January 2019 - files.hdfcfund.com MF Factsheet- January 2019_1.pdfJanuary 2019 3 Equity Market update I n Jan19, Indian equity markets performance was mixed with SENSEX / NIFTY 50

January 2019

2 January 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

January 2019 3

Equity Market update

In Jan19, Indian equity markets performance was mixed with SENSEX / NIFTY 50 ending flat amid concerns over slowdown in global growth, impending budget, rising oil prices and dovish commentary by US Federal Reserve. SENSEX / NIFTY 50 outperformed Midcaps / Smallcaps indices during the month as midcaps and smallcaps continued to correct. IT and Banks performed well while Auto, Capital goods, Metals and Power sectors underperformed.

Performance of global equity markets was good with major indices in US, Europe and major Asian markets delivering positive returns on month-on-month (m-o-m) basis. However, this should be viewed in context of their underperformance in CY18.

The table below gives the details of performance of key domestic and global indices.

% Change in Indices CY 2018 1M

S&P BSE India Auto (22.1) (11.2)S&P BSE India Bankex 5.3 1.2S&P BSE India Capital Goods (1.6) (8.0)S&P BSE India FMCG 10.6 (1.8)S&P BSE India Healthcare (5.9) (0.3)S&P BSE India Metal (20.7) (7.4)S&P BSE India Power (16.1) (5.9)S&P BSE India Oil & Gas (15.6) (1.0)S&P BSE India IT 24.9 8.3S&P BSE SENSEX 5.9 0.5NIFTY 50 3.2 (0.3)NIFTY Midcap 100 (15.4) (5.4)NIFTY Smallcap (29.1) (4.9)

% Change in Indices

CY 2018 1M

S&P 500 (6.2) 7.9FTSE (12.5) 3.6DAX (18.3) 5.8CAC (11.0) 5.5Nikkei (12.1) 3.8Hang Seng (13.6) 8.1KOSPI (17.3) 8.0Shanghai (24.6) 3.6MSCI Emerging Market Index

(16.6) 8.7

During the month, Brent crude prices rose sharply by ~15% and closed at USD 61.9 per barrel. This was primarily driven by production cuts by OPEC and Russia. Further, concerns over fall in Venezuela’s oil production also drove the prices higher.

% Change CY 2018 1MBrent Crude (19.5) 15.0Gold (1.6) 3.0Steel (13.1) 1.2Zinc (24.1) 8.3Copper (16.7) 3.1Aluminium (17.4) 1.6Lead (19.5) 4.0

Most major commodities prices rose on m-o-m basis. With US Fed commentary turning dovish and progress in trade war negotiation between US and China, the metal prices increased during the month. Zinc was the major outperformer in commodities and rose by 8% m-o-m on back of fall in physical inventories on exchanges. Gold prices increased m-o-m on back of weakening USD and concerns over global growth.

INR ended the month at 71.1 vs USD, down ~2% on back of rise in crude prices and negative FII flows.

After being net buyers over past 2 months, FPIs turned net sellers and sold equity worth USD 0.6 bn in January 2019. Total FPI’s Equity outflows in FY19YTD till January 2019 have been close to US$7.2bn. 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 Dec18 and 9MFY19 were near Rs 66.5 bn and Rs 1,010 bn respectively.

Out of the Q3FY19 results declared so far, results of corporate banks and construction companies were above expectations while for IT, Oil & Gas, Telecom, Metals, Agro chemicals & consumer staples were largely in line with expectations. Earnings for retail banks, wholesale focussed NBFCs, and Auto were below or slightly below expectations.

NIFTY 50 is trading near 16.6x 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.

Outlook

In view of the above and expected recovery in earnings, there is merit in increasing allocation to equities, especially in multi cap / large cap funds 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 (7.17 GoI 2028) ended the month of January 2019 at 7.48%, up by 11 bps over the previous month end. New 10-year G-sec auction was held during the month and was issued at 7.26% and ended the month of January 2019 at 7.43%. The table below gives a summary view of movement of key rates & liquidity.

CY18 Jan 19 Change (%)10Yr G-Sec Yield (%, 7.17 GoI 2028) 7.37 7.48 0.11AAA 10Year Corporate Bond Yields (%) 8.33 8.40 0.7AAA 10Y corporate bond spread against 7.17 GS 2028 Yield (bps) 82 78 -0.04

Average liquidity absorbed / (infused) by RBI* (INR bn) (approx.) -1,016 -336

MIBOR Overnight Rate (%) 6.73 6.50 -0.23*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 500 billion in Jan19 and also announced plans to conduct further OMOs of INR 375 bn in Feb19. Net FII debt flows were marginally negative with outflows of USD 0.2 bn during the month as against inflows of USD 0.7 bn in Dec18. In the 10MFY19, net FII debt outflows aggregated to USD 7.0 bn as against inflows of USD 19.9 bn during the corresponding period last year. INR ended the month at 71.1, a m-o-m depreciation of 1.9% against USD on back of rise in crude prices (+15%).

The annual rate of retail inflation, CPI declined marginally to 2.2%, down 10 bps m-o-m led by fall in food prices (mainly pulses, vegetables, fruits and sugar & confectionary). Core CPI (CPI excluding food, fuel, transportation & housing) however inched up to 6% from 5.6% a month ago, mainly on account of price rise in services, especially rural health and education.

For the month % Nov-18 Dec-18 Change (%)CPI 2.3 2.2 -0.1Food & beverages -1.7 -1.5 0.2Fuel and Light 7.2 4.5 -2.7Housing 6.0 5.3 -0.7Core CPI 5.6 6.0 0.4

The government presented Union Budget FY20 in which the fiscal deficit target for FY20 was set at 3.4% of GDP. In FY20 budgeted net market borrowings (Gsec + Tbills) are ~Rs 5.0 trillion compared to ~Rs 4.5 trillion in FY19. Further, government has also revised its fiscal deficit for FY19 to 3.4% of GDP from 3.3% (budgeted estimate) due to lower GST collection and additional support measures for farmers. Increase in expenditures is expected to be partly set off by better direct tax collection and higher dividends from RBI.

India’s trade deficit for Dec18 reduced to USD 13.1 bn from USD 16.7 bn primarily led by reduction in net oil imports on account of fall in global crude prices. Further, trade deficit ex of oil & gold reduced in Dec18, partly on account of seasonally higher imports in November due to festive season in India.

Amount in USD bn Nov-18 Dec-18 Change (%)Trade Deficit 16,715 13,128 -21.5

Net Oil imports 8,341 6,478 -22.3Net Gold imports* 1,936 2,815 45.4Trade deficit ex oil & gold 6,438 3,835 -40.4

* includes net imports of gold, silver & precious stones adjusted for gems & jewellery exports.

GST collections in January 2019 (for month of December 2018) improved to ~INR 1,025 bn from ~INR 947 bn a month ago. Average monthly collection in FYTD19 is ~7.7% higher than FY18’s average monthly collection (Aug’17 to Mar’18).

In its bi-monthly monetary policy review held in Feb19, Monetary Policy Committee (MPC) reduced the policy repo rate by 25bps to 6.25% and changed its policy stance to “neutral” from “calibrated tightening”. In other measures, RBI announced that rated exposures of banks to all NBFCs (except Core Investment Companies) would be risk weighted based on the credit ratings assigned (as against current practice of providing 100% risk weights irrespective of ratings), similar to that of corporates.

^ inclusive of RBI Sixth Bi-monthly Monetary Policy Statement dated February 7, 2019

OutlookThe Monetary Policy Committee’s (MPC) decision to reduce policy rate by 25bps came as

a positive surprise for the market. Given that RBI forecasts inflation over next one year below its medium term target of 4%, there is a chance of further rate cut in next 6 months unless inflation surprises negatively. However, in our opinion, any future action by RBI is likely to be data driven and the rate cut cycle is likely to be a shallow one.

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 yields. 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 a modest uptick in growth in FY20, credit growth outpacing deposit growth and likely fiscal pressure.

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 January 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.

January 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 JANUARY 31, 2019) NAV PER UNIT (`)

Regular Plan - Growth Option 629.488Regular Plan - Dividend Option 53.152Direct Plan - Growth Option 661.059Direct Plan - Dividend Option 56.624

ASSETS UNDER MANAgEMENT (`) iN CRORE

As on January 31, 2019 20,855.60Average for Month of January, 2019 20,823.51

qUANTiTATiVE DATA

Portfolio Turnover Ratio (Last 1 year) 23.95%

Risk Ration Standard Deviation 5.072%n Beta 1.096n Sharpe Ratio* 0.159

computed for the 3-yr period ended January 31, 2019. Based on month-end NAV. * Risk free rate: 6.50% (Source: FIMMDA MIBOR)

TOTAL ExPENSE RATIO (As on January 31, 2019)Including Additional expenses and Goods and Service Tax on Management Fees

Regular: 2.06% Direct: 1.34%

#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) 2,890.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) 68,508.28 6,354.82 2,401.30 775.15 418.06 121.37 Returns (%) 21.63 15.34 13.29 10.18 9.95 2.11 Benchmark Returns (%) # 14.51 12.34 11.76 9.73 8.36 -4.58 Additional Benchmark Returns (%) ## N.A. 12.29 11.40 10.13 10.81 1.57

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 January 31, 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 (`)##

Jan 31, 18 Last 1 Year -6.37 -5.95 -0.35 9,363 9,405 9,965Jan 29, 16 Last 3 Years 15.69 13.80 14.20 15,503 14,753 14,910Jan 31, 14 Last 5 Years 16.79 15.15 13.61 21,742 20,256 18,930Jan 01, 95 Since Inception 18.75 11.36 N.A. 629,488 133,578 N.A.

