573 N.A. N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Shobhit Mehrotra, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 58.



l income over medium to long term

l to generate income / capital appreciation through investments in debt and money market instruments

Riskometer





n G-Sec 23.35







[An open ended medium term debt scheme investing in instruments such that the Macaulay Duration of the Portfolio is between 4 years and 7 years (Refer page 2 for definition of Macaulay Duration)]HDFC Income Fund


DEBT & DEBT RElATED


• 7.17 GOI 2028 Sovereign 18.76






9.15 GOI 2024 Sovereign @

Sub Total 23.35

CREDiT EXPOSURE

• Punjab National Bank cARE - A+ 8.88

• Power Finance corporation Ltd cARE - AAA / cRISIL - AAA 8.05

• Indian Railways Finance corporation Ltd. cARE - AAA / cRISIL - AAA 7.83

• The Tata Power company Ltd. cRISIL - AA- 7.05


• NTPc Ltd. cRISIL - AAA 6.30

• National Bank for Agriculture & Rural Development cRISIL - AAA 6.12

• Reliance Jio Infocomm Ltd. IcRA - AAA 5.95

• State Bank of India cRISIL - AA+ 4.03

• Tata Steel Ltd. cARE - AA- 3.21

LIc Housing Finance Ltd. cARE - AAA 3.15

export - Import Bank of India cRISIL - AA+ 3.06

National Highways Authority of India cRISIL - AAA 3.05


Sub Total 67.27

Total 90.62


Grand Total 100.00

• Top Ten Holdings, @ less than 0.01%

PORTFOLIOKEY FACTS

42 February 2019



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 6.25 7.51 7.48 10,625 10,751 10,748Feb 29, 16 Last 3 Years 7.57 7.57 6.79 12,447 12,446 12,177Feb 28, 14 Last 5 Years 8.13 8.29 7.41 14,782 14,895 14,296Feb 06, 02 Since Inception 7.84 N.A. 6.05 36,288 N.A. 27,273

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Shobhit Mehrotra, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 58.


To generate income / capital appreciation through investments in Debt and Money Market Instruments.


CATEgORY OF SCHEME: Medium Duration Fund

FUND MANAgER ¥

Shobhit Mehrotra (since September 1, 07)



February 6, 2002


Regular Plan - Growth Option 36.2877Regular Plan - Dividend Option 13.7684Regular Plan - Fortnightly Dividend Option 10.5694Direct Plan - Growth Option 37.5870Direct Plan - Dividend Option 14.0719Direct Plan - Fortnightly Dividend Option 10.6023



qUANTiTATiVE DATA






EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Under both the Plans : Growth, Normal Dividend & Fortnightly Dividend. Both Dividend Options offer Payout and Reinvestment facility.






l income over medium terml to generate income / capital appreciation through

investments in Debt and Money Market Instruments

Riskometer




[An open ended medium term debt scheme investing in instruments such that the Macaulay Duration of the portfolio is between 3 years and 4 years (Refer page 2 for definition of Macaulay Duration)]HDFC Medium Term Debt Fund


DEBT & DEBT RElATED





Sub Total 4.46

CREDiT EXPOSURE

• Rural electrification corporation Ltd. cRISIL - AAA 8.92

• HPcL-Mittal Energy Ltd. IcRA - AA+ 7.72

• Power Finance corporation Ltd. cRISIL - AAA 7.45


• Indiabulls Housing Finance Ltd. BRIcKWORKS - AAA / cRISIL - AAA 5.99

• Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA 5.58

• Housing and Urban Development corporation Ltd. IcRA - AAA 4.52

• HDFc Bank Ltd. cARE - AA+ 4.45


• Muthoot Finance Ltd IcRA - AA 3.48


Reliable Devices Trust (PTc banked by receivables from Reliance Retail Ltd.) IcRA - AAA(SO) 2.34

National Bank for Agriculture & Rural Development cRISIL - AAA 2.27

Reliance Jio Infocomm Ltd. cRISIL - AAA 2.25

coastal Gujarat Power Ltd. (corporate Guarantee of Tata Power) cARE - AA(SO) 2.22



JM Financial Asset Reconstruction company Ltd. IcRA - AA- 1.85


Talwandi Sabo Power Ltd (corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) 1.76

Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA 1.65

M a h a n a g a r Te l e p h o n e Nigam Ltd. (corporate guarantee from Govt of India) cRISIL - AAA(SO) 0.92




Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) 0.42

Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) 0.42

Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) 0.42

elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) 0.42

Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) 0.42

SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) 0.42

SeI enerstar Renewable energy Pvt Ltd (Greenko) cARE - AA-(SO) 0.42

SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) 0.42

Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) 0.42

Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) 0.42

Sub Total 88.46

Total 92.92


Grand Total 100.00


PORTFOLIOKEY FACTS


n G-Sec 4.46




n Sovereign 4.46n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent 52.07n AA+ 12.17n AA/AA- 17.20n A+ & Below 7.02n cash, cash Equivalents and Net

current Assets 7.08

February 2019 43



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 7.42 7.51 7.48 10,742 10,751 10,748Feb 29, 16 Last 3 Years 7.67 7.57 6.79 12,483 12,446 12,177Feb 28, 14 Last 5 Years 8.35 8.29 7.41 14,936 14,895 14,296Jun 25, 10 Since Inception 8.55 8.08 6.92 20,390 19,644 17,882

Returns greater than 1 year period are compounded annualized (cAGR). Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 61.

Face Value per Unit: ` 10 unless otherwise specified, cD - certificate of Deposit; cP - commercial Papers. Data is as of February 28, 2019 unless otherwise specified.


To generate income / capital appreciation through investments in Debt and Money Market Instruments.


CATEgORY OF SCHEME: Short Duration Fund

FUND MANAgER ¥

Anil Bamboli (since June 25, 10)



June 25, 2010


Regular Plan - Growth Option 20.3902Regular Plan - Fortnightly Dividend Option 10.2196Regular Plan - Normal Dividend Option 13.7097Direct Plan - Growth Option 20.5768Direct Plan - Fortnightly Dividend Option 10.2798Direct Plan - Normal Dividend Option 13.7559



qUANTiTATiVE DATA






EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Under each Plan: Growth, Fortnightly Dividend & Normal Dividend. Both Dividend options offer Payout and Reinvestment facilities.






l to generate income / capital appreciation through investments in Debt and Money Market Instruments

Riskometer




[An open ended short term debt scheme investing in instruments such that the Macaulay Duration of the portfolio is between 1 year and 3 years (Refer page 2 for definition of Macaulay Duration)]HDFC Short Term Debt Fund


DEBT & DEBT RElATED



Sub Total 0.05

CREDiT EXPOSURE

• Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA 12.51

• Housing Development Finance corporation Ltd.£

cRISIL - AAA / IcRA - AAA 9.60

• Rural Electrification corporation Ltd. cRISIL - AAA / IND - AAA 8.92

• ONGc Petro additions Ltd. (OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 7.58


• Indiabulls Housing Finance Ltd. BRIcKWORKS - AAA 6.21

• Reliance Jio Infocomm Ltd. cRISIL - AAA / cRISIL - AAA(SO) / IcRA - AAA 5.64

• National Bank for Agriculture & Rural Development cRISIL - AAA / IND - AAA 4.01

• Tata capital Financial Services Ltd. IcRA - AAA 3.72


M&M Financial Services Ltd. cARE - AAA / IND - AAA 3.53

Housing and Urban Development corporation Ltd. IcRA - AAA / IND - AAA 3.41

Reliance Industries Ltd. cRISIL - AAA / IcRA - AAA 3.36


Sansar Trust Nov 2018 (PTc of pools from Shriram Transport Finance company Ltd.) IcRA - AAA(SO) 1.76



Small Industries Development Bank of India cARE - AAA 1.40


Bajaj Finance Ltd. cRISIL - AAA / IND - AAA 1.35


Aditya Birla Finance Ltd. IcRA - AAA / IND - AAA 0.76

Fullerton India Home Finance company Ltd. cARE - AA+ 0.68


Talwandi Sabo Power Ltd (corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) 0.67


L&T Finance Ltd. cARE - AAA 0.55

Hazaribagh Ranchi expressway Ltd. (NHAI Annuity) cARE - BB 0.49

canFin Homes Ltd cARE - AAA 0.47

Indian Railways Finance corporation Ltd. IcRA - AAA 0.34

Toyota Financial Services India Ltd cRISIL - AAA 0.34

NHPc Ltd. IcRA - AAA 0.27

Power Grid corporation of India Ltd cRISIL - AAA 0.06

Sub Total 96.18

Total 96.23


Grand Total 100.00


PORTFOLIOKEY FACTS


n G-Sec, SDL 0.05







44 February 2019


To generate income / capital appreciation through investment in debt securities and money market instruments.There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Low Duration Fund

FUND MANAgER ¥




November 18, 1999

NAV (AS ON FEBRUARY 28, 2019)^^ NAV PER UNiT (`)

Retail OptionRegular Plan - Growth Option 38.7670Regular Plan - Daily Dividend Reinvestment Option 10.1428Regular Plan - Weekly Dividend Option 10.1605Regular Plan - Monthly Dividend Option 10.1425Direct Plan - Growth Option 40.4668Direct Plan - Daily Dividend Reinvestment Option 10.0655Direct Plan - Weekly Dividend Option 10.1906Direct Plan - Monthly Dividend Option 10.1455Wholesale OptionRegular Plan - Growth Option 41.1521Regular Plan - Daily Dividend Reinvestment Option 10.1574Regular Plan - Weekly Dividend Option 10.1625Regular Plan - Monthly Dividend Option 10.1630



qUANTiTATiVE DATA

Average Maturity * 289 daysMacaulay Duration * 269 daysModified Duration * 245 daysYield to Maturity * 8.08%* computed on the invested amount.



#BENCHMARK iNDEX: cRISIL Liquid Fund Index


EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Retail Option: Each Plan offers Growth and Dividend Option. Dividend Option offers Daily Dividend Option with Reinvestment facility only and Weekly and Monthly Dividend Option with Payout and Reinvestment facility.


Retail Option : Growth, Weekly and Monthly Dividend Option: Purchase : ` 5,000 and any amount thereafter. Additional Purchase : ̀ 1,000 and any amount thereafter. Daily Dividend Option : Purchase : ` 10,000 and any amount thereafter. Additional Purchase : ` 5,000 and any amount thereafter.


^^ calculated on all calendar days.



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 7.00 7.68 7.48 10,700 10,768 10,748Feb 29, 16 Last 3 Years 7.25 7.25 6.79 12,338 12,338 12,177Feb 28, 14 Last 5 Years 7.50 7.78 7.41 14,359 14,550 14,296Nov 18, 99 Since Inception 7.28 N.A. 6.49 38,767 N.A. 33,669

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anupam Joshi, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.




l to generate income / capital appreciation through investmentin debt securities and money market instruments

Riskometer



Portfolio Classification by Asset Class (%)

n G-Sec, SDL 1.50

n cP 13.94

n cD 15.10



Portfolio Classification by Rating Class (%)



current Assets 9.01

[An open ended low duration debt scheme investing in instruments such that the Macaulay Duration of the portfolio is between 6 months and 12 months (Refer page 2 for definition of Macaulay Duration)]HDFC Low Duration Fund


DEBT & DEBT RElATEDgOVERNMENT SECURiTiES (CENTRAl/STATE)7.17 GOI 2028 Sovereign 0.807.86% Rajasthan SDL (UDAY Scheme- Strip II ) - ISD 230616 Mat 230619 Sovereign 0.627.65% Karnataka SDL - Mat 061227 Sovereign 0.086.79 GOI 2027 Sovereign @6.84 GOI 2022 Sovereign @Sub Total 1.50CREDiT EXPOSURE • Housing Development

Finance corporation Ltd. £ cRISIL - AAA 6.50• National Bank for Agriculture

& Rural Development cRISIL - AAA / IND - AAA 5.26• ONGc Petro additions Ltd.

(OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 4.75• National Housing Bank cARE - AAA 4.13• Power Finance corporation Ltd. cRISIL - AAA 3.51• Rural Electrification

corporation Ltd. cRISIL - AAA 3.44• Power Grid corporation of

India LtdcARE - AAA / cRISIL - AAA 3.35

Nuvoco Vistas corporation Ltd. (100% subsidiary of Nirma Ltd. & erstwhile Lafarge India Ltd.) cRISIL - AA 2.39Indian Railways Finance corp. Ltd.


Tata capital Financial Services Ltd. cRISIL - AAA / IcRA - AAA 1.85Union Bank of India cARE - AA- 1.70ONGc Mangalore Petrochemicals Ltd. IND - AAA 1.64Reliable Devices Trust (PTc banked by receivables from Reliance Retail Ltd.) IcRA - AAA(SO) 1.55Petronet LNG Ltd. cRISIL - AAA 1.45Syndicate Bank cARE - A+ 1.41canara Bank cRISIL - AA 1.39L&T Finance Ltd. cARE - AAA 1.23State Bank of India cRISIL - AA+ 1.23Punjab National Bank cARE - A+ 1.16Reliance Jio Infocomm Ltd. cRISIL - AAA 1.07Tata Motors Ltd. cARE - AA 1.03M&M Financial Services Ltd. IND - AAA 1.00Housing and Urban Development corporation Ltd. IcRA - AAA 0.82Shriram Transport Finance company Ltd. IND - AA+ 0.81Axis Bank Ltd. cRISIL - AA+ 0.80KKR India Financial Services Pvt Ltd. cRISIL - AA+ 0.68Vedanta Ltd. cRISIL - AA 0.65IcIcI Home Finance Ltd IcRA - AAA 0.62Adani Transmission Ltd. IND - AA+ 0.61NRSS xxIx Transmission Ltd. cRISIL - AAA 0.42


export - Import Bank of India cRISIL - AAA 0.41The Tata Power company Ltd. IcRA - AA- 0.41Kotak Mahindra Prime Ltd. cRISIL - AAA 0.29LIc Housing Finance Ltd. cRISIL - AAA 0.12NTPc Ltd. cRISIL - AAA 0.07HDB Financial Services Ltd. cRISIL - AAA 0.06Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) 0.04Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) 0.04Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) 0.04elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) 0.04Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) 0.04SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) 0.04SeI enerstar Renewable energy Pvt Ltd (Greenko) cARE - AA-(SO) 0.04SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) 0.04Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) 0.04Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) 0.04Sub Total 60.45Total 61.95MONEY MARKET iNSTRUMENTSCD/CP • Indiabulls Housing Finance Ltd. cRISIL - A1+ 4.12• Indusind Bank Ltd. cRISIL - A1+ 3.96• PNB Housing Finance Ltd. cARE - A1+ 3.23Axis Bank Ltd. cRISIL - A1+ 2.97IDFc First Bank Ltd. cRISIL - A1+ 2.60LIc Housing Finance Ltd. cRISIL - A1+ 2.16The Federal Bank Ltd. cARE - A1+ 2.11National Bank for Agriculture & Rural Development cRISIL - A1+ 1.92Kotak Mahindra Bank Ltd. cRISIL - A1+ 1.54Tata Sons Ltd. cRISIL - A1+ 1.34Deutsche Investments India Pvt. Ltd. cRISIL - A1+ 1.09Shriram Transport Finance company Ltd. cRISIL - A1+ 0.81L&T Finance Ltd. cARE - A1+ 0.61Kotak Mahindra Investments Ltd. cRISIL - A1+ 0.38Tata capital Financial Services Ltd. IcRA - A1+ 0.20Sub Total 29.04cash, cash Equivalents and Net current Assets 9.01Grand Total 100.00• Top Ten Holdings, £ co-sponsor, @ less than 0.01%


PORTFOLIOKEY FACTS

February 2019 45


To generate income / capital appreciation by investing in money market instruments.


CATEgORY OF SCHEME: Money Market Fund

FUND MANAgER ¥

Anil Bamboli (since July 25, 12)



November 18, 1999


Regular Plan - Growth Option 3,848.7272Regular Plan - Daily Dividend Reinvestment Option 1,063.6400Regular Plan - Weekly Dividend Option 1,063.6136Direct Plan - Growth Option 3,882.5230Direct Plan - Daily Dividend Reinvestment Option 1,063.6400Direct Plan - Weekly Dividend Option 1,063.6511



qUANTiTATiVE DATA






EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Each Plan offers Growth and Daily Dividend Option (with Reinvestment facility only). Weekly Dividend Option (with Payout and Reinvestment facility).


Purchase : Under Growth Option and Weekly Dividend Option : ` 5,000 and any amount thereafter. Under Daily Dividend Option : ` 10,000 and any amount thereafter

Additional Purchase : Under Growth Option and Weekly Dividend Option : ̀ 1,000 and any amount thereafter. Under Daily Dividend Option : ` 5,000 and any amount thereafter




(%) $$

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 7.60 7.68 7.48 10,760 10,768 10,748Feb 29, 16 Last 3 Years 7.11 7.25 6.79 12,289 12,338 12,177Feb 28, 14 Last 5 Years 7.69 7.78 7.41 14,485 14,550 14,296Nov 18, 99 Since Inception 7.25 N.A. 6.49 38,620 N.A. 33,669

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. $$ All dividends declared prior to the splitting of the Scheme into Dividend & Growth Options are assumed to be reinvested in the units of the Scheme at the then prevailing NAV (ex-dividend NAV). Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 62.

Face Value per Unit: ` 1,000, cD - certificate of Deposit; cP - commercial Papers. Data is as of February 28, 2019 unless otherwise specified.

n SDL 0.50

n cP 45.62

n cD 37.90




equivalent 83.52n cash, cash Equivalents and Net




l income over short term

l to generate income / capital appreciation by investing in money market instruments

Riskometer



(An open ended debt scheme investing in money market instruments)HDFC Money Market Fund


DEBT & DEBT RElATED



Sub Total 0.50


CD/CP

• LIc Housing Finance Ltd. cRISIL - A1+ / IcRA - A1+ 8.53

• Axis Bank Ltd. cRISIL - A1+ 6.62

• National Bank for Agriculture & Rural Development cRISIL - A1+ / IND - A1+ 6.48

• IcIcI Bank Ltd. IcRA - A1+ 4.65

• Indusind Bank Ltd. cRISIL - A1+ 4.27

• IDFc First Bank Ltd. cRISIL - A1+ 4.18

• Tata Sons Ltd. cRISIL - A1+ 4.13

• Tata capital Financial Services Ltd. IcRA - A1+ 3.90

• Small Industries Development Bank of India cARE - A1+ / IcRA - A1+ 3.28

• L&T Finance Ltd. cARE - A1+ 3.00

Reliance Industries Ltd. cRISIL - A1+ / IcRA - A1+ 2.97

Au Small Finance Bank Ltd. cRISIL - A1+ 2.87

Kotak Mahindra Investments Ltd. cRISIL - A1+ 2.76


The Federal Bank Ltd. cARE - A1+ 2.76

Deutsche Investments India Pvt. Ltd. cRISIL - A1+ 2.52

JSW Steel Ltd IcRA - A1+ 2.42

Kotak Mahindra Bank Ltd. cRISIL - A1+ 2.31

T V Sundram Iyengar & Sons Pvt. Ltd. IcRA - A1+ 2.16

L&T Infrastructure Finance Ltd. cRISIL - A1+ 1.98

Shriram Housing Finance Ltd. cARE - A1+ 1.98

Hero Fincorp Ltd. IcRA - A1+ 1.95

L&T Finance Holdings Ltd. cARE - A1+ 1.95

ScB Inv & Loan (I) Ltd cRISIL - A1+ 1.94

Rural electrification corporation Ltd. cARE - A1+ 1.87

Hinduja Leyland Finance Ltd cRISIL - A1+ 1.56

Hongkong & Shanghai Bank Ltd. IND - A1+ 0.48

Sub Total 83.52


Grand Total 100.00


PORTFOLIOKEY FACTS

46 February 2019


To generate income/capital appreciation through investment in a portfolio comprising substantially of floating rate debt, fixed rate debt instruments swapped for floating rate returns and money market instruments. There is no assurance that the investment objective of the Scheme will be realized.

CATEgORY OF SCHEME: Floater Fund

FUND MANAgER ¥

Shobhit Mehrotra (since October 23, 2007)



October 23, 2007


Retail OptionRegular Plan - Growth Option 31.1736Regular Plan - Daily Dividend Reinvestment Option 10.0809Regular Plan - Weekly Dividend Option 10.1393Regular Plan - Monthly Dividend Option 10.1480Wholesale OptionRegular Plan - Growth Option 32.2121Regular Plan - Daily Dividend Reinvestment Option 10.0809Regular Plan - Weekly Dividend Option 10.1394Regular Plan - Monthly Dividend Option 10.1482Direct Plan - Growth Option 32.4069Direct Plan - Daily Dividend Reinvestment Option 10.0809Direct Plan - Weekly Dividend Option 10.1396Direct Plan - Monthly Dividend Option 10.1483



qUANTITATiVE DATA






EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Under both the Plans: Growth & Dividend Option. The Dividend Option offers Daily Dividend Option (with Reinvestment facility only) and Weekly and Monthly Dividend Option (with Payout and Reinvestment facility).


Purchase : ` 5,000 and any amount thereafter. Additional Purchase : ` 1 and any amount thereafter.





(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 28, 18 Last 1 Year 7.63 7.68 7.48 10,763 10,768 10,748Feb 29, 16 Last 3 Years 7.72 7.25 6.79 12,499 12,338 12,177Feb 28, 14 Last 5 Years 8.22 7.78 7.41 14,848 14,550 14,296Oct 23, 07 Since Inception 8.18 7.54 6.48 24,436 22,832 20,415

Returns greater than 1 year period are compounded annualized (cAGR). Since Inception returns are calculated on ` 13.1821 (allotment price). Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Shobhit Mehrotra, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 58.


l income over short terml to generate income / capital appreciation through investment

in a portfolio comprising substantially of floating rate debt, fixed rate debt instruments swapped for floating rate returns and money market instruments

Riskometer





n G-Sec, SDL 1.97

n cP 12.92

n cD 16.90







[An open ended debt scheme predominantly investing in floating rate instruments (including fixed rate instruments converted to floating rate exposures using swaps / derivatives)]HDFC Floating Rate Debt Fund


DEBT & DEBT RElATED



8.21% Rajasthan (UDAY) SDL - Mat 310319 Sovereign 0.38


7.65% Karnataka SDL - Mat 061227 Sovereign 0.21

9.23% Gujarat SDL - Mat 300322 Sovereign 0.06

7.69% Gujarat SDL - Mat 201227 Sovereign @

Sub Total 1.97

CREDiT EXPOSURE


• Shriram city Union Finance Ltd. cARE - AA+ 5.37

• Power Finance corporation Ltd cRISIL - AAA 5.28


• National Bank for Agriculture & Rural Development cRISIL - AAA / IND - AAA 4.11

• National Housing Bank cARE - AAA 3.83




Shriram Transport Finance company Ltd. IND - AA+ 2.67


Indiabulls Housing Finance Ltd. BRIcKWORKS - AAA / cARE - AAA 1.78

Housing and Urban Development corporation Ltd. IcRA - AAA / IND - AAA 1.64


State Bank of India cARE - AA+ / cRISIL - AA+ 1.21

canara Bank cRISIL - AA 1.04

HPcL-Mittal Energy Ltd. IcRA - AA+ 0.88


Indian Railways Finance corporation Ltd.