Returns greater than 1 year period are compounded annualized (cAGR). 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

• State Bank of India Banks 9.86

• IcIcI Bank Ltd. Banks 9.74

• Infosys Ltd. Software 9.58

• Larsen and Toubro Ltd. construction Project 8.13

• Reliance Industries Ltd. Petroleum Products 6.00

• HDFc Bank Ltd. Banks 4.54

• ITc Ltd. consumer Non Durables 3.76

• NTPc Ltd. Power 3.60

• Axis Bank Ltd. Banks 2.87

• Power Grid corporation of India Ltd Power 2.75

Tata consultancy Services Ltd. Software 2.69

Bank of Baroda Banks 2.47

Power Finance corporation Ltd Finance 2.26

Aurobindo Pharma Ltd. Pharmaceuticals 2.06

Rural electrification corporation Ltd. Finance 2.05

cESc Ltd. Power 1.95

GAIL (India) Ltd. Gas 1.91

Vedanta Ltd. Non - Ferrous Metals 1.69

Bharat Petroleum corporation Ltd. Petroleum Products 1.57

Tata Steel Ltd. Ferrous Metals 1.54

Housing Development Finance corporation Ltd. £ Finance 1.50

Tata chemicals Ltd. chemicals 1.42

cipla Ltd. Pharmaceuticals 1.25

Oracle Financial Services Software Ltd. Software 1.23

Kalpataru Power Transmission Ltd. Power 1.22

canara Bank Banks 1.13

cOAL INDIA LTD Minerals/Mining 1.04

Praj Industries Ltd. Industrial capital Goods 1.01

Punjab National Bank Banks 0.89

UPL Ltd. Pesticides 0.89

Siemens Ltd. Industrial capital Goods 0.87

L&T Technology Services Ltd. Software 0.84

container corporation of India Ltd. Transportation 0.80

BeML Ltd. Industrial capital Goods 0.70

cG Power and Industrial Solutions Ltd. Industrial capital Goods 0.62Time Technoplast Ltd. Industrial Products 0.45


Bharat Dynamics Ltd. Aerospace & Defence 0.44Oriental Bank of commerce Banks 0.38Simplex Infrastructures Ltd. construction 0.34Spencers Retail Ltd. Retailing 0.29cesc Ventures Ltd. Software 0.24Hindustan construction company Ltd. construction Project 0.22Ramco Systems Ltd. Software 0.15Balkrishna Industries Ltd. Auto Ancillaries 0.11Reliance Nippon Life Asset Management Ltd. Finance 0.11Sub Total 99.16Preference SharesZee entertainment enterprises Ltd Media & entertainment 0.02Sub Total 0.02Total 99.18cash, cash Equivalents and Net current Assets 0.82

Grand Total 100.00

• Top Ten Holdings, £ co-sponsor

PORTFOLIO

Industry Allocation of Equity Holding (% of Net Assets)

0.020.110.290.340.440.450.800.891.041.421.541.691.913.203.313.76

5.927.578.359.52

14.7331.88

0 5 10 15 20 25 30 35

Media & EntertainmentAuto Ancillaries

RetailingConstruction

Aerospace & DefenceIndustrial Products

TransportationPesticides

Minerals/MiningChemicals

Ferrous MetalsNon - Ferrous Metals

GasIndustrial Capital Goods

PharmaceuticalsConsumer Non Durables

FinancePetroleum Products

Construction ProjectPower

SoftwareBanks

KEY FACTS

6 January 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 Mar 20, 17)

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) 3,000.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) 41,679.84 6,229.19 2,541.93 780.16 405.80 115.05 Returns (%) 17.52 15.11 14.36 10.43 7.93 -7.54 Benchmark Returns (%) # N.A. 12.34 11.76 9.73 8.36 -4.58 Additional Benchmark Returns (%) ## N.A. 12.29 11.40 10.13 10.81 1.57

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 (`)#


(`)##Jan 31, 18 Last 1 Year -9.20 -5.95 -0.35 9,080 9,405 9,965Jan 29, 16 Last 3 Years 13.76 13.80 14.20 14,738 14,753 14,910Jan 31, 14 Last 5 Years 17.39 15.15 13.61 22,305 20,256 18,930Feb 01, 94 Since Inception 14.24 N.A. N.A. 279,512 N.A. N.A.

Returns greater than 1 year period are compounded annualized (cAGR). 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 9.04• ITc Ltd. consumer Non Durables 5.12• Reliance Industries Ltd. Petroleum Products 4.62• Infosys Ltd. Software 3.55• Axis Bank Ltd. Banks 3.33• Bharat Petroleum

corporation Ltd. Petroleum Products 3.20• GAIL (India) Ltd. Gas 3.20• IcIcI Bank Ltd. Banks 3.18• Indusind Bank Ltd. Banks 2.95• Vedanta Ltd. Non - Ferrous Metals 2.92Housing Development Finance corporation Ltd. £ Finance 2.81Kotak Mahindra Bank Ltd. Banks 2.23Larsen and Toubro Ltd. construction Project 2.21Persistent Systems Ltd. Software 2.21Ambuja cements Ltd. cement 2.16YeS Bank Ltd. Banks 1.96Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.91NTPc Ltd. Power 1.74Apollo Tyres Ltd. Auto Ancillaries 1.72Aurobindo Pharma Ltd. Pharmaceuticals 1.50Mahindra & Mahindra Ltd. Auto 1.47S H Kelkar and company Ltd. consumer Non Durables 1.45Indostar capital Finance Ltd. Finance 1.38Oracle Financial Services Software Ltd. Software 1.32cipla Ltd. Pharmaceuticals 1.30coal India Ltd Minerals/Mining 1.30Inox Leisure Ltd. Media & entertainment 1.30Bajaj consumer care Ltd. consumer Non Durables 1.29State Bank of India Banks 1.27Wipro Ltd. Software 1.26Bharti Airtel Ltd. Telecom - Services 1.16Repco Home Finance Ltd Finance 1.15chambal Fertilizers & chemicals Ltd. Fertilisers 1.08VRL Logistics Ltd. Transportation 1.04Trent Ltd. Retailing 1.02JK cement Ltd. cement 1.00Thyrocare Technologies Ltd. Healthcare Services 0.99Max Financial Services Ltd. Finance 0.97Bharat Financial Inclusion Ltd. Finance 0.89FAG Bearings India Ltd. Industrial Products 0.89Newgen Software Technologies Ltd Software 0.88Indoco Remedies Ltd. Pharmaceuticals 0.87Spicejet Ltd. Transportation 0.83Advanced enzyme Technologies Ltd.

consumer Non Durables 0.81



Solar Industries India Ltd. chemicals 0.78NHPc Ltd. Power 0.76Ashoka Buildcon Ltd. construction Project 0.75Gujarat Pipavav Port Ltd. Transportation 0.74Zee entertainment enterprises Ltd Media & entertainment 0.73Voltas Ltd. construction Project 0.66Dilip Buildcon Ltd. construction 0.52Siti Networks Ltd. Media & entertainment 0.47Wonderla Holidays Ltd. Hotels/Resorts & Other

Recreational Activities 0.44Blue Star Ltd. consumer Durables 0.42entertainment Network (India) Ltd. (India) Ltd. Media & entertainment 0.39Bharat Dynamics Ltd. Aerospace & Defence 0.35Sadbhav Infrastructure Project Ltd. (corporate Guarantee of Sadbhav engineering Ltd.) construction Project 0.34Matrimony.com Ltd. Services 0.19Sub Total 96.82cash margin 0.04 cash, cash Equivalents and Net current Assets 3.14

Grand Total 100.00


PORTFOLIO


0.190.350.420.440.520.890.991.021.081.161.301.471.581.722.502.612.892.923.163.203.965.587.207.828.679.22

23.96

0 5 10 15 20 25 30Services

Aerospace & DefenceConsumer Durables

Hotels, Resorts & Other Recreational ActivitiesConstruction

Industrial ProductsHealthcare Services

RetailingFertilisers

Telecom - ServicesMinerals/Mining

AutoChemicals

Auto AncillariesPower

TransportationMedia & Entertainment

Non - Ferrous MetalsCement

GasConstruction Project

PharmaceuticalsFinance

Petroleum ProductsConsumer Non Durables

SoftwareBanks

KEY FACTS

January 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 JANUARY 31, 2019) NAV PER UNIT (`)Regular Plan - Growth Option 466.056Regular Plan - Dividend Option 51.525Direct Plan - Growth Option 485.408Direct Plan - Dividend Option 54.296

ASSETS UNDER MANAgEMENT (`) iN CROREAs on January 31, 2019 15,397.69Average for Month of January, 2019 15,259.87

qUANTiTATiVE DATAPortfolio Turnover Ratio (Last 1 year) 24.08%Risk Ration Standard Deviation 4.672%n Beta 1.042n Sharpe Ratio* 0.172computed for the 3-yr period ended January 31, 2019. Based on month-end NAV. * Risk free rate: 6.50% (Source: FIMMDA MIBOR)

TOTAL ExPENSE RATIO (As on January 31, 2019)Including Additional expenses and Goods and Service Tax on Management FeesRegular: 2.09% Direct: 1.44%


##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 87.86%Mid cap 10.28%Small cap 0.26%

§ 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) 2,680.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) $$ 36,363.66 6,102.84 2,309.37 779.34 421.60 122.73 Returns (%) $$ 19.64 14.88 12.56 10.39 10.52 4.23 Benchmark Returns (%) # N.A. 12.78 11.95 10.21 10.02 -0.69 Additional Benchmark Returns (%) ## 14.25 12.69 11.82 10.88 12.58 4.42



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 investedScheme (`)

$$Benchmark

(`)#Additional

Benchmark (`)##

Jan 31, 18 Last 1 Year -3.29 -2.11 2.06 9,671 9,789 10,206Jan 29, 16 Last 3 Years 15.89 14.34 14.86 15,584 14,965 15,171Jan 31, 14 Last 5 Years 15.81 14.45 13.60 20,841 19,648 18,929Oct 11, 96 Since Inception 19.84 N.A. 13.40 568,266 N.A. 165,504

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• IcIcI Bank Ltd. Banks 8.56• Reliance Industries Ltd. Petroleum Products 8.20• State Bank of India Banks 8.20• Infosys Ltd. Software 7.92• HDFc Bank Ltd. Banks 7.10• Larsen and Toubro Ltd. construction Project 5.77• ITc Ltd. consumer Non Durables 4.57• Tata consultancy Services Ltd. Software 4.24• Axis Bank Ltd. Banks 3.92• NTPc Ltd. Power 3.48Power Grid corporation of India Ltd Power 2.63Housing Development finance corporation Ltd. £ Finance 2.55coal India Ltd. Minerals/Mining 2.12Hindustan Petroleum corporation Ltd. Petroleum Products 1.92Aurobindo Pharma Ltd. Pharmaceuticals 1.86Power Finance corporation Ltd Finance 1.75Tata chemicals Ltd. chemicals 1.42GAIL (India) Ltd. Gas 1.41Tata Steel Ltd. Ferrous Metals 1.38Vedanta Ltd. Non - Ferrous Metals 1.32cESc Ltd. Power 1.27Rural electrification corporation Ltd. Finance 1.23Bharat Petroleum corporation Ltd. Petroleum Products 1.20canara Bank Banks 1.06Bank of Baroda Banks 1.04cipla Ltd. Pharmaceuticals 0.98UPL Ltd. Pesticides 0.94Oil & Natural Gas corporation Ltd. Oil 0.87Bank of India Banks 0.85Oracle Financial Services Software Ltd Software 0.71ABB India Ltd. Industrial capital Goods 0.67Bharat electronics Ltd. Industrial capital Goods 0.67HcL Technologies Ltd. Software 0.67Wipro Ltd. Software 0.66Tech Mahindra Ltd. Software 0.63Ambuja cements Ltd. cement 0.58Siemens Ltd. Industrial capital Goods 0.54Punjab National Bank Banks 0.53Indian Oil corporation Ltd. Petroleum Products 0.52


container corporation of India Ltd. Transportation 0.51Union Bank of India Banks 0.51Hindalco Industries Ltd Non - Ferrous Metals 0.47Steel Authority of India Ltd. Ferrous Metals 0.36NHPc Ltd. Power 0.28Spencers Retail Ltd. Retailing 0.19cesc Ventures Ltd. Software 0.07LIc Housing Finance Ltd. Finance 0.04Lupin Ltd. Pharmaceuticals 0.04Sub Total 98.41Preference SharesZee entertainment enterprises Ltd Media & entertainment 0.02Sub Total 0.02Total 98.43cash, cash Equivalents and Net current Assets 1.57Grand Total 100.00


PORTFOLIO


0.020.190.510.580.870.941.411.421.741.791.882.122.88

4.575.575.77

7.6611.84

14.9031.77

0 5 10 15 20 25 30 35

Media & EntertainmentRetailing

TransportationCement

OilPesticides

GasChemicals


Industrial Capital GoodsMinerals/MiningPharmaceuticals

Consumer Non DurablesFinance

Construction ProjectPower

Petroleum ProductsSoftware

Banks

KEY FACTS

8 January 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 4.33%Mid cap 69.58%Small cap 19.09%¥ 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) 1,400.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) 4,161.88 3,049.29 767.99 379.62 110.44 Returns (%) 17.47 17.74 9.80 3.47 -14.38 Benchmark Returns (%) # 12.59 12.95 8.50 2.15 -16.40 Additional Benchmark Returns (%) ## 10.96 11.40 10.13 10.81 1.57


PERFORMANCE ^ - Regular plan - growth Option

Date Period Scheme Returns

(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year -12.75 -17.88 -0.35 8,725 8,212 9,965Jan 29, 16 Last 3 Years 12.70 11.90 14.20 14,330 14,027 14,910Jan 31, 14 Last 5 Years 20.73 18.84 13.61 25,659 23,711 18,930Jun 25, 07 Since Inception 15.09 11.02 9.65 51,158 33,675 29,143

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• Sundram Fasteners Ltd. Auto Ancillaries 3.85• cholamandalam Investment

& Finance Finance 3.65• Aarti Industries Ltd. chemicals 3.43• Balkrishna Industries Ltd. Auto Ancillaries 3.30• Torrent Pharmaceuticals Ltd. Pharmaceuticals 3.08• city Union Bank Ltd. Banks 3.02• Voltas Ltd. construction Project 2.83• RBL Bank Ltd. Banks 2.77• Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 2.67• Tata chemicals Ltd. chemicals 2.49Hexaware Technologies Ltd. Software 2.33exide Industries Ltd. Auto Ancillaries 2.20Trent Ltd. Retailing 2.16crompton Greaves consumer electricals Ltd. consumer Durables 1.98SKF India Ltd. Industrial Products 1.95AIA engineering Ltd. Industrial Products 1.91Apollo Tyres Ltd. Auto Ancillaries 1.85Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.82carborundum Universal Ltd. Industrial Products 1.75Max Financial Services Ltd. Finance 1.74The Federal Bank Ltd. Banks 1.69VST Industries Ltd. consumer Non Durables 1.65TI Financial Holdings Ltd. Finance 1.61Whirlpool of India Ltd consumer Durables 1.61Divis Laboratories Ltd. Pharmaceuticals 1.58MRF Ltd. Auto Ancillaries 1.50Atul Ltd. chemicals 1.46Indian Bank Banks 1.45Ipca Laboratories Ltd. Pharmaceuticals 1.41Edelweiss Financial Services Ltd. Finance 1.31Supreme Industries Ltd. Industrial Products 1.28NIIT Technologies Ltd Software 1.27Larsen & Toubro Infotech Ltd. Software 1.25Tube Investments of India Ltd. Auto Ancillaries 1.15KEc International Ltd. construction Project 1.09Union Bank of India Banks 1.04Solar Industries India Ltd. chemicals 0.97Karur Vysya Bank Ltd. Banks 0.96Arvind Fashions Ltd. Retailing 0.95FAG Bearings India Ltd. Industrial Products 0.92KNR construction Ltd.. construction 0.91Power Finance corporation Ltd. Finance 0.90Jagran Prakashan Ltd. Media & entertainment 0.84Reliance Nippon Life Asset Management Ltd. Finance 0.82Navneet education Ltd. Media & entertainment 0.79Rural electrification corporation Ltd. Finance 0.79Blue Star Ltd. consumer Durables 0.78Greenlam Industries Ltd. consumer Durables 0.74Punjab National Bank Banks 0.74Delta corp Ltd. Hotels/Resorts & Other

Recreational Activities 0.68Redington (India) Ltd. Transportation 0.64cummins India Ltd. Industrial Products 0.62Dilip Buildcon Ltd. construction 0.60Symphony Ltd. consumer Durables 0.59Bata India Ltd. consumer Durables 0.55Arvind Ltd. Textile Products 0.52

Company Industry+ / Rating % to NAVGujarat Fluorochemicals Ltd. Industrial capital Goods 0.51Grindwell Norton Ltd. Industrial Products 0.50Vesuvius India Ltd. Industrial Products 0.49Greenply Industries Ltd. consumer Durables 0.48Thermax Ltd. Industrial capital Goods 0.45Oil India Ltd. Oil 0.44Persistent Systems Ltd. Software 0.38Mahindra Holidays & Resorts India Ltd.

Hotels/Resorts & Other Recreational Activities 0.37

Vardhman Textiles Ltd. Textiles - cotton 0.37Strides Pharma Science Ltd. Pharmaceuticals 0.25Dhanuka Agritech Ltd. Pesticides 0.21Anveshan Heavy engineering Ltd. Industrial capital Goods 0.13Aditya Birla Nuvo Ltd. Services @Aurobindo Pharma Ltd. Pharmaceuticals @Sub Total 93.02Preference SharesZee entertainment enterprises Ltd. Media & entertainment 0.01Sub Total 0.01Total 93.03Housing Development Finance corporation Ltd. £ cRISIL - AAA 0.25Sub Total 0.25MONEY MARKET iNSTRUMENTSCD/CPL&T Infrastructure Finance Ltd. cRISIL - A1+ 2.45Steel Authority of India Ltd. cARE - A1+ 1.47Aditya Birla capital ltd. IcRA - A1+ 0.37Sub Total 4.29cash, cash Equivalents and Net current Assets 2.43Grand Total 100.00• Top Ten Holdings, @ Less than 0.01%

PORTFOLIO


0.210.370.440.520.641.091.511.641.65

3.113.723.92

5.236.73

8.148.359.42

10.8211.67

13.85

0 2 4 6 810121416

PesticidesTextiles - Cotton

OilTextile ProductsTransportation

Industrial Capital GoodsConstruction

Media & EntertainmentConsumer Non Durables

RetailingHotels, Resorts & Other Recreational Activities

Construction ProjectSoftware

Consumer DurablesPharmaceuticals

ChemicalsIndustrial Products

FinanceBanks

Auto Ancillaries

KEY FACTS

January 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) 16.92%

Risk Ration Standard Deviation 5.081%n Beta 0.635n Sharpe Ratio* 0.194computed for the 3-yr period ended January 31, 2019. Based on month-end NAV. * Risk free rate: 6.50% (Source: FIMMDA MIBOR)


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








SEgMENT-WiSE BREAK-UP OF EqUiTY HOlDiNg (% OF NET ASSETS)Large cap 4.13%Mid cap 16.78%Small cap 66.59%

§ 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) 1,300.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) 3,320.67 2,812.10 860.03 426.46 112.78 Returns (%) 16.37 16.24 14.37 11.31 -10.93 Benchmark Returns (%) # 9.37 9.26 3.00 -4.48 -26.60 Additional Benchmark Returns (%) ## 11.48 11.40 10.13 10.81 1.57




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year -9.14 -29.72 -0.35 9,086 7,028 9,965Jan 29, 16 Last 3 Years 18.11 7.85 14.20 16,499 12,551 14,910Jan 31, 14 Last 5 Years 20.37 15.12 13.61 25,282 20,229 18,930Apr 03, 08 Since Inception 14.05 6.13 9.16 41,577 19,044 25,848

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• Aurobindo Pharma Ltd. Pharmaceuticals 4.13• NIIT Technologies Ltd. Software 4.00• chambal Fertilizers &

chemicals Ltd. Fertilisers 3.63• Balkrishna Industries Ltd. Auto Ancillaries 2.96• Sonata Software Ltd. Software 2.84• Sharda cropchem Ltd. Pesticides 2.78• Indian Bank Banks 2.58• NRB Bearing Ltd Industrial Products 2.57Firstsource Solutions Ltd Software 2.37SKF India Ltd. Industrial Products 2.20Great eastern Shipping company Ltd. Transportation 2.11Tata Metaliks Ltd. Ferrous Metals 2.10eIH Ltd. Hotels/Resorts & Other

Recreational Activities 2.02Gujarat Fluorochemicals Ltd. Industrial capital Goods 2.02KEc International Ltd. construction Project 1.99Inox Leisure Ltd. Media & entertainment 1.95Repco Home Finance Ltd Finance 1.94Vardhman Textiles Ltd. Textiles - cotton 1.93T. V. Today Network Ltd. Media & entertainment 1.92Finolex Industries Ltd. Industrial Products 1.90Vijaya Bank Banks 1.88Atul Ltd. chemicals 1.77carborundum Universal Ltd. Industrial Products 1.55Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 1.53KeI Industries Ltd. Industrial Products 1.49Kalpataru Power Transmission Ltd. Power 1.43Nilkamal Ltd. Industrial Products 1.38The Federal Bank Ltd. Banks 1.28Power Mech Projects Ltd. construction Project 1.22Tube Investments of India Ltd. Auto Ancillaries 1.20Advanced enzyme Technologies Ltd. consumer Non Durables 1.18Insecticides (India) Ltd. Pesticides 1.05Oriental carbon & chemicals Ltd. chemicals 1.02Orient Refractories Ltd. Industrial Products 1.01Shaily engineering Plastics Ltd. Industrial Products 0.95IFGL Refractories Ltd. (formarly known as IFGL Exports Ltd.) Industrial Products 0.94PNc Infratech Ltd. construction 0.92LG Balakrishnan & Bros Ltd. Auto Ancillaries 0.91Oriental Bank of commerce Banks 0.89eclerx Services Ltd. Software 0.88Mcleod Russel India Ltd. consumer Non Durables 0.80Vesuvius India Ltd. Industrial Products 0.78Redington (India) Ltd. Transportation 0.77Apar Industries Ltd. Industrial capital Goods 0.72Lemon Tree Hotels Ltd. Hotels/Resorts & Other

Recreational Activities 0.70Gabriel India Ltd. Auto Ancillaries 0.64Kirloskar Ferrous Industries Ltd Ferrous Metals 0.64Atul Auto Ltd. Auto 0.60GNA Axles Ltd. Auto Ancillaries 0.57Jagran Prakashan Ltd. Media & entertainment 0.57chalet Hotels Ltd. Hotels/Resorts & Other

Recreational Activities 0.55Greenlam Industries Ltd. consumer Durables 0.55Goodyear India Ltd. Auto Ancillaries 0.46Allahabad Bank Banks 0.45

Company Industry+ % to NAVSadbhav engineering Ltd. construction Project 0.42Taj GVK Hotels & Resorts Ltd. Hotels/Resorts & Other