NRSS xxIx Transmission Ltd. cRISIL - AAA 0.81


Gujarat Road and Infrastructure company Ltd. cARE - AAA(SO) 0.68


Bharti Airtel Ltd. cRISIL - AA 0.53


Tata capital Financial Services Ltd. cRISIL - AAA 0.27


Tata Sons Ltd. cRISIL - AAA 0.04

Sub Total 56.54

Total 58.51


CD/CP

• Indiabulls Housing Finance Ltd. cRISIL - A1+ 6.45



IDFc First Bank Ltd. cRISIL - A1+ 2.64

National Bank for Agriculture & Rural Development cRISIL - A1+ 2.51


JM Financial credit Solutions Ltd. IcRA - A1+ 1.76


Adani Transmission Ltd. IcRA - A1+ 1.27

IcIcI Bank Ltd. IcRA - A1+ 1.04

LIc Housing Finance Ltd. IcRA - A1+ 1.01


Sub Total 29.82


Grand Total 100.00


Outstanding exposure in derivative instruments Interest Rate Swap (` in crore) 3,150.00

PORTFOLIOKEY FACTS

February 2019 47


To generate income / capital appreciation through investment in debt securities and money market instruments.


CATEgORY OF SCHEME: Ultra Short Duration Fund

FUND MANAgER ¥

Anil Bamboli (since September 25, 18)



September 25, 2018


Regular Plan - Growth Option 10.3686Regular Plan - Daily Dividend Reinvestment Option 10.0500Regular Plan - Weekly Dividend Option 10.0545Regular Plan - Monthly Dividend Option 10.0545Direct Plan - Growth Option 10.3833Direct Plan - Daily Dividend Reinvestment Option 10.0500Direct Plan - Weekly Dividend Option 10.0548Direct Plan - Monthly Dividend Option 10.0547



qUANTiTATiVE DATA




#BENCHMARK iNDEX: cRISIL Ultra Short Term Debt Index


EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Under both the Plans: Growth & Dividend Option. The Dividend Option offers Daily Dividend Option (with Reinvestment facility only) and Weekly and Monthly Dividend Option (with Payout and Reinvestment facility).


Purchase : ` 5,000 and any amount thereafter.




l income over short terml income/capital appreciation through investment in debt

securities and money market instruments

Riskometer




n cP 19.80

n cD 21.90





n AA+ 7.10

ncash, cash Equivalents and Net current Assets 1.77

[An open ended ultra-short term debt scheme investing in instruments such that the Macaulay Duration of the portfolio is between 3 months and 6 months (Refer page 2 for definition of Macaulay Duration)]HDFC Ultra Short Term Fund


DEBT & DEBT RElATED

CREDiT EXPOSURE


• National Bank for Agriculture & Rural Development cRISIL - AAA 6.60

• National Housing Bank cARE - AAA 4.95


• Power Finance corporation Ltd. cRISIL - AAA 4.95


Indian Railways Finance corporation Ltd. cARE - AAA 3.30



Adani Transmission Ltd. IND - AA+ 2.48

Tata capital Financial Services Ltd. cRISIL - AAA 2.47


Sundaram BNP Paribas Home Finance Ltd. IcRA - AA+ 1.65

Kotak Mahindra Prime Ltd. cRISIL - AAA 1.32

Volkswagen Finance Private Ltd. IND - AAA 0.82




Housing and UrbanDevelopment corporation Ltd. cARE - AAA 0.49

Sub Total 56.53


CD/CP

• LIc Housing Finance Ltd. cRISIL - A1+ / IcRA - A1+ 7.92



• Tata Sons Ltd. cRISIL - A1+ 3.81

L&T Finance Ltd. cARE - A1+ 3.08

Kotak Mahindra Bank Ltd. cRISIL - A1+ 3.07

Small Industries Development Bank of India IcRA - A1+ 3.07



The Federal Bank Ltd. cARE - A1+ 2.29

Shriram Transport Finance company Ltd. cRISIL - A1+ 1.93


National Bank for Agriculture & Rural Development cRISIL - A1+ 0.16

Sub Total 41.70


Grand Total 100.00



PORTFOLIOKEY FACTS

48 February 2019


To generate income through a portfolio comprising money market and debt instruments.


CATEgORY OF SCHEME: Liquid Fund

FUND MANAgER ¥




October 17, 2000

NAV (AS ON FEBRUARY 28, 2019)^^ NAV PER UNiT (`)

HDFC liquid FundRegular Plan - Growth Option 3,636.8602Regular Plan - Daily Dividend Reinvestment Option 1,019.8200Regular Plan - Weekly Dividend Option 1,031.5788Regular Plan - Monthly Dividend Option 1,026.8466Direct Plan - Growth Option 3,654.4202Direct Plan - Daily Dividend Reinvestment Option 1,019.8200Direct Plan - Weekly Dividend Option 1,031.5867Direct Plan - Monthly Dividend Option 1,026.8549HDFC liquid Fund - Premium PlanRegular Plan - Growth Option 3,711.4709Regular Plan - Daily Dividend Reinvestment Option 1,225.9800



qUANTiTATiVE DATA






EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Under both the Plans: Growth & Dividend Option. The Dividend Option offers Daily Dividend Option (Reinvestment facility only) and Weekly and Monthly Dividend Option (with Payout and Reinvestment facility).


Purchase : Under Growth Option, Weekly Dividend Option and Monthly Dividend Option: ` 5,000 and any amount thereafter. Under Daily Dividend Option: ̀ 10,000 and any amount thereafter.Additional Purchase : Under Growth Option, Weekly Dividend Option and Monthly Dividend Option: ̀ 1,000 and any amount thereafter. Under Daily Dividend Option: ` 5,000 and any amount thereafter.


^^calculated on all calendar days.



l regular income over short term

l to generate income through a portfolio comprising money market and debt instruments

Riskometer

Investors understand that their principal will be at low risk




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 21, 19 Last 7 days 6.73 6.88 2.96 10,013 10,013 10,006Feb 13, 19 Last 15 days 6.60 6.59 5.05 10,027 10,027 10,021Jan 31, 19 Last 1 Month 6.78 6.96 8.59 10,052 10,053 10,066Feb 28, 18 Last 1 Year 7.33 7.68 7.48 10,733 10,768 10,748Feb 29, 16 Last 3 Years 7.08 7.25 6.79 12,277 12,338 12,177Feb 28, 14 Last 5 Years 7.69 7.78 7.41 14,489 14,550 14,296Oct 17, 00 Since Inception 7.28 N.A. 6.40 36,369 N.A. 31,286

Returns less than 1 year period are simple annualized and greater than 1 year are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anupam Joshi, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.

n SDL, T-Bills 11.86

n cP 62.77

n cD 13.52




n Sovereign 11.86


n AA+ 5.99

n AA/AA- 23.94

n A+ & Below 4.96



(An open ended liquid scheme)HDFC Liquid FundKEY FACTS

PORTFOLIO



DEBT & DEBT RElATED


7.76% Karnataka SDL - Mat 020319 Sovereign Sovereign 0.27

Sub Total 0.27

T-BillS

• 91 Days Tbill - ISD 201218 Mat 210319 Sovereign Sovereign 5.91

• DcMB ( Discounted cash Management Bills) 45 days- ISD 010219 Mat 180319 Sovereign Sovereign 5.04

182 Days TBill - Mat 280319 Sovereign Sovereign 0.54

182 Days TBill - Mat 220319 Sovereign Sovereign 0.09

364 Days Tbill - Mat 210319 Sovereign Sovereign 0.01

Sub Total 11.59



CREDiT EXPOSURE

Housing Development Finance corporation Ltd. £ cRISIL - AAA cRISIL - AAA 2.33

Small Industries Development Bank of India cARE - AAA cRISIL - AAA 1.50

Power Finance corporation Ltd. cRISIL - AAA cRISIL - AAA 0.89

LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA cRISIL - AAA 0.67

National Bank for Agriculture and Rural Development cRISIL - AAA cRISIL - AAA 0.43

Reliance Jio Infocomm Ltd. cRISIL - AAA cRISIL - AAA 0.40

Bajaj Finance Ltd. cRISIL - AAA / IND - AAA cRISIL - AAA 0.37

PNB Housing Finance Ltd. IND - AA+ cRISIL - AA+ 0.29

M&M Financial Services Ltd. cARE - AAA / IND - AAA cRISIL - AA+ 0.27

Tata capital Financial Services Ltd IcRA - AA+ / IcRA - AAA cRISIL - AAA 0.20

Kotak Mahindra Prime Ltd. cRISIL - AAA cRISIL - AAA 0.18

February 2019 49



(An open ended liquid scheme) .....Contd from previous pageHDFC Liquid FundPORTFOLIO



Rural Electrification corporation Ltd. cRISIL - AAA cRISIL - AAA 0.17

Sundaram Finance Ltd. cRISIL - AAA IND - AA+ 0.14

Sun Pharma Laboratories Ltd. IcRA - AAA IcRA - AAA 0.13

Daimler Financial Services India Private Ltd. IND - AAA IND - AAA 0.11

ONGc Mangalore Petrochemicals Ltd IND - AAA IcRA - AA+ 0.11

HDB Financial Services Ltd. cRISIL - AAA cRISIL - AAA 0.10

Indian Railways Finance corp. Ltd. cRISIL - AAA cRISIL - AAA 0.08

L&T Infrastructure Finance Ltd. cARE - AAA cARE - AAA 0.07

Nabha Power Ltd. (corporate Guarantee of L&T Ltd.) IcRA - AAA(SO) cARE - A 0.07

Fullerton India credit company Ltd. cARE - AAA IND - AA+ 0.05

Tata Motors Finance Ltd. cRISIL - AA cRISIL - AA 0.05

Tata Sons Ltd. cRISIL - AAA cRISIL - AAA 0.04

NTPc Ltd. cRISIL - AAA cRISIL - AAA 0.02

Tata Motors Ltd. cARE - AA cRISIL - AA 0.01

Sub Total 8.68

TOTAL 20.54


CD/CP

• National Bank for Agriculture & Rural Development IND - A1+ cRISIL - AAA 5.72

• Tata Sons Ltd. cRISIL - A1+ cRISIL - AAA 5.68

• Axis Bank Ltd. cRISIL - A1+ cRISIL - AAA 4.08

• Bharti Airtel Ltd. IcRA - A1+ cRISIL - AA 3.56

• Oil & Natural Gas corporation Ltd. cARE - A1+ cARE - AAA 3.55

• Reliance Jio Infocomm Ltd. cARE - A1+ cRISIL - AAA 3.23

• Steel Authority of India Ltd. cARE - A1+ / IcRA - A1+ / IND - A1+ cARE - AA- 3.15