Recreational Activities 0.41TI Financial Holdings Ltd. Finance 0.40Swaraj engines Ltd. Industrial Products 0.35D B corp Ltd. Media & entertainment 0.33everest Industries Ltd. cement 0.31Unichem Laboratories Ltd. Pharmaceuticals 0.30Merck Ltd Pharmaceuticals 0.29V.S.T Tillers Tractors Ltd. Auto 0.27Banco Products (I) Ltd. Auto Ancillaries 0.22Greenply Industries Ltd. consumer Durables 0.18cG Power and Industrial Solutions Ltd. Industrial capital Goods 0.17Titagarh Wagons Ltd. Industrial capital Goods 0.17Sarla Performance Fibers Ltd. Textiles - Synthetic 0.16Time Technoplast Ltd. Industrial Products 0.16corporation Bank Banks 0.10Amber enterprises India Ltd. consumer Durables 0.03YeS Bank Ltd. Banks @Sub Total 87.49MONEY MARKET iNSTRUMENTSCD/CP• National Bank for Agriculture

& Rural Development IND - A1+ 4.14• Steel Authority of India Ltd. cARE - A1+ 2.43Aditya Birla capital Ltd. IcRA - A1+ 0.41Sub Total 6.98cash margin 0.01cash, cash Equivalents and Net current Assets 5.52Grand Total 100.00• Top Ten Holdings, @ Less than 0.01%

PORTFOLIO


0.160.310.760.870.921.431.931.982.342.742.792.883.083.633.633.834.724.775.21

6.967.18

10.0915.28

0 2 4 6 8 10 12141618Textiles - Synthetic

CementConsumer Durables

AutoConstruction

PowerTextiles - Cotton


Ferrous MetalsChemicals

TransportationIndustrial Capital Goods

Construction ProjectFertilisersPesticides

PharmaceuticalsMedia & Entertainment

Hotels, Resorts & Other Recreational ActivitiesAuto Ancillaries

BanksSoftware

Industrial Products

KEY FACTS

10 January 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 61.11%Mid cap 35.49%Small cap 2.99%§ 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 (`)#


(`)##

Jan 31, 18 Last 1 Year -8.66 -8.23 2.06 9,134 9,177 10,206Jan 29, 16 Last 3 Years 10.47 14.41 14.86 13,493 14,994 15,171Jan 31, 14 Last 5 Years 9.76 17.94 13.60 15,937 22,827 18,929Feb 18, 94 Since Inception 10.50 N.A. 10.94 120,825 N.A. 133,679

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 8.72• State Bank of India Banks 8.43• NTPc Ltd. Power 7.43• IcIcI Bank Ltd. Banks 7.12• Reliance Industries Ltd. Petroleum Products 5.54• ITc Ltd. consumer Non Durables 5.49• HDFc Bank Ltd. Banks 4.01• GAIL (India) Ltd. Gas 3.65• Bharat Petroleum

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

Recreational Activities 2.62Apollo Tyres Ltd. Auto Ancillaries 2.35Trent Ltd. Retailing 2.11NHPc Ltd. Power 1.95Tata chemicals Ltd. chemicals 1.89Max Financial Services Ltd. Finance 1.82Tata Motors Ltd. DVR Auto 1.79Vedanta Ltd. Non - Ferrous Metals 1.69Tata Global Beverages Ltd. consumer Non Durables 1.67Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.66Prestige estates Projects Ltd. construction 1.66Divis Laboratories Ltd. Pharmaceuticals 1.55castrol India Ltd. Petroleum Products 1.54Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.48Mindtree consulting Ltd Software 1.47Gujarat State Petronet Ltd. Gas 1.44Info edge (India) Ltd. Software 1.43exide Industries Ltd. Auto Ancillaries 1.30Hindustan Petroleum corporation Ltd. Petroleum Products 1.30Oil India Ltd. Oil 1.30canara Bank Banks 1.18Indraprastha Gas Ltd. Gas 1.16Solar Industries India Ltd. chemicals 1.13emami Ltd. consumer Non Durables 0.93Reliance Power Ltd Power 0.88Shriram Transport Finance company Ltd. Finance 0.83cESc Ltd. Power 0.80Power Grid corporation of India Ltd Power 0.77Mahanagar Gas Ltd. Gas 0.69NBcc (India) Ltd. construction 0.62


Reliance Nippon Life Asset Management Ltd. Finance 0.59Union Bank of India Banks 0.49Dilip Buildcon Ltd. construction 0.43Indian Bank Banks 0.43NLc India Ltd. Power 0.40Tata Steel Ltd. Ferrous Metals 0.39Larsen and Toubro Ltd. construction Project 0.16Spencers Retail Ltd. Retailing 0.12cesc Ventures Ltd. Software 0.09V-Guard Industries Ltd. Industrial capital Goods @Sub Total 99.59cash, cash Equivalents and Net current Assets 0.41

Grand Total 100.00

• Top Ten Holdings

PORTFOLIO


0.16

0.39

1.30

1.69

1.79

2.23

2.62

2.71

3.02

3.24

3.65

4.69

6.94

8.09

11.47

11.71

12.23

21.66

0 5 10 15 20 25

Construction Project

Ferrous Metals

Oil

Non - Ferrous Metals

Auto

Retailing

Hotels, Resorts & Other Recreational Activities

Construction

Chemicals

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) 3,000.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) $$ 16,448.76 3,622.24 1,851.24 698.34 391.51 117.36 Returns (%) $$ 11.78 8.76 8.39 6.00 5.52 -4.05 Benchmark Returns (%) # N.A. N.A. 13.60 10.81 7.95 -7.39 Additional Benchmark Returns (%) ## 13.45 12.69 11.82 10.88 12.58 4.42


January 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 January 31, 2019 446.33Average for Month of January, 2019 450.37

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) 1,730.00 1,200.00 600.00 360.00 120.00

Mkt Value As on January 31, 2019 (` ‘000) 4,046.70 2,023.16 696.64 372.92 112.70

Returns (%) 11.00 10.08 5.91 2.30 -11.04

Benchmark Returns (%) # 11.88 11.76 9.73 8.36 -4.58

Additional Benchmark Returns (%) ## 12.20 11.82 10.88 12.58 4.42




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year -15.51 -5.95 2.06 8,449 9,405 10,206

Jan 29, 16 Last 3 Years 9.32 13.80 14.86 13,073 14,753 15,171

Jan 31, 14 Last 5 Years 14.52 15.15 13.60 19,706 20,256 18,929

Sep 17, 04 Since Inception 14.80 14.92 15.53 72,819 73,918 79,730

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 4.80

• Vedanta Ltd. Non - Ferrous Metals 4.29

• NHPc Ltd. Power 4.03

• elecon engineering comapny Ltd. Industrial capital Goods 3.45


Hindustan Petroleum corporation Ltd. Petroleum Products 3.14


Titagarh Wagons Ltd. Industrial capital Goods 2.70


Bharat electronics Ltd. Industrial capital Goods 2.51

KEc International Ltd. construction Project 2.47

Axis Bank Ltd. Banks 2.43


PNc Infratech Ltd. construction 2.17

Gujarat Pipavav Port Ltd. Transportation 2.13

Tata Motors Ltd. DVR Auto 1.68

coal India Ltd. Minerals/Mining 1.46

Transport corporation of India Ltd. Transportation 1.24

Tata Motors Ltd. Auto 0.81


Spencers Retail Ltd. Retailing 0.33

cesc Ventures Ltd. Software 0.25

Sub Total 95.56

DEBT & DEBT RElATED

CREDiT EXPOSURE

Au Small Finance Bank Ltd. IND - AA- 0.90

Sub Total 0.90

cash, cash Equivalents and Net current Assets 3.54

Grand Total 100.00


PORTFOLIO


0.33

1.46

2.17

2.47

2.49

2.97

3.37

4.29

4.80

5.82

6.58

8.66

9.33

15.55

25.27

0 5 10 15 20 25 30

Retailing

Minerals/Mining

Construction


Auto

Gas

Transportation


Ferrous Metals


Petroleum Products

Industrial Capital Goods

Software

Power

Banks

KEY FACTS

12 January 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 6.853%n Beta 1.405n Sharpe Ratio* -0.015computed for the 3-yr period ended January 31, 2019. Based on month-end NAV. * Risk free rate: 6.50% (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) 1,310.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) 1,756.20 1,531.18 575.64 319.93 104.70 Returns (%) 5.23 4.76 -1.63 -7.51 -22.67 Benchmark Returns (%) # 11.82 11.76 9.73 8.36 -4.58 Additional Benchmark Returns (%) ## 11.43 11.40 10.13 10.81 1.57




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year -31.29 -5.95 -0.35 6,871 9,405 9,965Jan 29, 16 Last 3 Years 2.49 13.80 14.20 10,767 14,753 14,910Jan 31, 14 Last 5 Years 12.13 15.15 13.61 17,735 20,256 18,930Mar 10, 08 Since Inception 3.96 9.18 9.04 15,268 26,049 25,697

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 4.83

• JMc Projects (India) Ltd. construction 4.18


• Bharat Petroleum corporation Ltd. Petroleum Products 3.77

• Bank of Baroda Banks 3.74

• Texmaco Rail & engineering Ltd. Industrial capital Goods 3.16

• coal India Ltd. Minerals/Mining 2.87

Hindustan construction company Ltd. construction Project 2.85

centum Electronics Ltd. Industrial capital Goods 2.53

Premier explosives Ltd. chemicals 2.49



Dynamatic Technologies Ltd. Auto Ancillaries 2.07

Astra Microwave Products Ltd. Telecom - equipment & Accessories 2.02





Ashoka Buildcon Ltd. construction Project 1.74


J.Kumar Infraprojects Ltd. construction 1.42

Dilip Buildcon Ltd. construction 1.37

Ircon International Ltd. construction Project 1.16

RITeS Ltd. construction Project 1.16


Gujarat State Petronet Ltd. Gas 1.11

Simplex Infrastructures Ltd. construction 1.10


cG Power and Industrial Solutions Ltd. Industrial capital Goods 1.08

B L Kashyap & Sons Ltd. construction 1.04


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

MeP Infrastructure Developers Ltd. Transportation 0.75


cESc Ventures Ltd. Software 0.60

corporation Bank Banks 0.54

Elecon Engineering comapny Ltd. Industrial capital Goods 0.39

Oriental Bank of commerce Banks 0.29

Transformers & Rectifiers India Ltd. Industrial capital Goods 0.27

Grasim Industries Ltd. cement @

Sub Total 96.84


Grand Total 100.00

• Top Ten Holdings, @ Less than 0.01%

PORTFOLIO


0.60

0.73

1.11

1.68

1.91

2.02

2.07

2.49

2.72

2.87

3.77

4.29

8.80

9.11

10.48

15.95

26.24

0 5 10 15 20 25 30

Software

Retailing

Gas

Ferrous Metals


Telecom - Equipment & Accessories

Auto Ancillaries

Chemicals

Transportation

Minerals/Mining

Petroleum Products

Finance

Power

Construction

Industrial Capital Goods


Banks

KEY FACTS

January 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 15.55%Average Maturity * 3.02 yearsMacaulay Duration * 2.66 yearsModified Duration * 2.43 yearsYield to Maturity * 9.39%

* 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 January 31, 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 3.46