• Hindustan Zinc Ltd. cRISIL - A1+ cRISIL - AAA 2.86

NTPc Ltd. cARE - A1+ / cRISIL - A1+ / IcRA - A1+ cRISIL - AAA 2.49

Tata Teleservices Ltd. cRISIL - A1+ cARE - A+ 2.47

Adani Ports & Special economic Zone cARE - A1+ / IcRA - A1+ / IND - A1+ cRISIL - AA- 2.42

Indian Oil corporation Ltd. IND - A1+ cRISIL - AAA 2.01

PNB Housing Finance Ltd. cRISIL - A1+ cRISIL - AA+ 1.72

The South Indian Bank Ltd. cARE - A1+ cARE - A+ 1.70

Indusind Bank Ltd. cRISIL - A1+ IcRA - AA 1.67

Vedanta Ltd. cRISIL - A1+ / IcRA - A1+ cRISIL - AA 1.65

Vijaya Bank cRISIL - A1+ IND - AA- 1.63

L&T Finance Ltd. cARE - A1+ / IcRA - A1+ cARE - AAA 1.47

Reliance Industries Ltd. cARE - A1+ / cRISIL - A1+ cRISIL - AAA 1.47

Reliance Retail Ltd cARE - A1+ / IcRA - A1+ cRISIL - AAA 1.29

Tata Motors Finance Ltd. cARE - A1+ / cRISIL - A1+ cRISIL - AA 1.27

Bharat Heavy electricals Ltd. cARE - A1+ cRISIL - AA+ 1.15

M&M Financial Services Ltd. cRISIL - A1+ cRISIL - AA+ 0.99

Bajaj Finance Ltd. IcRA - A1+ cRISIL - AAA 0.93

canFin Homes Ltd cARE - A1+ / IcRA - A1+ cARE - AAA 0.93

Tata Steel Ltd. IcRA - A1+ cARE - AA 0.86



Tata Motors Finance Solutions Ltd. cARE - A1+ / IcRA - A1+ cRISIL - AA 0.85

chennai Petroleum corporation Ltd. IcRA - A1+ cRISIL - AAA 0.85

L&T Housing Finance Ltd. cARE - A1+ / cRISIL - A1+ cARE - AAA 0.76

Punjab National Bank cARE - A1+ IcRA - AA- 0.75

Tata Teleservices (Maharashtra) Ltd. cRISIL - A1+ cARE - A+ 0.72

Andhra Bank cARE - A1+ cRISIL - AA 0.71

Bajaj Housing Finance Ltd. cRISIL - A1+ cRISIL - AAA 0.71

Jammu & Kashmir Bank Ltd. cRISIL - A1+ cARE - AA- 0.71

National Housing Bank cRISIL - A1+ cRISIL - AAA 0.71

IcIcI Bank Ltd. cRISIL - A1+ cRISIL - AAA 0.65

National Fertilizers Ltd IcRA - A1+ IcRA - AA 0.65

Kotak Mahindra Bank Ltd. cRISIL - A1+ cRISIL - AAA 0.58

Tata Realty and Infrastructure Ltd. IcRA - A1+ cRISIL - AA 0.51

Shriram city Union Finance Ltd. cARE - A1+ cRISIL - AA 0.50

Kotak Mahindra Prime Ltd. cRISIL - A1+ cRISIL - AAA 0.43

MUFG Bank Ltd. IND - A1+ IND - AAA 0.43

Nirma Ltd. cRISIL - A1+ IND - AA- 0.43

TATA Housing Development company Ltd. cARE - A1+ / IND - A1+ cARE - AA 0.42

United Spirits Ltd. cRISIL - A1+ / IcRA - A1+ cRISIL - AA+ 0.42

chambal Fertilizers & chemicals Ltd. IcRA - A1+ cRISIL - AA- 0.39

IDFc First Bank Ltd. cRISIL - A1+ IcRA - AA+ 0.38

Aditya Birla Finance Ltd. IND - A1+ cARE - AAA 0.36

Daimler Financial Services India Private Ltd. cRISIL - A1+ IND - AAA 0.29

GIc Housing Finance Ltd. IcRA - A1+ cRISIL - AA+ 0.29

Manappuram Finance Ltd. cARE - A1+ cRISIL - AA- 0.29

essel Mining and Industries Ltd. cARE - A1+ cRISIL - AA- 0.28

Magma Fincorp Ltd. cRISIL - A1+ cARE - AA- 0.28

Tata Projects Ltd. IND - A1+ IND - AA 0.28

Julius Baer capital (India) Private Ltd. IcRA - A1+ INTeRNAL - AAA 0.27

Deutsche Investments India Pvt. Ltd. cRISIL - A1+ INTeRNAL - AA 0.18

Mahindra Rural Housing Finance Ltd. IND - A1+ cRISIL - AA+ 0.18

canara Bank cRISIL - A1+ cRISIL - AAA 0.14

cESc Ltd. IcRA - A1+ cARE - AA 0.14

TVS Srichakra Ltd. cRISIL - A1+ IND - AA- 0.14

HSBc InvestDirect Financial Services (India) Ltd. IND - A1+ IND - AAA 0.11

SBI Global Factors Ltd. cRISIL - A1+ cRISIL - AAA 0.11

Aarti Industries Ltd. IND - A1+ cRISIL - AA- 0.09

Small Industries Development Bank IcRA - A1+ cRISIL - AAA 0.09

export - Import Bank of India IcRA - A1+ cRISIL - AAA 0.07

Fedbank Financial Services Ltd. cRISIL - A1+ cARE - AA- 0.07

Rural Electrification corporation Ltd. cARE - A1+ cRISIL - AAA 0.07

LIc Housing Finance Ltd. cRISIL - A1+ cRISIL - AAA 0.04

Axis Finance Ltd. IND - A1+ IND - AAA 0.01

Sub Total 76.29


Grand Total 100.00


50 February 2019


To generate returns by investing in debt and money market instruments with overnight maturity.


CATEgORY OF SCHEME: Overnight Fund

FUND MANAgER ¥

Anil Bamboli (since July 25, 12)



February 06, 2002


Regular Plan - Growth Option 2,797.3995Regular Plan - Daily Dividend Reinvestment Option 1,042.6600Direct Plan - Growth Option 2,807.8352Direct Plan - Daily Dividend Reinvestment Option 1,042.6600



qUANTiTATiVE DATA

Average Maturity * 1 dayMacaulay Duration * 1 dayModified Duration * 1 dayYield to Maturity * 6.25%* computed on the invested amount.



#BENCHMARK iNDEX: cRISIL Overnight Index


EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Each Plan offers Growth and Daily Dividend Option (with Reinvestment facility only).


Purchase : Under Growth Option : ` 5,000 and any amount thereafter. Under Daily Dividend Option : ` 10,000 and any amount thereafter

Additional Purchase : Under Growth Option : ̀ 1,000 and any amount thereafter. Under Daily Dividend Option : ` 5,000 and any amount thereafter




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Feb 21, 19 Last 7 days 6.04 6.28 2.96 10,012 10,012 10,006Feb 13, 19 Last 15 days 6.05 6.28 5.05 10,025 10,026 10,021Jan 31, 19 Last 1 Month 6.08 6.31 8.59 10,047 10,048 10,066Feb 28, 18 Last 1 Year 6.19 6.26 7.48 10,619 10,626 10,748Feb 29, 16 Last 3 Years 6.11 6.19 6.79 11,947 11,973 12,177Feb 28, 14 Last 5 Years 6.71 6.85 7.41 13,841 13,930 14,296Feb 06, 02 Since Inception 6.21 N.A. 6.05 27,974 N.A. 27,273

Returns less than 1 year period are simple annualized and greater than 1 year are compounded annualized (cAGR). N.A. Not Available. Performance of dividend option under the schemes for the investors would be net of distribution tax as applicable. For performance of other schemes managed by Anil Bamboli, please refer page 51. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 62.

Face Value per Unit: ` 1,000, Data is as of February 28, 2019 unless otherwise specified.






l regular income over short term that may be in line with the overnight call rates

l to generate returns by investing in debt and money market instruments with overnight maturity

Riskometer

Investors understand that their principal will be at low risk


(An open ended debt scheme investing in overnight securities)HDFC Overnight Fund



Grand Total 100.00

PORTFOLIOKEY FACTS

February 2019 51

Performance details of Schemes managed by respective Fund Managers

Sr. No. Name of the Fund Manager Funds Managed Page no.

1 Mr. Prashant Jain HDFC Equity Fund 05

HDFC Top 100 Fund 07

HDFC Balanced Advantage Fund 13-14

HDFC Hybrid Debt Fund (Co-managed scheme) 31-32

2 Mr. Vinay Kulkarni HDFC Focused 30 Fund 11

HDFC Growth Opportunities Fund 10

HDFC TaxSaver 23

HDFC Equity Savings Fund (Co-managed scheme) 29-30

3 Mr. Srinivas Rao Ravuri HDFC Infrastructure Fund 12

Close ended schemes 52

4 Mr. Chirag Setalvad HDFC Mid-Cap Opportunities Fund 08

HDFC Small Cap Fund 09

HDFC Long Term Advantage Fund 52

HDFC Hybrid Equity Fund 15-16

HDFC Children’s Gift Fund 24-25

HDFC Multi-Asset Fund (Co-managed scheme) 17-18

HDFC Retirement Savings Fund - Equity Plan (Co-managed scheme) 26

HDFC Retirement Savings Fund - Hybrid Equity Plan (Co-managed scheme) 27

HDFC Retirement Savings Fund - Hybrid Debt Plan (Co-managed scheme) 28

5 Mr. Miten Lathia HDFC Capital Builder Value Fund 06

HDFC Dynamic PE Ratio Fund of Funds (Co-managed scheme) 56

6 Mr. Krishan Kumar Daga HDFC Arbitrage Fund 33-34


HDFC Index Fund - SEnSEx Plan 22

HDFC Index Fund - nIFTY 50 Plan 20

HDFC SEnSEx ETF 21

HDFC nIFTY 50 ETF 19

HDFC Gold Exchange Traded Fund 55

HDFC Gold Fund 55


7 Mr. Shobhit Mehrotra HDFC Income Fund 41

HDFC Medium Term Debt Fund 42

HDFC Floating Rate Debt Fund 46

HDFC Credit Risk Debt Fund 36-37

HDFC Hybrid Debt Fund (Co-managed scheme) 31-32

HDFC Retirement Savings Fund - Equity Plan (Co-managed scheme) 26

HDFC Retirement Savings Fund - Hybrid Equity Plan (Co-managed scheme) 27

HDFC Retirement Savings Fund - Hybrid Debt Plan (Co-managed scheme) 28

Close ended schemes 52-53

8 Mr. Anil Bamboli HDFC Dynamic Debt Fund 40

HDFC Short Term Debt Fund 43

HDFC Gilt Fund 39

HDFC Money Market Fund 45

HDFC Ultra Short Term Fund 47

HDFC Overnight Fund 49

HDFC Banking and PSU Debt Fund 38



HDFC Dynamic PE Ratio Fund of Funds (Co-managed scheme) 56


Co-managed schemes 56

9 Mr. Anupam Joshi HDFC Liquid Fund 48-49

HDFC Corporate Bond Fund 35

HDFC Low Duration Fund 44


For performance details of Direct Plan, refer page 57-64

Exit Load : (i) no exit load shall be levied for switching between Options under the same Plan within a Scheme. (ii) Switch of investments to Direct Plan within the same Scheme shall be subject to applicable exit load, unless the investments were made without any distributor code. However, any subsequent switch-out or redemption of such investments from the Direct Plan will not be subject to any exit load. (iii) no exit load shall be levied for switch-out from Direct Plan to other Plan within the same Scheme. However, any subsequent switch-out or redemption of such investment from the other Plan shall be subject to exit load based on the original date of investment in the Direct Plan. (iv) Switch of investments between Plans under a Scheme having separate portfolios, will be subject to applicable exit load. (v) no exit load will be levied on Bonus Units and Units allotted on Dividend Re-investment. (vi) In case of Systematic Transactions such as SIP, GSIP, Flex SIP, STP, Flex STP, Swing STP, Flexindex; Exit Load, if any, prevailing on the date of registration / enrolment shall be levied.