HDFc Bank Ltd. Banks 1.59








chambal Fertilizers & chemicals Ltd. Fertilisers 0.91


Solar Industries India Ltd. chemicals 0.84

Just Dial Ltd. Software 0.72


NHPc Ltd. Power 0.54


Apollo Tyres Ltd. Auto Ancillaries 0.48



ABB India Ltd. Industrial capital Goods 0.37

Apar Industries Ltd. Industrial capital Goods 0.37

Ashoka Buildcon Ltd. construction Project 0.37

container corporation of India Ltd. Transportation 0.37

Savita Oil Technologies Ltd. Petroleum Products 0.34


Mishra Dhatu Nigam Ltd. Ferrous Metals 0.30


Time Technoplast Ltd. Industrial Products 0.24

Union Bank of India Banks 0.24

Vijaya Bank Banks 0.21

Matrimony.com Ltd. Services 0.20

Orient cement Ltd. cement 0.20

Steel Authority of India Ltd. Ferrous Metals 0.19

cochin Shipyard Ltd. Industrial capital Goods 0.18

JMc Projects (India) Ltd. construction 0.16

Oriental Bank of commerce Banks 0.16

RITeS Ltd. construction Project 0.15

Kirloskar Pneumatic Ltd. Industrial Products 0.14

S chand and company Ltd. Media & entertainment 0.14



Future Supply chain Solutions Ltd. Transportation 0.13

Gujarat Industries Power compay Ltd. Power 0.13

Reliance Nippon Life Asset Management Ltd. Finance 0.12



Garden Reach Shipbuilders & engineers Ltd. Aerospace & Defence 0.09

Sagar cements Ltd. cement 0.09

Texmaco Rail & engineering Ltd. Industrial capital Goods 0.09






Syndicate Bank Banks 0.06

centum Electronics Ltd. Industrial capital Goods 0.05

cESc Ventures Ltd. Software 0.05

Ramco Systems Ltd. Software 0.05

Allahabad Bank Banks 0.02

Avenue Supermarts Ltd. Retailing @

Sub Total 82.89

DEBT & DEBT RElATED

CREDiT EXPOSURE

• State Bank of India cARE - AA+ / cRISIL - AA+ 4.70

PORTFOLIOKEY FACTS

14 January 2019


SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 3,000.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) $$ 56,006.89 6,163.00 2,385.27 758.87 403.89 120.80 Returns (%) $$ 19.31 14.99 13.17 9.32 7.61 1.24 Benchmark Returns (%) # N.A. 11.06 10.37 9.33 9.32 4.25 Additional Benchmark Returns (%) ## N.A. 12.29 11.40 10.13 10.81 1.57



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`) $$

Benchmark (`)#


(`)##Jan 31, 18 Last 1 Year -5.25 2.18 -0.35 9,475 10,218 9,965Jan 29, 16 Last 3 Years 13.09 12.00 14.20 14,476 14,063 14,910Jan 31, 14 Last 5 Years 16.23 12.11 13.61 21,221 17,716 18,930Feb 01, 94 Since Inception 18.46 N.A. N.A. 692,879 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 82.89

n credit Exposure 15.78

n Mutual Fund Units 0.03

n cash, cash Equivalents and Net current Assets 1.33

Portfolio Classification By Rating Class (%)

n equity 82.89n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent 3.47n AA+ 8.36n AA/AA- 2.45n A+ & Below 1.50n Mutual Fund Units 0.03n cash, cash Equivalents and Net

current Assets 1.30

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


• Tata Sons Ltd. cRISIL - AAA 3.47

HDFc Bank Ltd. cARE - AA+ 1.82

canara Bank cRISIL - AA 1.70

IcIcI Bank Ltd. IcRA - AA+ 1.23

Punjab National Bank cARE - A+ 1.11

Union Bank of India cARE - AA- 0.75

Axis Bank Ltd. cRISIL - AA+ 0.61

Syndicate Bank cARE - A+ 0.34

Andhra Bank cARE - A+ 0.05

Sub Total 15.78


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)

0.060.090.140.200.220.290.380.610.911.021.081.972.082.082.282.352.712.734.20

6.647.268.01

10.9424.64

0 5 10 15 20 25 30Retailing

Aerospace & DefenceMedia & Entertainment

ServicesConstruction

CementIndustrial Products

Auto AncillariesFertilisers

Non - Ferrous MetalsTransportation

ChemicalsGas

Industrial Capital GoodsFerrous Metals

Minerals/MiningPharmaceuticals


Petroleum ProductsConstruction Project

PowerSoftware

Banks

January 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 4.08




• Aurobindo Pharma Ltd. Pharmaceuticals 2.67


Reliance Industries Ltd. Petroleum Products 2.23

State Bank of India Banks 1.86

Aarti Industries Ltd. chemicals 1.73

SKF India Ltd. Industrial Products 1.44

Indusind Bank Ltd. Banks 1.41

Power Grid corporation of India Ltd Power 1.34


Voltas Ltd. construction Project 1.17




Balkrishna Industries Ltd. Auto Ancillaries 0.98

The Federal Bank Ltd. Banks 0.97


Atul Ltd. chemicals 0.94


Indian Hotels company Ltd. Hotels/Resorts & Other Recreational Activities 0.90


Petronet LNG Ltd. Gas 0.85

TI Financial Holdings Ltd. Finance 0.80

Bharti Airtel Ltd. Telecom - Services 0.71

Hero Motocorp Ltd. Auto 0.70

NIIT Technologies Ltd Software 0.66

Hexaware Technologies Ltd. Software 0.65

Tube Investments of India Ltd. Auto Ancillaries 0.65

YeS Bank Ltd. Banks 0.63

Torrent Pharmaceuticals Ltd. Pharmaceuticals 0.59


Mahindra Holidays & Resorts India Ltd.



Sadbhav engineering Ltd. construction Project 0.48

Edelweiss Financial Services Ltd. Finance 0.47


Vardhman Textiles Ltd. Textiles - cotton 0.42


Tamilnadu Newsprint & Papers Ltd. Paper 0.41

VST Industries Ltd. consumer Non Durables 0.41

Allahabad Bank Banks 0.36

Zensar Technologies Ltd. Software 0.36

Sharda cropchem Ltd. Pesticides 0.34

IPcA Laboratories Ltd. Pharmaceuticals 0.33

carborundum Universal Ltd. Industrial Products 0.29


Redington (India) Ltd. Transportation 0.27


IcIcI Securities Ltd Finance 0.23

Jagran Prakashan Ltd. Media & entertainment 0.23

Kaveri Seed company Ltd. consumer Non Durables 0.18

Navneet education Ltd. Media & entertainment 0.15

Rallis India Ltd. Pesticides 0.15

MM Forgings Ltd. Industrial Products 0.14

Persistent Systems Ltd. Software 0.12

Greenply Industries Ltd. consumer Durables 0.11

IFB Industries Ltd. consumer Durables 0.10

Atul Auto Ltd. Auto 0.08

Insecticides (India) Ltd. Pesticides 0.05


Sub Total 68.43

DEBT & DEBT RElATED

gOVERNMENT SECURiTiES (CENTRAl/STATE)

7.16 GOI 2023 Sovereign 1.47


















SUB TOTAL 8.06

CREDiT EXPOSURE

• Tata Sons Ltd. cRISIL - AAA 4.44

(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) 7.99%Average Maturity * 3.11 yearsMacaulay Duration * 2.61 yearsModified Duration * 2.44 yearsYield to Maturity * 8.12%

* 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 48.00%Mid cap 12.27%Small cap 8.16%


16 January 2019


• LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 2.36

Power Finance corporation Ltd cARE - AAA / cRISIL - AAA / IcRA - AAA 2.32

National Bank for Agriculture and Rural Development cRISIL - AAA 1.61


Small Industries Development Bank cARE - AAA 1.39

Housing Development Finance corporation Ltd. £ cRISIL - AAA 1.30

L&T Finance Ltd. cARE - AAA 1.18

ONGc Petro additions Ltd. (OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 0.92

Rural electrification corporation Ltd.

cARE - AAA / cRISIL - AAA / IND - AAA 0.71

Shriram Transport Finance company Ltd. cRISIL - AA+ 0.68

National Highways Authority of India cARE - AAA 0.57


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 21.18

Total 29.24

MUTUAl FUND UNiTS

HDFc Nifty Exchange Traded Fund 0.66

Sub Total 0.66


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) 2,210.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) 11,825.76 6,062.63 2,531.78 767.31 401.09 119.19 Returns (%) 16.08 14.80 14.28 9.77 7.14 -1.25 Benchmark Returns (%) # N.A. 11.06 10.37 9.33 9.32 4.25 Additional Benchmark Returns (%) ## 14.43 12.29 11.40 10.13 10.81 1.57




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year -4.39 2.18 -0.35 9,561 10,218 9,965Jan 29, 16 Last 3 Years 12.33 12.00 14.20 14,186 14,063 14,910Jan 31, 14 Last 5 Years 16.40 12.11 13.61 21,375 17,716 18,930Sep 11, 00 Since Inception 15.70 N.A. 13.09 146,395 N.A. 96,209

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 68.43

G-Sec 8.06

credit Exposure 21.18

Mutual Fund Units 0.66cash, cash Equivalents and Net current Assets 1.67

PORTFOliO ClASSiFiCATiON BY RATiNg ClASS (%)

n equity 68.43n Sovereign 8.06n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent17.51

n AA+ 2.82n AA/AA- 0.05n A+ & Below 0.80n Mutual Fund Units 0.66n cash, cash Equivalents and Net

current Assets1.67

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


0.210.270.380.410.420.480.710.850.951.061.071.101.461.601.631.871.882.673.593.773.82

5.585.66

7.2619.73

0 5 10 15 20 25Consumer Durables

TransportationMedia & Entertainment

PaperTextiles - Cotton

ConstructionTelecom - Services

GasNon - Ferrous Metals

Industrial Capital GoodsAuto

Ferrous MetalsHotels, Resorts & Other Recreational Activities

PowerAuto Ancillaries

Industrial ProductsPesticidesChemicals

PharmaceuticalsPetroleum Products


Construction ProjectSoftware

Banks

January 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 110.36%



#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) 1,620.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) 2,971.75 1,820.71 690.58 380.01 118.71 Returns (%) 8.53 8.08 5.56 3.54 -1.98 Benchmark Returns (%) # N.A. N.A. 9.09 9.16 5.43 Additional Benchmark Returns (%) ## 11.15 11.40 10.13 10.81 1.57




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year -1.93 3.00 -0.35 9,807 10,300 9,965Jan 29, 16 Last 3 Years 6.48 11.65 14.20 12,077 13,929 14,910Jan 31, 14 Last 5 Years 8.67 11.37 13.61 15,161 17,137 18,930Aug 17, 05 Since Inception 8.69 N.A. 13.21 30,728 N.A. 53,185