Tax Benefits / Consequences : The Dividend Distribution Tax on distribution of income by equity oriented fund to all the investors shall be payable at the rate of 11.648%* and on distribution of income by other than equity oriented fund to an individual / HUF shall be payable at the rate of 29.12%* and at the rate of 34.944%* on distribution of income to any other investor. Such income distributed by the Scheme(s) is free from Income–tax in the hands of Investors. Units of the Scheme(s) are not subject to Wealth-tax and Gift-tax. Unit holders are required to pay Securities Transaction Tax (STT) at the rate of 0.001% at the time of redemption / switch-out of units of an equity-oriented fund. * including applicable surcharge, health and education cess.

Investors should be aware that the fiscal rules / tax laws may change and there can be no guarantee that the current tax position may continue indefinitely. In view of individual nature of tax consequences, each investor is advised to consult his / her own professional tax advisor.

52 February 2019

SCHEME PERFORMANCE - REGULAR PLAN - GROWTH OPTION (FUND MANAGER-WISE)

SRINIvAS RAO RAvURI

HDFC EOF - II - 1126D MAy 2017 (1) NAv as on Feb 28, 2019 ` 9.8340


(%)

Benchmark Returns

(%)#


Returns (%) ##

value of ` 10,000 invested

Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -5.30 -2.08 4.32 9,470 9,792 10,432Jun 15, 17 Since Inception -0.98 5.10 8.70 9,834 10,887 11,529

# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index). The scheme is managed by Mr. Srinivas Rao Ravuri since inception.

HDFC EOF - II - 1100D JUNE 2017 (1) NAv as on Feb 28, 2019 ` 9.4470


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -5.21 -2.08 4.32 9,479 9,792 10,432Jul 17, 17 Since Inception -3.45 3.26 6.66 9,447 10,532 11,100


HDFC HOF - I - 1140D NOvEMBER 2017 (1) NAv as on Feb 28, 2019 ` 8.6860


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -12.73 -5.47 4.32 8,727 9,453 10,432Dec 06, 17 Since Inception -10.82 -1.20 7.42 8,686 9,853 10,920

# India Housing & Allied Businesses Index ## nIFTY 50 (Total Returns Index). The scheme is managed by Mr. Srinivas Rao Ravuri since inception.

CHIRAG SETALvAD

HDFC LONG TERM ADvANTAGE FUND NAv as on Feb 28, 2019 ` 335.697


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -1.95 6.25 4.32 9,805 10,625 10,432Feb 29, 16 Last 3 Years 18.62 17.54 17.20 16,692 16,240 16,099Feb 28, 14 Last 5 Years 15.16 12.72 12.86 20,265 18,202 18,317Jan 02, 01 Since Inception 21.34 13.84 14.10 335,697 105,339 109,909

# S&P BSE SEnSEx (Total Returns Index) ## nIFTY 50 (Total Returns Index). The scheme is managed by Mr. Chirag Setalvad since April 02, 2007.

SHOBHIT MEHROTRA

HDFC FMP 3360D MARCH 2014 (1) NAv as on Feb 28, 2019 ` 13.9215


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index. The Scheme is in existence for more than 1 year but less than 5 years. The scheme is managed by Mr. Shobhit Mehrotra since inception.

HDFC FMP 1183D JANUARy 2016 (1) NAv as on Feb 28, 2019 ` 12.6498


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 7.57 7.13 7.48 10,757 10,713 10,748Feb 29, 16 Last 3 Years 8.06 7.64 6.79 12,618 12,470 12,177Jan 12, 16 Since Inception 7.80 7.41 6.78 12,650 12,508 12,281

# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Shobhit Mehrotra since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1155D FEBRUARy 2016 (1) NAv as on Feb 28, 2019 ` 12.6021


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



Past performance may or may not be sustained in the future. Returns greater than 1 year period are compounded annualized (CAGR). Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. Load is not taken into consideration for computation of performance. n.A.: not Available

Performance of close-ended schemes, being close-ended in nature, is not strictly comparable with that of open-ended schemes since the investment strategy for close-ended schemes is primarily buy-and-hold whereas open-ended schemes are actively managed.

February 2019 53




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 9.48 7.13 7.48 10,948 10,713 10,748Mar 04, 16 Since Inception 9.57 7.59 6.76 13,140 12,445 12,161




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1172D APRIL 2017 (1) NAv as on Feb 28, 2019 ` 11.2816


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 7.24 7.13 7.48 10,724 10,713 10,748Apr 11, 17 Since Inception 6.61 5.42 6.58 11,282 11,046 11,277




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1166D MAy 2017 (1) NAv as on Feb 28, 2019 ` 11.3538


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 7.46 7.13 7.48 10,746 10,713 10,748May 09, 17 Since Inception 7.27 5.41 6.75 11,354 11,000 11,254


HDFC FMP 1136D JUNE 2017 (1) NAv as on Feb 28, 2019 ` 11.1932


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 7.03 7.13 7.48 10,703 10,713 10,748Jun 08, 17 Since Inception 6.75 4.29 6.75 11,193 10,752 11,194


HDFC FMP 1430D JULy 2017 (1) NAv as on Feb 28, 2019 ` 10.9418


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 7.50 7.13 7.48 10,750 10,713 10,748Aug 01, 17 Since Inception 5.87 3.84 6.78 10,942 10,613 11,091


ANIL BAMBOLI

HDFC CHARITy FUND FOR CANCER CURE - DEBT PLAN^

NAv as on Feb 28, 2019 ` 10.4482


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Short Term Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Anil Bamboli since inception. ^Scheme offers Dividend option only. Returns of HDFC Charity Fund for Cancer Cure - Debt Plan - Regular Plan are computed based on nAV of Dividend Option and all dividends (after statutory levy) are assumed to be reinvested in the units of the scheme at the then prevailing nAV (ex-dividend nAV).

HDFC FMP 1846D AUGUST 2013 (1) NAv as on Feb 28, 2019 ` 15.6703


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 5.88 7.13 7.48 10,588 10,713 10,748Feb 29, 16 Last 3 Years 6.95 7.64 6.79 12,235 12,470 12,177Feb 28, 14 Last 5 Years 8.17 9.04 7.41 14,813 15,420 14,296Aug 14, 13 Since Inception 8.44 9.02 7.54 15,670 16,147 14,966

# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The scheme is managed by Mr. Anil Bamboli since inception.

SHOBHIT MEHROTRA....CONTINUED



54 February 2019




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 8.12 7.13 7.48 10,812 10,713 10,748Feb 29, 16 Last 3 Years 7.77 7.64 6.79 12,517 12,470 12,177Feb 28, 14 Last 5 Years 9.32 9.04 7.41 15,614 15,420 14,296Feb 05, 14 Since Inception 9.32 8.91 7.42 15,702 15,411 14,370

# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 5 years. The scheme is managed by Mr. Anil Bamboli since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Short Term Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 5 years. The scheme is managed by Mr. Anil Bamboli since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1111D SEPTEMBER 2016 (1) NAv as on Feb 28, 2019 ` 12.2291


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 8.41 7.13 7.48 10,841 10,713 10,748Sep 15, 16 Since Inception 8.54 5.81 6.61 12,229 11,486 11,701




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1218D DECEMBER 2016 (1) NAv as on Feb 28, 2019 ` 11.6128


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 7.89 7.13 7.48 10,789 10,713 10,748Jan 12, 17 Since Inception 7.28 4.55 6.49 11,613 10,995 11,433




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 7.67 7.13 7.48 10,767 10,713 10,748Feb 22, 17 Since Inception 6.88 5.80 6.57 11,436 11,203 11,368




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



ANIL BAMBOLI....CONTINUED



February 2019 55




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



KRISHAN KUMAR DAGA

HDFC GOLD EXCHANGE TRADED FUND* NAv as on Feb 28, 2019 ` 3048.441

Date Period Scheme Returns (%)

Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Feb 28, 18 Last 1 Year 8.53 9.80 10,853 10,980Feb 29, 16 Last 3 Years 2.50 3.64 10,770 11,132Feb 28, 14 Last 5 Years 1.62 2.74 10,839 11,450Aug 13, 10 Since Inception 6.35 7.18 16,933 18,089

# Domestic Price of Physical Gold. Since inception returns are calculated on ̀ 1800.3288 (allotment price) * The Scheme does not offer any Plans/Options. The scheme is managed by Mr. Krishan Kumar Daga since October 19, 2015.

HDFC GOLD FUND NAv as on Feb 28, 2019 ` 10.856


Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Feb 28, 18 Last 1 Year 8.01 9.80 10,801 10,980Feb 29, 16 Last 3 Years 3.49 3.64 11,083 11,132Feb 28, 14 Last 5 Years 0.27 2.74 10,135 11,450nov 01, 11 Since Inception 1.13 2.89 10,856 12,326

# Domestic Price of Physical Gold. The scheme is managed by Mr. Krishan Kumar Daga since October 19, 2015.

HDFC CHARITy FUND FOR CANCER CURE - ARBITRAGE PLAN^

NAv as on Feb 28, 2019 ` 10.238


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Feb 28, 18 Last 1 Year 5.96 4.97 4.32 10,596 10,497 10,432Mar 27, 17 Since Inception 6.34 4.68 11.10 11,257 10,921 12,247

# nIFTY 50 Arbitrage Index ## nIFTY 50 Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Krishan Kumar Daga since inception. ^ Scheme offers Dividend option only. Returns of HDFC Charity Fund for Cancer Cure - Arbitrage Plan - Regular Plan are computed based on nAV of Dividend Option and all dividends (after statutory levy) are assumed to be reinvested in the units of the scheme at the then prevailing nAV (ex-dividend nAV).

ANUPAM JOSHI



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#



# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Anupam Joshi since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Feb 28, 18 Last 1 Year 7.33 7.13 7.48 10,733 10,713 10,748Apr 21, 16 Since Inception 7.39 7.06 6.69 12,260 12,151 12,033




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Feb 28, 18 Last 1 Year 7.63 7.13 7.48 10,763 10,713 10,748May 31, 16 Since Inception 8.69 7.08 6.72 12,575 12,067 11,957




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Feb 28, 18 Last 1 Year 7.65 7.13 7.48 10,765 10,713 10,748May 05, 16 Since Inception 8.73 7.05 6.70 12,661 12,118 12,007




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Feb 28, 18 Last 1 Year 7.67 7.13 7.48 10,767 10,713 10,748Jun 08, 16 Since Inception 7.68 7.08 6.71 12,234 12,051 11,936




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#







56 February 2019




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Feb 28, 18 Last 1 Year 7.35 7.13 7.48 10,735 10,713 10,748Jul 07, 16 Since Inception 7.53 6.77 6.67 12,120 11,894 11,864




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 8.54 7.13 7.48 10,854 10,713 10,748Jul 27, 16 Since Inception 8.58 6.38 6.64 12,380 11,739 11,813




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



CO-MANAGED By MITEN LATHIA & ANIL BAMBOLI

HDFC DyNAMIC PE RATIO FUND OF FUNDS NAv as on Feb 28, 2019 ` 17.7614


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -0.73 5.47 4.32 9,927 10,547 10,432Feb 29, 16 Last 3 Years 14.60 13.92 17.20 15,050 14,785 16,099Feb 28, 14 Last 5 Years 9.22 11.61 12.86 15,546 17,322 18,317Feb 06, 12 Since Inception 8.47 10.71 11.81 17,761 20,516 22,005

# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. The scheme is co-managed by Mr. Miten Lathia & Mr. Anil Bamboli since June 27, 2014.