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 75.61

n Gold 9.60



n equity 75.61n Gold 9.60n cash, cash Equivalents and Net

current Assets 14.79

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


0.350.350.410.460.770.781.011.491.741.77

2.763.103.564.244.634.755.04

6.9012.03

15.93

0 2 4 6 8 1012141618


PowerMedia & Entertainment

Telecom - ServicesConsumer Durables


Industrial Capital GoodsPharmaceuticals

AutoConsumer Non Durables

Auto AncillariesFinance

Industrial ProductsConstruction Project

ChemicalsPetroleum Products

SoftwareBanks

KEY FACTS

18 January 2019

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

% exposure of Derivative


• HDFc Bank Ltd. Banks 7.56 0.00

• Reliance Industries Ltd. Petroleum Products 4.04 0.00

• Infosys Ltd. Software 3.96 0.00

• IcIcI Bank Ltd. Banks 3.48 0.00

• Larsen and Toubro Ltd. construction Project 3.27 0.00

• Housing Development Finance corporation Ltd. £ Finance 3.07 0.00

• NIIT Technologies Ltd Software 2.99 0.00

• Oriental carbon & chemicals Ltd. chemicals 2.86 0.00

• State Bank of India Banks 2.64 0.00

ITc Ltd. consumer Non Durables 2.27 0.00

Aarti Industries Ltd. chemicals 2.18 0.00

Ashok Leyland Ltd Auto 1.99 1.99

Tata consultancy Services Ltd. Software 1.91 0.00

Shaily engineering Plastics Ltd. Industrial Products 1.88 0.00

Sonata Software Ltd. Software 1.85 0.00

Reliance Infrastructure Ltd. Power 1.55 1.55

Gabriel India Ltd. Auto Ancillaries 1.53 0.00

Sharda cropchem Ltd. Pesticides 1.49 0.00

KEc International Ltd. construction Project 1.48 0.00

Firstsource Solutions Ltd Software 1.32 0.00

Tata Motors Ltd. DVR Auto 1.26 0.00

Bharat Petroleum corporation Ltd. Petroleum Products 1.25 0.00

Axis Bank Ltd. Banks 1.19 0.00

carborundum Universal Ltd. Industrial Products 1.19 0.00

Rural Electrification corporation Ltd. Finance 1.17 0.00

Gujarat Fluorochemicals Ltd. Industrial capital Goods 1.16 0.00

Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.10 0.00

Redington (India) Ltd. Transportation 1.01 0.00

Hindustan Petroleum corporation Ltd. Petroleum Products 0.95 0.00

Balkrishna Industries Ltd. Auto Ancillaries 0.87 0.00

Tata Motors Ltd. Auto 0.85 0.00



Timken India Ltd. Industrial Products 0.84 0.00

VST Industries Ltd. consumer Non Durables 0.83 0.00

Greenply Industries Ltd. consumer Durables 0.78 0.00

Bharti Airtel Ltd. Telecom - Services 0.77 0.00

Indusind Bank Ltd. Banks 0.73 0.00

Vesuvius India Ltd. Industrial Products 0.72 0.00

Ipca Laboratories Ltd. Pharmaceuticals 0.67 0.00

Savita Oil Technologies Ltd. Petroleum Products 0.66 0.00

Hero Motocorp Ltd. Auto 0.65 0.00

Banco Products (I) Ltd. Auto Ancillaries 0.63 0.00

Apar Industries Ltd. Industrial capital Goods 0.58 0.00

Suprajit engineering Ltd. Auto Ancillaries 0.53 0.00

Jagran Prakashan Ltd. Media & entertainment 0.46 0.00

Power Grid corporation of India Ltd Power 0.41 0.00

Tata Steel Ltd. Ferrous Metals 0.35 0.00

Vedanta Ltd. Non - Ferrous Metals 0.35 0.00

Union Bank of India Banks 0.33 0.00

Sub Total 75.61

DEBT & DEBT RElATED

gOlD

• Gold Bar 1 Kg (0.995 purity) NA - NA 9.60

Sub Total 9.60

MUTUAl FUND UNiTS

HDFc Gold Exchange Traded Fund 2.22

Sub Total 2.22

Short Term Deposits as margin for Futures & Options 2.69

cash margin 0.32


Grand Total 100.00


Outstanding exposure in derivative instruments (` in crore) 5.30

Hedged position in Equity & Equity related instruments

Outstanding derivative exposure (% age) 3.56


(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

January 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 JANUARY 31, 2019) NAV PER UNIT (`)Growth Option 1,123.28

ASSETS UNDER MANAgEMENT j (`) iN CROREAs on January 31, 2019 260.14Average for Month of January, 2019 251.51


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

TOTAL ExPENSE RATIO (As on January 31, 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 January 31, 2019 unless otherwise specified.

PERFORMANCE *^


(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year -0.36 -0.35 2.06 9,964 9,965 10,206

Jan 29, 16 Last 3 Years 14.10 14.20 14.86 14,870 14,910 15,171

Dec 09, 15 Since Inception 13.15 13.31 13.93 14,756 14,818 15,075

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. 143.63 crores

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









• Tata consultancy Services Ltd. Software 4.88

• Kotak Mahindra Bank Ltd. Banks 3.87



Hindustan Unilever Ltd. consumer Non Durables 2.91


Maruti Suzuki India Ltd. Auto 2.04


Asian Paints Ltd. consumer Non Durables 1.47

Mahindra & Mahindra Ltd. Auto 1.46

Bajaj Finance Ltd. Finance 1.41

HcL Technologies Ltd. Software 1.29

NTPc Ltd. Power 1.09

Sun Pharmaceutical Industries Ltd. Pharmaceuticals 1.08

Tech Mahindra Ltd. Software 1.06

Oil & Natural Gas corporation Ltd. Oil 1.00


Titan company Ltd. consumer Durables 0.96

Wipro Ltd. Software 0.96



Bajaj Finserv Ltd. Finance 0.85

UltraTech cement Ltd. cement 0.85




Bajaj Auto Ltd. Auto 0.80


Indian Oil corporation Ltd. Petroleum Products 0.77

Dr Reddys Laboratories Ltd. Pharmaceuticals 0.76



Hindalco Industries Ltd Non - Ferrous Metals 0.70



Grasim Industries Ltd. cement 0.66


JSW Steel Ltd Ferrous Metals 0.64

Adani Ports & Special economic Zone Transportation 0.62


eicher Motors Ltd. Auto 0.61

Bharti Infratel Ltd. Telecom - equipment & Accessories 0.57

Indiabulls Housing Finance Ltd. Finance 0.51

Zee entertainment enterprises Ltd Media & entertainment 0.49


Sub Total 99.98


Grand Total 100.00


PORTFOLIO


0.490.570.620.670.690.870.930.961.001.471.511.552.092.453.74

6.459.8910.0811.50

14.7627.69

0 5 10 15 20 25 30

Media & EntertainmentTelecom - Equipment & Accessories


GasMinerals/Mining

Telecom - ServicesConsumer Durables

OilFerrous Metals

CementNon - Ferrous Metals

PowerPharmaceuticals

Construction ProjectAuto


Petroleum ProductsSoftware

Banks

KEY FACTS

20 January 2019


EqUiTY & EqUiTY RElATED• HDFc Bank Ltd. Banks 10.38• Reliance Industries Ltd. Petroleum Products 9.76• Housing Development

Finance corporation Ltd. £ Finance 7.36• Infosys Ltd. Software 6.62• ITc Ltd. consumer Non Durables 5.55• IcIcI Bank Ltd. Banks 5.45• Tata consultancy Services Ltd. Software 4.92• Kotak Mahindra Bank Ltd. Banks 3.90• Larsen and Toubro Ltd. construction Project 3.77• Axis Bank Ltd. Banks 2.98Hindustan Unilever Ltd. consumer Non Durables 2.93State Bank of India Banks 2.56Maruti Suzuki India Ltd. Auto 2.05Indusind Bank Ltd. Banks 1.79Asian Paints Ltd. consumer Non Durables 1.48Mahindra & Mahindra Ltd. Auto 1.47Bajaj Finance Ltd. Finance 1.42HcL Technologies Ltd. Software 1.30NTPc Ltd. Power 1.10Sun Pharmaceutical Industries Ltd. Pharmaceuticals 1.09Tech Mahindra Ltd. Software 1.07Oil & Natural Gas corporation Ltd. Oil 1.01Power Grid corporation of India Ltd Power 1.01Titan company Ltd. consumer Durables 0.97Wipro Ltd. Software 0.97Bharti Airtel Ltd. Telecom - Services 0.94coal India Ltd. Minerals/Mining 0.87Bajaj Finserv Ltd Finance 0.86UltraTech cement Ltd. cement 0.85Vedanta Ltd. Non - Ferrous Metals 0.85Tata Steel Ltd. Ferrous Metals 0.84YeS Bank Ltd. Banks 0.83Bajaj Auto Ltd. Auto 0.81Hero Motocorp Ltd. Auto 0.79Dr Reddys Laboratories Ltd. Pharmaceuticals 0.77Indian Oil corporation Ltd. Petroleum Products 0.77Tata Motors Ltd. Auto 0.77Hindalco Industries Ltd Non - Ferrous Metals 0.71GAIL (India) Ltd. Gas 0.70


UPL Ltd. Pesticides 0.67Grasim Industries Ltd. cement 0.66JSW Steel Ltd Ferrous Metals 0.65Bharat Petroleum corporation Ltd. Petroleum Products 0.64Adani Ports & Special economic Zone Transportation 0.62cipla Ltd. Pharmaceuticals 0.61eicher Motors Ltd. Auto 0.61Bharti Infratel Ltd. Telecom - equipment

& Accessories 0.58Indiabulls Housing Finance Ltd. Finance 0.51Zee entertainment enterprises Ltd Media & entertainment 0.49Hindustan Petroleum corporation Ltd. Petroleum Products 0.41Sub Total 100.72cash, cash Equivalents and Net current Assets -0.72Grand 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 98.1162Direct Plan - Growth Option 99.1384



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) 1,990.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) 5,866.71 4,231.07 2,085.36 765.22 420.34 120.77 Returns (%) 11.93 10.61 10.65 9.66 10.32 1.18 Benchmark Returns (%) # 13.96 12.29 11.40 10.13 10.81 1.57 Additional Benchmark Returns (%) ## 14.50 12.69 11.82 10.88 12.58 4.42




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year -0.63 -0.35 2.06 9,937 9,965 10,206Jan 29, 16 Last 3 Years 13.64 14.20 14.86 14,690 14,910 15,171Jan 31, 14 Last 5 Years 13.09 13.61 13.60 18,507 18,930 18,929Jul 17, 02 Since Inception 14.57 16.90 17.57 95,019 132,572 145,692

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


0.490.580.620.670.700.870.940.971.011.491.511.562.112.473.77

6.509.9610.1511.58

14.8827.89

0 5 10 15 20 25 30Media & Entertainment

Telecom - Equipment & AccessoriesTransportation

PesticidesGas

Minerals/MiningTelecom - Services

Consumer DurablesOil

Ferrous MetalsCement

Non - Ferrous MetalsPower

PharmaceuticalsConstruction Project

AutoConsumer Non Durables

FinancePetroleum Products

SoftwareBanks

KEY FACTS

January 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 JANUARY 31, 2019) NAV PER UNIT (`)Growth Option 3,775.36

ASSETS UNDER MANAgEMENT j (`) iN CROREAs on January 31, 2019 75.45Average for Month of January, 2019 75.01


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

TOTAL ExPENSE RATIO (As on January 31, 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 January 31, 2019 unless otherwise specified.