CO-MANAGED ByKRISHAN KUMAR DAGA & ANIL BAMBOLI

HDFC DAF - II - 1160D JANUARy 2016 NAv as on Feb 28, 2019 ` 12.2042


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Hybrid Short Duration Debt 25:75 Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is co-managed by Mr. Krishan Kumar Daga & Anil Bamboli since inception.

HDFC DAF - II - 1099D MARCH 2016 NAv as on Feb 28, 2019 ` 11.8146


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - II - 1111D APRIL 2016 NAv as on Feb 28, 2019 ` 11.8013


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - III - 1304D AUGUST 2016 NAv as on Feb 28, 2019 ` 11.3976


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - III - 1267D OCTOBER 2016 NAv as on Feb 28, 2019 ` 11.2210


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 4.98 6.37 7.48 10,498 10,637 10,748Oct 25, 16 Since Inception 5.03 8.70 6.53 11,221 12,161 11,598


HDFC DAF - III - 1224D NOvEMBER 2016 NAv as on Feb 28, 2019 ` 11.1411


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 4.96 6.80 7.48 10,496 10,680 10,748Dec 07, 16 Since Inception 4.97 8.73 6.50 11,141 12,050 11,507



Performance of close-ended Scheme is not strictly comparable with that of open-ended schemes since the investment strategy for close-ended schemes is primarily buy and hold whereas open ended schemes are actively managed.

ANUPAM JOSHI....CONTINUED

February 2019 57

SCHEME PERFORMANCE - DIRECT PLAN - GROWTH OPTION (FUND MANAGER-WISE)

PRASHANT JAIN

HDFC EQUITy FUND NAv as on Feb 28, 2019 ` 647.101


(%)

Benchmark Returns

(%)#


Returns (%) ##

value of ` 10,000 invested Scheme

(`)Benchmark

(`)#Additional

Benchmark (`)##

Feb 28, 18 Last 1 Year -0.99 -2.08 4.32 9,901 9,792 10,432Feb 29, 16 Last 3 Years 20.54 16.88 17.20 17,516 15,965 16,099Feb 28, 14 Last 5 Years 16.20 14.37 12.86 21,195 19,576 18,317Jan 01, 13 Since Inception 13.48 11.99 11.52 21,797 20,092 19,579

# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index).

HDFC TOP 100 FUND NAv as on Feb 28, 2019 ` 475.654


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##

Feb 28, 18 Last 1 Year 1.86 2.30 6.25 10,186 10,230 10,625Feb 29, 16 Last 3 Years 20.04 17.29 17.54 17,299 16,136 16,240Feb 28, 14 Last 5 Years 15.39 13.75 12.72 20,467 19,050 18,202Jan 01, 13 Since Inception 12.60 12.04 11.87 20,776 20,151 19,962

# nIFTY 100 (Total Returns Index) ## S&P BSE SEnSEx (Total Returns Index).

HDFC BALANCED ADvANTAGE FUND NAv as on Feb 28, 2019 ` 190.959


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##


# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where a portion of scheme’s investments are made in debt instruments. Refer to note on performance disclosure on Page no. 13.

vINAy KULKARNI

HDFC FOCUSED 30 FUND NAv as on Feb 28, 2019 ` 74.993


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##



HDFC GROWTH OPPORTUNITIES FUND NAv as on Feb 28, 2019 ` 105.714


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##


# nIFTY Large Midcap 250 (Total Returns Index) ## S&P BSE SEnSEx (Total Returns Index). The Scheme, formerly a large cap fund, has undergone change in Fundamental attributes w.e.f. May 23, 2018 and become a Large and Mid-cap Fund. Accordingly, the Scheme’s benchmark has also changed. Hence, the past performance of the Scheme may not strictly be comparable with that of the new benchmark.

HDFC TAXSAvER NAv as on Feb 28, 2019 ` 503.949


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



CHIRAG SETALvAD

HDFC MID-CAP OPPORTUNITIES FUND NAv as on Feb 28, 2019 ` 53.776


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY Midcap 100 (Total Returns Index) ## nIFTY 50 (Total Returns Index).

HDFC SMALL CAP FUND NAv as on Feb 28, 2019 ` 43.619


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY Smallcap 100 (Total Returns Index) ## nIFTY 50 (Total Returns Index).

HDFC HyBRID EQUITy FUND NAv as on Feb 28, 2019 ` 52.666


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##


# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). Refer to note on performance disclosure on Page no. 15.

HDFC CHILDREN’S GIFT FUND NAv as on Feb 28, 2019 ` 121.114


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of balanced nature of the scheme where a portion of scheme’s investments are made in debt instruments.

HDFC LONG TERM ADvANTAGE FUND NAv as on Feb 28, 2019 ` 348.051


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# S&P BSE SEnSEx (Total Returns Index) ## nIFTY 50 (Total Returns Index).


58 February 2019


SRINIvAS RAO RAvURI

HDFC EOF - II - 1126D MAy 2017 (1) NAv as on Feb 28, 2019 ` 10.0830


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -4.00 -2.08 4.32 9,600 9,792 10,432Jun 15, 17 Since Inception 0.49 5.10 8.70 10,083 10,887 11,529


HDFC EOF - II - 1100D JUNE 2017 (1) NAv as on Feb 28, 2019 ` 9.7240


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -3.53 -2.08 4.32 9,647 9,792 10,432Jul 17, 17 Since Inception -1.71 3.26 6.66 9,724 10,532 11,100


HDFC INFRASTRUCTURE FUND NAv as on Feb 28, 2019 ` 15.945


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC HOF - I - 1140D NOvEMBER 2017 (1) NAv as on Feb 28, 2019 ` 8.8780


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -11.15 -5.47 4.32 8,885 9,453 10,432Dec 06, 17 Since Inception -9.22 -1.20 7.42 8,878 9,853 10,920

# India Housing & Allied Businesses Index ## nIFTY 50 (Total Returns Index). The scheme is managed by Mr. Srinivas Rao Ravuri since inception.

SHOBHIT MEHROTRA

HDFC INCOME FUND NAv as on Feb 28, 2019 ` 41.4931


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index.

HDFC MEDIUM TERM DEBT FUND NAv as on Feb 28, 2019 ` 37.5870


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Short Term Bond Fund Index ## CRISIL 1 year T-Bill Index.

HDFC FLOATING RATE DEBT FUND NAv as on Feb 28, 2019 ` 32.4069


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Liquid Fund Index ## CRISIL 1 year T-Bill Index.

HDFC CREDIT RISK DEBT FUND NAv as on Feb 28, 2019 ` 15.6800


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Short Term Bond Fund Index ## CRISIL 10 year Gilt Index. Refer to note on performance disclosure on Page no. 36.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index. The Scheme is in existence for more than 1 year but less than 5 years. The scheme is managed by Mr. Shobhit Mehrotra since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

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(`)##





(%)

Benchmark Returns

(%)#


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Scheme (`)

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(`)##





February 2019 59




(%)

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(%)#


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(`)##





(%)

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(%)#


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(`)##





(%)

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(`)##





(%)

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(`)##





(%)

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(`)##





(%)

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(%)#


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Scheme (`)

Benchmark (`)#


(`)##





(%)

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(%)#


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Scheme (`)

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(`)##





(%)

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(%)#


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Scheme (`)

Benchmark (`)#


(`)##





(%)

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Scheme (`)

Benchmark (`)#


(`)##





(%)

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(%)#


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Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


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Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


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Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##






60 February 2019




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 7.60 7.13 7.48 10,760 10,713 10,748Aug 01, 17 Since Inception 5.97 3.84 6.78 10,959 10,613 11,091


KRISHAN KUMAR DAGA

HDFC ARBITRAGE FUND - WHOLESALE PLAN NAv as on Feb 28, 2019 ` 13.885


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 6.10 4.97 4.32 10,610 10,497 10,432Feb 29, 16 Last 3 Years 6.43 5.18 17.20 12,057 11,636 16,099Apr 07, 14 Since Inception 6.93 6.22 11.66 13,885 13,440 17,162

# nIFTY 50 Arbitrage Index ## nIFTY 50 (Total Returns Index). Scheme performance is not strictly comparable with that of its Additional Benchmark since the scheme does not take directional call in equity markets but is limited to availing arbitrage opportunities, etc.

HDFC INDEX FUND - SENSEX PLAN NAv as on Feb 28, 2019 ` 320.7024


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# S&P BSE SEnSEx (Total Returns Index) ## nIFTY 50 (Total Returns Index). Refer to note on performance disclosure on Page no. 22.

HDFC INDEX FUND - NIFTy 50 PLAN NAv as on Feb 28, 2019 ` 98.9045


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC GOLD FUND NAv as on Feb 28, 2019 ` 11.1135


Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Feb 28, 18 Last 1 Year 8.49 9.80 10,849 10,980Feb 29, 16 Last 3 Years 3.95 3.64 11,234 11,132Feb 28, 14 Last 5 Years 0.70 2.74 10,353 11,450Jan 01, 13 Since Inception 0.08 1.49 10,050 10,954

# Domestic Price of Physical Gold. The scheme is managed by Mr. Krishan Kumar Daga since October 19, 2015.

HDFC CHARITy FUND FOR CANCER CURE - ARBITRAGE PLAN^

NAv as on Feb 28, 2019 ` 10.238


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Arbitrage Index ## nIFTY 50 Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Krishan Kumar Daga since inception. ^Scheme offers Dividend option only. Returns of HDFC Charity Fund for Cancer Cure - Arbitrage Plan - Direct Plan are computed based on nAV of Dividend Option and all dividends (after statutory levy) are assumed to be reinvested in the units of the scheme at the then prevailing nAV (ex-dividend nAV).

ANUPAM JOSHI

HDFC LIQUID FUND NAv as on Feb 28, 2019 ` 3654.4202


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 21, 19 Last 7 days 6.83 6.88 2.96 10,013 10,013 10,006Feb 13, 19 Last 15 days 6.70 6.59 5.05 10,028 10,027 10,021Jan 31, 19 Last 1 Month 6.88 6.96 8.59 10,053 10,053 10,066Feb 28, 18 Last 1 Year 7.43 7.68 7.48 10,743 10,768 10,748Feb 29, 16 Last 3 Years 7.19 7.25 6.79 12,314 12,338 12,177Feb 28, 14 Last 5 Years 7.78 7.78 7.41 14,548 14,550 14,296Dec 31, 12 Since Inception 8.07 8.01 7.15 16,134 16,082 15,309

Returns less than 1 year period are simple annualized. # CRISIL Liquid Fund Index ## CRISIL 1 year T-Bill Index.