PERFORMANCE *^


(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year 2.01 2.06 -0.35 10,201 10,206 9,965

Jan 29, 16 Last 3 Years 14.95 14.86 14.20 15,207 15,171 14,910


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. 28.34 crores

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



































Sub Total 99.96


Grand Total 100.00


PORTFOLIO


0.83

0.99

1.00

1.09

1.10

1.25

2.37

4.35

7.00

10.62

10.76

11.60

15.01

31.99

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 January 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 320.2056Direct Plan - Growth Option 323.9026



qUANTiTATiVE DATA


TRACKiNg ERROR

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



#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) 1,990.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) 6,083.38 4,364.15 2,131.19 780.02 431.07 122.50 Returns (%) 12.30 10.98 11.06 10.43 12.05 3.87 Benchmark Returns (%) # 14.50 12.69 11.82 10.88 12.58 4.42 Additional Benchmark Returns (%) ## 13.96 12.29 11.40 10.13 10.81 1.57




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year 1.60 2.06 -0.35 10,160 10,206 9,965Jan 29, 16 Last 3 Years 14.40 14.86 14.20 14,989 15,171 14,910Jan 31, 14 Last 5 Years 13.05 13.60 13.61 18,473 18,929 18,930Jul 17, 02 Since Inception 14.89 17.57 16.90 99,563 145,692 132,572

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 100.08

cash, cash Equivalents and Net current Assets -0.08

Grand Total 100.00


PORTFOLIO


0.84

0.99

1.00

1.09

1.10

1.25

2.37

4.35

7.01

10.63

10.78

11.61

15.03

32.03

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

January 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) 2,740.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) $$ 62,646.59 5,560.42 2,218.07 723.16 390.78 115.86 Returns (%) $$ 22.69 13.80 11.81 7.40 5.40 -6.31 Benchmark Returns (%) # 14.86 12.34 11.76 9.73 8.36 -4.58 Additional Benchmark Returns (%) ## 13.71 12.29 11.40 10.13 10.81 1.57



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 investedScheme (`)

$$Benchmark

(`)#Additional

Benchmark (`)##

Jan 31, 18 Last 1 Year -11.67 -5.95 -0.35 8,833 9,405 9,965Jan 29, 16 Last 3 Years 12.76 13.80 14.20 14,350 14,753 14,910Jan 31, 14 Last 5 Years 14.93 15.15 13.61 20,064 20,256 18,930Mar 31, 96 Since Inception 23.51 13.67 12.38 1,245,881 186,987 144,034

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 5.17


• Vedanta Ltd. Non - Ferrous Metals 3.46




Oracle Financial Services Software Ltd. Software 2.29





L&T Technology Services Ltd. Software 1.16


Solar Industries India Ltd. chemicals 1.08







eclerx Services Ltd. Software 0.70


Max Financial Services Ltd. Finance 0.57

Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.49

Persistent Systems Ltd. Software 0.42




ITD cementation India Ltd. construction 0.34


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


HSIL Ltd. consumer Durables 0.26


MPS Ltd. consumer Non Durables 0.06

Siti Networks Ltd. Media & entertainment 0.04

Nestle India Ltd. consumer Non Durables @

Sub Total 97.42cash, cash Equivalents and Net current Assets 2.58

Grand Total 100.00


PORTFOLIO


0.040.200.260.340.570.730.901.081.921.942.703.464.664.825.17

6.9310.00

11.2713.67

26.76

0 5 10 15 20 25 30

Media & EntertainmentAuto Ancillaries

Consumer DurablesConstruction

FinanceMinerals/Mining

TransportationChemicals

AutoIndustrial Capital Goods


Consumer Non DurablesPharmaceuticals

GasConstruction ProjectPetroleum Products

PowerSoftware

Banks

KEY FACTS

24 January 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 115.605Direct Plan 121.443



qUANTiTATiVE DATA

Portfolio Turnover Ratio (Last 1 year) 8.47%Average Maturity * 2.58 yearsMacaulay Duration * 2.04 yearsModified Duration * 1.91 yearsYield to Maturity * 8.17%* 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








• Bajaj Finance Ltd. Finance 2.05

Britannia Industries Ltd. consumer Non Durables 2.04

NIIT Technologies Ltd. Software 2.00



Housing Development Finance corporation Ltd. £ Finance 1.84





Motherson Sumi Systems Ltd. Auto Ancillaries 1.17

FAG Bearings India Ltd. Industrial Products 1.16

cholamandalam Investment & Finance Finance 1.15



FINOLEx INDUSTRIES LTD. Industrial Products 1.07


AIA engineering Ltd. Industrial Products 0.99


Larsen & Toubro Infotech Ltd. Software 0.93

century Plyboards (India) Ltd. consumer Durables 0.84


eIH Ltd. Hotels/Resorts & Other Recreational Activities 0.81


Supreme Industries Ltd. Industrial Products 0.79

Sonata Software Ltd. Software 0.78

Mahindra Holidays & Resorts India Ltd









VST INDUSTRIeS LTD. Hotels/Resorts & Other Recreational Activities 0.66

Indian Bank Banks 0.63

Ipca Laboratories Ltd. Pharmaceuticals 0.62

Swaraj engines Ltd. Industrial Products 0.62


Vesuvius India Ltd. Industrial Products 0.58

Navneet education Ltd. Media & entertainment 0.49


Blue Star Ltd. consumer Durables 0.46

V.S.T Tillers Tractors Ltd. Auto 0.41

Apollo Tyres Ltd. Auto Ancillaries 0.34

eclerx Services Ltd. Software 0.32

Mcleod Russel India Ltd. consumer Non Durables 0.32



Nilkamal Ltd. Industrial Products 0.31



crompton Greaves consumer electricals Ltd. consumer Durables 0.17

Jyoti Structures Ltd. Power 0.01

Sub Total 65.98

DEBT & DEBT RElATED









PORTFOLIOKEY FACTS

January 2019 25


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

Total Amount Invested (` ‘000) 2,150.00 1,800.00 1,200.00 600.00 360.00 120.00

Mkt Value As on January 31, 2019 (` ‘000) $ 10,541.32 6,019.40 2,601.89 775.21 408.90 119.71

Returns (%) $ 15.76 14.72 14.79 10.18 8.44 -0.45

Benchmark Returns (%) # N.A. 11.06 10.37 9.33 9.32 4.25

Additional Benchmark Returns (%) ## 14.48 12.29 11.40 10.13 10.81 1.57

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(`)##

Jan 31, 18 Last 1 Year -2.65 2.18 -0.35 9,735 10,218 9,965

Jan 29, 16 Last 3 Years 12.86 12.00 14.20 14,392 14,063 14,910

Jan 31, 14 Last 5 Years 15.33 12.11 13.61 20,414 17,716 18,930

Mar 02, 01 Since Inception 16.32 N.A. 14.15 150,287 N.A. 107,233

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 65.98

G-Sec 7.64

credit Exposure 21.60cash, cash Equivalents and Net current Assets 4.78



l capital appreciation over long term.

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

Riskometer




equity 65.98Sovereign 7.64

AAA/AAA(SO)/A1+/A1+(SO) & equivalent 16.14AA+ 5.46cash, cash Equivalents and Net current Assets 4.78

[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 7.64

CREDiT EXPOSURE

• Tata capital Financial Services Ltd IcRA - AAA 4.56

• Power Finance corporation Ltd cARE - AAA / cRISIL - AAA 3.98

• L&T Finance Ltd. cARE - AAA 3.97

• Axis Bank Ltd. cRISIL - AA+ 3.85


M&M Financial Services Ltd. IND - AAA 1.59

Tata Sons Ltd. cRISIL - AAA 1.44

Hero Fincorp Ltd. IcRA - AA+ 1.18

HDB Financial Services Ltd. cRISIL - AAA 0.60

State Bank of India cRISIL - AA+ 0.43

Sub Total 21.60

Total 29.24


Grand Total 100.00



0.58

0.69

0.72

0.72

0.73

0.76

0.94

1.26

1.78

2.24

3.02

3.13

3.27

4.23

4.60

5.76

7.37

9.88

14.30

0 2 4 6 8 10 12 14 16

Construction

Ferrous Metals

Auto

Power


Media & Entertainment

-Services

Pesticides

Consumer Durables

Hotels, Resorts & Other Recreational Activities


Auto Ancillaries

Pharmaceuticals


Petroleum Products

Finance

Industrial Products

Software

Banks

26 January 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 (`)#


(`)##

Jan 31, 18 Last 1 Year -7.51 -5.95 -0.35 9,249 9,405 9,965Feb 25, 16 Since Inception 17.92 17.54 17.80 16,221 16,067 16,173

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 2.29




cholamandalam Investment & Finance Finance 1.67










Atul Ltd. chemicals 1.28

Finolex Industries Ltd. Industrial Products 1.21

Sharda cropchem Ltd. Pesticides 1.21


Tata Metaliks Ltd. Ferrous Metals 1.09

Oriental carbon & chemicals Ltd. chemicals 1.08

eIH Ltd. Hotels/Resorts & Other Recreational Activities 1.06

Great eastern Shipping company Ltd. Transportation 1.02

T. V. Today Network Ltd. Media & entertainment 1.02



city Union Bank Ltd. Banks 0.92



Mcleod Russel India Ltd. consumer Non Durables 0.86






GNA Axles Ltd. Auto Ancillaries 0.68

Redington (India) Ltd. Transportation 0.68






IPcA Laboratories Ltd. Pharmaceuticals 0.57

KeI Industries Ltd. Industrial Products 0.56






Timken India Ltd. Industrial Products 0.40

Bajaj electricals Ltd. consumer Durables 0.38



Greenply Industries Ltd. consumer Durables 0.27

Kirloskar Oil Engines Ltd. Industrial Products 0.03

Sub Total 81.90DEBT & DEBT RElATEDgOVERNMENT SECURiTiES (CENTRAl/STATE)• 6.84 GOI 2022 Sovereign 4.15

• 7.59 GOI 2026 Sovereign 2.54

Sub Total 6.69CREDiT EXPOSURE Syndicate Bank cARE - A+ 0.59


Sub Total 1.06Total 7.75cash, cash Equivalents and Net current Assets 10.35

Grand Total 100.00


PORTFOLIO


0.520.630.860.860.931.311.701.701.711.892.082.532.563.213.924.655.625.906.116.68

8.0218.51

0 2 4 6 8101214161820PaperAuto

Consumer Non DurablesNon - Ferrous Metals

Industrial Capital GoodsMedia & Entertainment

FertilisersTransportationFerrous Metals

PowerConsumer Durables

PesticidesAuto AncillariesPharmaceuticals

Hotels, Resorts & Other Recreational ActivitiesChemicals

Industrial ProductsConstruction ProjectPetroleum Products

FinanceSoftware

Banks

KEY FACTS

January 2019 27




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 (`)#


(`)##

Jan 31, 18 Last 1 Year -1.49 2.18 -0.35 9,851 10,218 9,965Feb 25, 16 Since Inception 17.37 14.46 17.80 16,001 14,864 16,173

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



Portfolio Classification by Asset Class (%)

n equity 65.35

n G-Sec 9.05



Portfolio Classification by Rating Class (%)

n equity 65.35n Sovereign 9.05n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent 5.49n AA+ 3.69n A+ & BELOw 1.56n cash, cash Equivalents and Net

current Assets 14.86

[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 5.50• Reliance Industries Ltd. Petroleum Products 4.54• Housing Development