HDFC CORPORATE BOND FUND NAv as on Feb 28, 2019 ` 20.5822


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index. Refer to note on performance disclosure on Page no. 35.

HDFC LOW DURATION FUND NAv as on Feb 28, 2019 ` 40.4668


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


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Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##






February 2019 61


ANUPAM JOSHI....CONTINUED



(%)

Benchmark Returns

(%)#


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Scheme (`)

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(`)##





(%)

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(%)#


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(`)##





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(`)##





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(`)##





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(`)##





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(`)##





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(`)##





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(`)##





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Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



ANIL BAMBOLI

HDFC DyNAMIC DEBT FUND NAv as on Feb 28, 2019 ` 62.2490


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index.

HDFC SHORT TERM DEBT FUND NAv as on Feb 28, 2019 ` 20.5768


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC GILT FUND NAv as on Feb 28, 2019 ` 37.7728


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Dynamic Gilt Index ## CRISIL 10 year Gilt Index.



62 February 2019


HDFC BANKING AND PSU DEBT FUND NAv as on Feb 28, 2019 ` 14.9919


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC MONEy MARKET FUND NAv as on Feb 28, 2019 ` 3882.5230


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 7.82 7.68 7.48 10,782 10,768 10,748Feb 29, 16 Last 3 Years 7.33 7.25 6.79 12,363 12,338 12,177Feb 28, 14 Last 5 Years 7.86 7.78 7.41 14,603 14,550 14,296Dec 31, 12 Since Inception 8.12 8.01 7.15 16,183 16,082 15,309


HDFC OvERNIGHT FUND NAv as on Feb 28, 2019 ` 2807.8352


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 21, 19 Last 7 days 6.14 6.28 2.96 10,012 10,012 10,006Feb 13, 19 Last 15 days 6.16 6.28 5.05 10,025 10,026 10,021Jan 31, 19 Last 1 Month 6.18 6.31 8.59 10,047 10,048 10,066Feb 28, 18 Last 1 Year 6.27 6.26 7.48 10,627 10,626 10,748Feb 29, 16 Last 3 Years 6.17 6.19 6.79 11,969 11,973 12,177Feb 28, 14 Last 5 Years 6.78 6.85 7.41 13,884 13,930 14,296Dec 31, 12 Since Inception 7.05 7.13 7.15 15,223 15,292 15,309

Returns less than 1 year period are simple annualized. # CRISIL Overnight Index ## CRISIL 1 year T-Bill Index.

HDFC CHARITy FUND FOR CANCER CURE - DEBT PLAN^

NAv as on Feb 28, 2019 ` 10.4482


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Short Term Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Anil Bamboli since inception. ^ Scheme offers Dividend option only. Returns of HDFC Charity Fund for Cancer Cure - Debt Plan - Direct Plan are computed based on nAV of Dividend Option and all dividends (after statutory levy) are assumed to be reinvested in the units of the scheme at the then prevailing nAV (ex-dividend nAV).

HDFC FMP 1846D AUGUST 2013 (1) NAv as on Feb 28, 2019 ` 15.9363


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 6.22 7.13 7.48 10,622 10,713 10,748Feb 29, 16 Last 3 Years 7.28 7.64 6.79 12,348 12,470 12,177Feb 28, 14 Last 5 Years 8.50 9.04 7.41 15,039 15,420 14,296Aug 14, 13 Since Inception 8.77 9.02 7.54 15,936 16,147 14,966

# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The scheme is managed by Mr. Anil Bamboli since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Short Composite Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 5 years. The scheme is managed by Mr. Anil Bamboli since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

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(`)##





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(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





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Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1218D DECEMBER 2016 (1) NAv as on Feb 28, 2019 ` 11.7250


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##






February 2019 63




(%)

Benchmark Returns

(%)#


Returns (%) ##


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(%)#


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Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



MITEN LATHIA

HDFC CAPITAL BUILDER vALUE FUND NAv as on Feb 28, 2019 ` 291.415


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



CO-MANAGED By PRASHANT JAIN & SHOBHIT MEHROTRA

HDFC HyBRID DEBT FUND NAv as on Feb 28, 2019 ` 45.5689


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Hybrid Composite Debt 15:85 Index ## CRISIL 10 year Gilt Index. Refer to note on performance disclosure on Page no. 32.

CO-MANAGED By ANIL BAMBOLI & MITEN LATHIA

HDFC DyNAMIC PE RATIO FUND OF FUNDS NAv as on Feb 28, 2019 ` 18.685


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in equity instruments. The scheme is managed by Mr. Anil Bamboli & Miten Lathia since June 27, 2014.

CO-MANAGED By CHIRAG SETALvAD, ANIL BAMBOLI & KRISHAN KUMAR DAGA

HDFC MULTI - ASSET FUND NAv as on Feb 28, 2019 ` 31.5790


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# 90% nIFTY 50 Hybrid Composite Debt 65:35 Index + 10% Domestic Price of Gold ## nIFTY 50 (Total Returns Index). The Scheme formerly, a debt oriented hybrid fund, has undergone change in Fundamental attributes w.e.f. May 23, 2018 and become a multi asset fund investing in equities, debt and gold. Accordingly, the Scheme’s benchmark and additional benchmarks have also changed. Hence, the past performance of the Scheme since inception till May 22, 2018 may not strictly be comparable with those of the new benchmark and the additional benchmark. Scheme performance may not strictly be comparable with that of its Additional Benchmark in view of hybrid nature of the scheme where a portion of scheme’s investments are made in debt instruments and gold.

CO-MANAGED By vINAy KULKARNI, KRISHAN KUMAR DAGA & ANIL BAMBOLI

HDFC EQUITy SAvINGS FUND NAv as on Feb 28, 2019 ` 37.5030


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# 40% nIFTY 50 Arbitrage Index, 30% CRISIL Short Term Bond Fund Index and 30% nIFTY 50 (Total Returns Index) ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark, since a portion of scheme’s investments are made in equity instruments.




64 February 2019


CO-MANAGED By KRISHAN KUMAR DAGA & ANIL BAMBOLI

HDFC DAF - II - 1160D JANUARy 2016 NAv as on Feb 28, 2019 ` 12.7997


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - II - 1099D MARCH 2016 NAv as on Feb 28, 2019 ` 12.4134


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - II - 1111D APRIL 2016 NAv as on Feb 28, 2019 ` 12.2786


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - III - 1304D AUGUST 2016 NAv as on Feb 28, 2019 ` 11.8645


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - III - 1267D OCTOBER 2016 NAv as on Feb 28, 2019 ` 11.6984


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 6.77 6.37 7.48 10,677 10,637 10,748Oct 25, 16 Since Inception 6.92 8.70 6.53 11,698 12,161 11,598


HDFC DAF - III - 1224D NOvEMBER 2016 NAv as on Feb 28, 2019 ` 11.5841


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year 6.89 6.80 7.48 10,689 10,680 10,748Dec 07, 16 Since Inception 6.82 8.73 6.50 11,584 12,050 11,507


CO-MANAGED By CHIRAG SETALvAD & SHOBHIT MEHROTRA

HDFC RETIREMENT SAvINGS FUND - EQUITy PLAN

NAv as on Feb 28, 2019 ` 16.789


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Feb 28, 18 Last 1 Year -4.92 -2.08 4.32 9,508 9,792 10,432Feb 29, 16 Last 3 Years 18.79 16.88 17.20 16,761 15,965 16,099Feb 25, 16 Since Inception 18.78 16.90 17.23 16,789 16,002 16,137


HDFC RETIREMENTSAvINGS FUND - HyBRID EQUITy PLAN

NAv as on Feb 28, 2019 ` 16.616


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index).

HDFC RETIREMENT SAvINGS FUND - HyBRID DEBT PLAN

NAv as on Feb 28, 2019 ` 13.3878


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Hybrid Composite Debt 15:85 Index ## CRISIL 10 Year Gilt Index.



Managing Portfolio Since

Returns (%) (As on February 28, 2019)

Last 1 year (%) Last 3 years (%) Last 5 years (%)

Category I - FPI Portfolio (managed under a bilateral agreement under Regulation 24(b) and subject to applicable laws)

March 22, 2016 2.62 n.A. n.A.

Benchmark- MSCI India (Total Returns) 2.40 n.A. n.A.Past performance may or may not be sustained in the future. Returns greater than 1 year period are compounded annualised (CAGR). The above returns are computed using the Time Weighted Rate of Return (TWRR) methodology, to make them more comparable with the mutual fund scheme's returns. Inception date is March 22, 2016. The performance is not comparable with the performance of the aforementioned scheme(s) of HDFC Mutual Fund due to differing investment objective/s and fundamental differences in asset allocation, investment strategy and the regulatory environment. The said disclosure is pursuant to SEBI Circular no. Cir/IMD/DF/7/2012 dated February 28, 2012 pertaining to Regulation 24(b) of SEBI (Mutual Funds) Regulations, 1996. FPI - Foreign Portfolio Investor.

PERFORMANCE OF CATEGORy I - FPI PORTFOLIO (MANAGED By PRASHANT JAIN)

February 2019 65

DIvIDEND HISTORy ^

^ Past performance may or may not be sustained in the future. There is no assurance or guarantee to Unit holders as to rate/quantum of dividend distribution nor that the dividends will be paid regularly. After payment of the dividend, the per Unit nAV falls to the extent of the payout and statutory levy, if any. Please log on to www.hdfcfund.com for Record Date-wise listing of dividends declared.

HDFC Equity Fund (Past 3 years) Dividend Option

Record Date Regular Plan Direct Plan

Cum Div NAv (`)

Dividend per Unit (`) For Cum Div NAv (`)

Dividend per Unit (`) For

Individuals & HUF Others Individuals & HUF Others

Mar 17, 16 45.848 4.50 4.50 47.059 4.50 4.50Mar 23, 17 54.903 5.00 5.00 56.993 5.00 5.00Mar 22, 18 55.480 5.50 5.50 58.320 5.50 5.50

HDFC Top 100 Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Mar 03, 16 43.228 3.50 3.50 44.146 3.50 3.50Mar 09, 17 52.759 4.50 4.50 54.388 4.50 4.50Mar 06, 18 54.454 6.00 6.00 56.705 6.00 6.00

HDFC Capital Builder value Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Mar 01, 17 28.767 3.00 3.00 29.796 3.00 3.00Feb 22, 18 31.809 3.50 3.50 33.423 3.50 3.50Feb 21, 19 26.710 2.75 2.75 28.618 2.75 2.75

HDFC Focused 30 Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Mar 01, 17 20.219 2.00 2.00 21.216 2.00 2.00Feb 22, 18 21.508 2.25 2.25 22.914 2.25 2.25Feb 21, 19 16.853 1.75 1.75 18.257 1.75 1.75

HDFC Arbitrage Fundnormal Dividend Option (Past 3 months)

Record Date Wholesale Plan Direct Plan

Cum Div NAv (`)




Dec 20, 18 10.441 0.050 0.050 10.794 0.050 0.050Jan 24, 19 10.439 0.050 0.050 10.799 0.050 0.050Feb 21, 19 10.420 0.050 0.050 10.785 0.050 0.050

Monthly Dividend Option (Past 3 months)

Record Date Wholesale Plan Wholesale Plan - Direct Plan

Cum Div NAv (`)




Dec 20, 18 10.853 0.050 0.050 10.519 0.050 0.050Jan 24, 19 10.854 0.050 0.050 10.523 0.050 0.050Feb 21, 19 10.836 0.050 0.050 10.508 0.050 0.050

HDFC Growth Opportunities Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Feb 23, 17 22.342 2.25 2.25 24.880 2.25 2.25Mar 01, 18 22.901 2.25 2.25 25.854 2.25 2.25Feb 28, 19 19.807 2.00 2.00 22.663 2.00 2.00

HDFC Mid-Cap Opportunities Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Mar 23, 17 31.806 2.25 2.25 36.789 2.25 2.25Mar 01, 18 34.912 3.00 3.00 41.189 3.00 3.00Feb 28, 19 28.574 2.50 2.50 34.574 2.50 2.50

HDFC Small Cap Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Feb 25, 16 17.986 2.00 2.00 18.565 1.99 1.99Mar 01, 17 22.892 2.00 2.00 24.040 2.00 2.00Mar 22, 18 28.810 2.75 2.75 30.776 1.00 1.00

HDFC Hybrid Equity Fund (Past 3 quarters) Dividend Option


Cum Div NAv (`)




Jun 25, 18 12.614 0.320 0.320 13.183 0.320 0.320Sep 25, 18 12.214 0.320 0.320 12.822 0.320 0.320 Dec 26, 18 11.943 0.320 0.320 12.587 0.320 0.320

HDFC Balanced Advantage Fund (Past 3 months) Dividend Option


Cum Div NAv (`)




Dec 26, 18 28.925 0.310 0.310 30.398 0.310 0.310Jan 25, 19 28.413 0.310 0.310 29.901 0.310 0.310Feb 25, 19 27.865 0.310 0.310 29.368 0.310 0.310

HDFC TaxSaver (Past 3 years) Dividend Option(An open-ended equity linked savings scheme with a lock-in period of 3 years)


Cum Div NAv (`)




Mar 10, 16 53.821 6.00 6.00 54.911 6.00 6.00Mar 16, 17 66.383 6.50 6.50 68.370 6.50 6.50Mar 15, 18 66.562 7.00 7.00 69.256 7.00 7.00

HDFC Infrastructure Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Mar 17, 16 12.129 1.000 1.000 - - -Mar 23, 17 14.388 1.500 1.500 17.736 1.500 1.500Mar 15, 18 14.630 1.750 1.750 18.570 1.750 1.750

HDFC Hybrid Debt Fund Monthly Dividend Option (Past 3 months)


Cum Div NAv (`)




Dec 26, 18 - - - 13.7799 0.0800 0.0741Jan 25, 19 13.0436 0.0800 0.0741 13.5880 0.0800 0.0741Feb 25, 19 12.9356 0.0800 0.0741 13.4857 0.0800 0.0741

Quarterly Dividend Option (Past 3 quarters)


Cum Div NAv (`)




Jun 25, 18 14.1797 0.2400 0.2222 14.6858 0.2400 0.2222Sep 25, 18 13.9404 0.2400 0.2222 14.4729 0.2400 0.2222 Dec 26, 18 14.0426 0.2400 0.2222 - - -

HDFC Equity Savings Fund (Past 3 quarters) Dividend Option


Cum Div NAv (`)




Jun 25, 18 11.4760 0.2210 0.2210 12.1520 0.2210 0.2210Sep 25, 18 11.4350 0.2210 0.2210 12.1760 0.2210 0.2210 Dec 26, 18 11.1540 0.2210 0.2210 11.9350 0.2210 0.2210

66 February 2019

DIvIDEND HISTORy ^

^ Past performance may or may not be sustained in the future. There is no assurance or guarantee to Unit holders as to rate/quantum of dividend distribution nor that the dividends will be paid regularly. After payment of the dividend, the per Unit nAV falls to the extent of the payout and statutory levy, if any. Please log on to www.hdfcfund.com for Record Date-wise listing of dividends declared.

HDFC Multi-Asset Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Mar 03, 16 11.9008 0.7223 0.6692 12.5570 0.7223 0.6692Mar 09, 17 12.3216 0.7945 0.7361 13.1369 0.7945 0.7361Mar 01, 18 12.2077 0.7945 0.7361 13.1690 0.7945 0.7361

HDFC Income Fund (Past 3 quarters) Quarterly Dividend Option


Cum Div NAv (`)




Jun 25, 18 10.7511 0.0500 0.0463 11.2820 0.0500 0.0463Sep 25, 18 10.7248 0.0500 0.0463 11.2729 0.0500 0.0463 Dec 26, 18 11.0359 0.1500 0.1389 11.6180 0.1500 0.1389

HDFC Dynamic Debt FundQuarterly Dividend Option (Past 3 quarters)


Cum Div NAv (`)




Jun 25, 18 11.7857 0.0500 0.0463 12.3138 0.0500 0.0463Sep 25, 18 11.7741 0.0500 0.0463 12.3239 0.0500 0.0463 Dec 26, 18 12.1230 0.1500 0.1389 12.7115 0.1500 0.1389

Half-yearly (Dividend Option) (Past 2 years)


Cum Div NAv (`)




Sep 25, 17 11.8876 0.3000 0.2779 12.8166 0.3000 0.2779Mar 26, 18 11.3726 0.1000 0.0926 12.3307 0.1000 0.0926Sep 25, 18 11.2951 0.1000 0.0926 - - -

yearly (Dividend Option) (Past 3 years)


Cum Div NAv (`)




Mar 28, 16 13.0240 0.4000 0.3706 13.4221 0.4500 0.4169Mar 27, 17 13.8526 0.8500 0.7875 14.3149 0.8500 0.7875Mar 26, 18 13.0626 0.4000 0.3706 13.6262 0.4000 0.3706

HDFC Medium Term Debt Fundnormal Dividend Option (Past 3 months)


Cum Div NAv (`)




May 11, 17 - - - 10.6307 0.0150 0.0139May 25, 17 - - - 10.6651 0.0398 0.0369Jun 12, 17 - - - 10.6935 0.0603 0.0559Jul 10, 17 - - - 10.6603 0.0363 0.0337

HDFC Corporate Bond FundQuarterly Dividend Option (Past 3 quarters)


Cum Div NAv (`)




Jun 25, 18 10.2326 0.0468 0.0433 10.1312 0.0489 0.0453Sep 25, 18 10.2690 0.0731 0.0677 10.1666 0.0745 0.0690 Dec 26, 18 10.5053 0.2431 0.2251 10.3997 0.2423 0.2244

HDFC Gilt Fund(Dividend Option) (Past 3 quarters)


Cum Div NAv (`)




Jun 25, 18 10.9117 0.0500 0.0463 11.2117 0.0500 0.0463Sep 25, 18 10.9269 0.0500 0.0463 11.2391 0.0500 0.0463 Dec 26, 18 11.3169 0.1500 0.1389 11.6527 0.1500 0.1389

HDFC Liquid FundMonthly Dividend Option (Past 3 months)


Cum Div NAv (`)




Dec 31, 18 1,033.5223 5.2024 4.8174 1,033.6176 5.2710 4.8810Jan 28, 19 1,031.9180 4.0468 3.7473 1,031.9970 4.1037 3.8000Feb 25, 19 1,031.6748 3.8716 3.5851 1,031.7540 3.9286 3.6379

HDFC Floating Rate Debt FundMonthly Dividend Option (Past 3 months)

Record Date Wholesale Option Wholesale Option - Direct Plan

Cum Div NAv (`)




Dec 31, 18 - - - 10.2385 0.0680 0.0630Jan 28, 19 10.2111 0.0483 0.0447 10.2123 0.0491 0.0455 Feb 25, 19 10.1996 0.0400 0.0370 10.2008 0.0408 0.0378

Record Date Retail Option

Cum Div NAv (`)


Individuals & HUF Others

Dec 31, 18 10.2351 0.0655 0.0607Jan 28, 19 10.2095 0.0471 0.0436 Feb 25, 19 10.1981 0.0389 0.0360

HDFC Low Duration FundMonthly Dividend Option (Past 3 months)

Record Date Retail Option Retail Option - Direct Plan

Cum Div NAv (`)




Dec 31, 18 10.2312 0.0657 0.0608 10.2393 0.0697 0.0646Jan 28, 19 10.2031 0.0455 0.0421 10.2103 0.0488 0.0452Feb 25, 19 10.1911 0.0368 0.0341 10.1983 0.0402 0.0372

Record Date Wholesale Option

Cum Div NAv (`)


Individuals & HUF Others

Dec 31, 18 10.2564 0.0694 0.0643Jan 28, 19 10.2275 0.0486 0.0450Feb 25, 19 10.2155 0.0400 0.0370

HDFC Credit Risk Debt FundHalf-yearly Dividend Option (Past 2 years)


Cum Div NAv (`)




Mar 27, 17 10.9005 0.3051 0.2827 10.9506 0.3412 0.3161Sep 25, 17 10.8965 0.3159 0.2927 10.9481 0.1390 0.1288Mar 26, 18 10.6549 0.2889 0.2676 11.0050 0.4355 0.4035Jun 25, 18 10.3049 0.0370 0.0343 10.4776 0.0763 0.0707Sep 25, 18 10.3274 0.0533 0.0493 10.4663 0.0680 0.0630 Dec 26, 18 10.5547 0.2168 0.2007 10.6929 0.2312 0.2141

HDFC Ultra Short Term FundMonthly Dividend Option (Past 3 months)


Cum Div NAv (`)




Dec 31, 18 10.1390 0.0641 0.0594 10.1422 0.0664 0.0615Jan 28, 19 10.1146 0.0465 0.0431 10.1169 0.0482 0.0446Feb 25, 19 10.1068 0.0409 0.0379 10.1091 0.0426 0.0394

February 2019 67

Disclaimer: The views expressed herein are based on internal data, publicly available information and other sources believed to be reliable, but involve uncertainties that could cause actual events to differ materially

from those expressed or implied in such statements. The document is given for general and information purpose and is neither an investment advice nor an offer to sell nor a solicitation. While due care has been

exercised while preparing this document, HDFC Asset Management Company Limited (“HDFC AMC”) does not warrant the completeness or accuracy of the information. neither HDFC AMC, nor any person connected

with it, accepts any liability arising from the use of this material. The recipient of this material should rely on their investigations and take their own professional advice.

HDFC SEnSEx ETF, HDFC Index Fund - SEnSEx Plan (“Schemes”) is based on the S&P BSE SEnSEx Index. S&P® is a registered trademark of S&P Financial Services Limited (S&P). BSE® and SEnSEx® are registered trademarks

of BSE Limited. The Schemes is not sponsored, endorsed marketed or promoted by S&P, BSE or their respective affiliates. Please refer to the Scheme Information Document for disclaimers w.r.t. S&P BSE SENSEX Index.

For HDFC nIFTY 50 ETF & HDFC Index Fund - nIFTY 50 Plan: The Scheme of HDFC Mutual Fund (the “Product(s)”) are not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (“IISL”).

IISL does not make any representation or warranty, express or implied, to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s)

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has no obligation or liability in connection with the administration, marketing or trading of the Product(s).

IISL is engaged in the business of developing, constructing, compiling, computing and maintaining various equity indices. The relationship of IISL to HDFC AMC is only in respect of the rights granted to use certain

trademarks and trade names of the Index in connection with the utilisation of the Index data relating to such Index. The Index is determined, composed and calculated by IISL without regard to HDFC AMC. IISL has

no obligation to take the needs of HDFC AMC into consideration in determining, composing or calculating the nIFTY Indices.

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