Finance corporation Ltd. £ Finance 3.98• IcIcI Bank Ltd. Banks 3.70• Infosys Ltd. Software 3.08• Merck Ltd Pharmaceuticals 2.69• Larsen and Toubro Ltd. construction Project 2.61NIIT Technologies Ltd Software 2.20Aarti Industries Ltd. chemicals 2.11Aurobindo Pharma Ltd. Pharmaceuticals 2.08Axis Bank Ltd. Banks 1.78Sundram Fasteners Ltd. Auto Ancillaries 1.56chambal Fertilizers & chemicals Ltd. Fertilisers 1.47Sonata Software Ltd. Software 1.30State Bank of India Banks 1.28UPL Ltd. Pesticides 1.21Oriental carbon & chemicals Ltd. chemicals 1.13cholamandalam Investment & Finance Finance 1.08NRB Bearing Ltd Industrial Products 1.08Power Grid corporation of India Ltd Power 1.08Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 1.06carborundum Universal Ltd. Industrial Products 1.00Zensar Technologies Ltd. Software 0.98KEc International Ltd. construction Project 0.97crompton Greaves consumer electricals Ltd consumer Durables 0.94Shaily engineering Plastics Ltd. Industrial Products 0.94Balkrishna Industries Ltd. Auto Ancillaries 0.84Kalpataru Power Transmission Ltd. Power 0.82Nilkamal Ltd. Industrial Products 0.82Blue Star Ltd. consumer Durables 0.80Mahindra Holidays & Resorts India Ltd


Voltas Ltd. construction Project 0.68TI Financial Holdings Ltd. Finance 0.65SKF India Ltd. Industrial Products 0.63Tata Steel Ltd. Ferrous Metals 0.63Hindustan Petroleum corporation Ltd. Petroleum Products 0.62Shree Pushkar chemicals & Fertilisers Ltd. chemicals 0.62Bajaj electricals Ltd. consumer Durables 0.61Vedanta Ltd. Non - Ferrous Metals 0.61Apar Industries Ltd. Industrial capital Goods 0.55Indusind Bank Ltd. Banks 0.53Tube Investments of India Ltd. Auto Ancillaries 0.50Tata Motors Ltd. DVR Auto 0.49YeS Bank Ltd. Banks 0.48Vesuvius India Ltd. Industrial Products 0.45Bank of Baroda Banks 0.39


Tamilnadu Newsprint & Papers Ltd. Paper 0.37Redington (India) Ltd. Transportation 0.27Jagran Prakashan Ltd. Media & entertainment 0.25Sadbhav engineering Ltd. construction Project 0.25Greenply Industries Ltd. consumer Durables 0.22Kirloskar Oil Engines Ltd. Industrial Products 0.19Sub Total 65.35DEBT & DEBT RElATEDgOVERNMENT SECURiTiES (CENTRAl/STATE)• 6.84 GOI 2022 Sovereign 4.366.35 GOI 2020 Sovereign 2.207.68 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 4.38

• State Bank of India cRISIL - AA+ 3.69Syndicate Bank cARE - A+ 1.56Reliance Jio Infocomm Ltd. cRISIL - AAA 1.11Sub Total 10.74Total 19.79cash, cash Equivalents and Net current Assets 14.86Grand Total 100.00• Top Ten Holdings, £ co-sponsor

PORTFOLIO


0.250.270.370.490.550.610.631.211.471.791.902.572.90

3.864.514.775.115.165.71

7.5613.66

0 2 4 6 8 10121416

Media & EntertainmentTransportation

PaperAuto

Industrial Capital GoodsNon - Ferrous Metals

Ferrous MetalsPesticidesFertilisers

Hotels, Resorts & Other Recreational ActivitiesPower

Consumer DurablesAuto Ancillaries

ChemicalsConstruction Project

PharmaceuticalsIndustrial Products

Petroleum ProductsFinance

SoftwareBanks

KEY FACTS

28 January 2019




FUND MANAgER ¥





February 26, 2016





qUANTiTATiVE DATA

Average Maturity * 2.87 yearsMacaulay Duration * 2.45 yearsModified Duration * 2.31 yearsYield to Maturity * 8.01%* 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 (`)#


(`)##

Jan 31, 18 Last 1 Year 1.09 5.46 7.16 10,109 10,546 10,716Feb 26, 16 Since Inception 8.74 9.36 6.82 12,785 13,000 12,133

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 18.28

n G-Sec 32.43




n equity 18.28n Sovereign 32.43n AAA/AAA(SO)/A1+/A1+(SO)

& equivalent 7.27n AA+ 7.32n AA/AA- 3.10n A+ & Below 11.18n cash, cash Equivalents and

Net current Assets 20.42

[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 0.96

Aarti Industries Ltd. chemicals 0.87

Reliance Industries Ltd. Petroleum Products 0.81


Larsen and Toubro Ltd. construction Project 0.72

Infosys Ltd. Software 0.71


Orient Refractories Ltd. Industrial Products 0.59




Oriental carbon & chemicals Ltd. chemicals 0.49

NRB Bearing Ltd Industrial Products 0.46


Avanti Feeds Ltd. consumer Non Durables 0.44

Vesuvius India Ltd. Industrial Products 0.42


GNA Axles Ltd. Auto Ancillaries 0.40

Time Technoplast Ltd. Industrial Products 0.40

Bajaj electricals Ltd. consumer Durables 0.38











Timken India Ltd. Industrial Products 0.28



Poddar Pigments Ltd. chemicals 0.18





Sub Total 18.28

DEBT & DEBT RElATED


• 7.37 GOI 2023 Sovereign 12.46

• 7.68 GOI 2023 Sovereign 11.74


Sub Total 32.43

CREDiT EXPOSURE

• Starlite Lighting Ltd. (corporate Guarantee of Bajaj electrical Ltd.) IcRA - A+(SO) 7.85

• State Bank of India cRISIL - AA+ 7.32

• Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA 4.10

• Syndicate Bank cARE - A+ 3.33

• Reliance Jio Infocomm Ltd. cRISIL - AAA 3.17

• Union Bank of India cARE - AA- 3.10

Sub Total 28.87

Total 61.30


Grand Total 100.00


PORTFOLIOKEY FACTS

January 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 53.81%Average Maturity * 1.73 yearsMacaulay Duration * 1.55 yearsModified Duration * 1.42 yearsYield to Maturity * 8.63%* 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) 1,730.00 1,200.00 600.00 360.00 120.00 Mkt Value As on January 31, 2019 (` ‘000) 3,507.98 1,925.24 737.29 399.85 121.25 Returns (%) 9.23 9.14 8.17 6.93 1.94 Benchmark Returns (%) # N.A. N.A. 7.62 7.33 5.12 Additional Benchmark Returns (%) ## 11.85 11.40 10.13 10.81 1.57

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 (`)##

Jan 31, 18 Last 1 Year 0.12 4.11 -0.35 10,012 10,411 9,965Jan 29, 16 Last 3 Years 11.17 8.68 14.20 13,751 12,846 14,910Jan 31, 14 Last 5 Years 9.77 9.23 13.61 15,944 15,555 18,930Sep 17, 04 Since Inception 9.22 N.A. 15.02 35,525 N.A. 74,829

^^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 January 31, 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 4.80 0.92• IcIcI Bank Ltd. Banks 4.23 0.67• Housing Development Finance

corporation Ltd. £ Finance 4.11 4.11• Infosys Ltd. Software 3.64 0.08• NTPc Ltd. Power 2.96 0.00• HDFc Bank Ltd. Banks 2.95 0.18• Larsen and Toubro Ltd. construction Project 2.26 0.00State Bank of India Banks 2.23 0.20Tata Steel Ltd. Ferrous Metals 1.79 1.67Aurobindo Pharma Ltd. Pharmaceuticals 1.76 1.22ITc Ltd. consumer Non Durables 1.57 0.12



Vedanta Ltd. Non - Ferrous Metals 1.49 0.00YeS Bank Ltd. Banks 1.45 1.45GAIL (India) Ltd. Gas 1.35 0.00JSW Steel Ltd Ferrous Metals 1.32 1.32Sun Pharmaceutical Industries Ltd. Pharmaceuticals 1.09 1.09Maruti Suzuki India Ltd. Auto 1.04 1.04Tata Motors Ltd. Auto 0.96 0.72Dr Reddys Laboratories Ltd. Pharmaceuticals 0.88 0.88LIc Housing Finance Ltd. Finance 0.83 0.59Mahindra & Mahindra Ltd. Auto 0.80 0.72Shriram Transport Finance company Ltd. Finance 0.76 0.76Hindalco Industries Ltd Non - Ferrous Metals 0.75 0.75Bharti Airtel Ltd. Telecom - Services 0.73 0.56

PORTFOLIO


0.020.040.040.120.130.170.190.230.390.450.480.480.520.580.580.80

1.451.481.49

2.434.174.424.45

8.80

0 1 2 3 4 5 6 7 8 9 10Media & Entertainment

CementRetailing

Ferrous MetalsAuto Ancillaries

Telecom - ServicesPesticides

Minerals/MiningChemicals

TransportationAuto

FinanceConstruction

OilIndustrial Capital Goods

PharmaceuticalsConsumer Non Durables

GasNon - Ferrous MetalsConstruction Project

PowerPetroleum Products

SoftwareBanks

KEY FACTS

30 January 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 January 31, 2019 unless otherwise specified.

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



Power Grid corporation of India Ltd Power 0.66 0.00Titan company Ltd. consumer Durables 0.64 0.64Bajaj Finance Ltd. Finance 0.63 0.63DLF Ltd. construction 0.62 0.62Oil & Natural Gas corporation Ltd. Oil 0.58 0.00Jubilant Foodworks Ltd. consumer Non Durables 0.57 0.57Tech Mahindra Ltd. Software 0.56 0.56Tata consultancy Services Ltd. Software 0.51 0.51Bharat Petroleum corporation Ltd. Petroleum Products 0.40 0.00M&M Financial Services Ltd. Finance 0.40 0.40Tata Global Beverages Ltd. consumer Non Durables 0.40 0.40United Spirits Ltd. consumer Non Durables 0.40 0.40Tata chemicals Ltd. chemicals 0.39 0.00L&T Technology Services Ltd. Software 0.38 0.00escorts Ltd. Auto 0.37 0.37Dabur India Ltd. consumer Non Durables 0.36 0.36Gujarat Pipavav Port Ltd. Transportation 0.35 0.00The Federal Bank Ltd. Banks 0.33 0.33JMc Projects (India) Ltd. construction 0.31 0.00Tata Motors Ltd. DVR Auto 0.31 0.16eclerx Services Ltd. Software 0.29 0.00Multi commodity Exchange of India Ltd. Finance 0.29 0.29Petronet LNG Ltd. Gas 0.29 0.29Strides Pharma Science Ltd. Pharmaceuticals 0.29 0.29UPL Ltd. Pesticides 0.29 0.10cipla Ltd. Pharmaceuticals 0.28 0.02Adani Power (Mundra) Ltd. (Secured by Shares of Adani Port & SeZ Ltd.) Power 0.27 0.27Ashok Leyland Ltd Auto 0.27 0.27Britannia Industries Ltd. consumer Non Durables 0.26 0.26NHPc Ltd. Power 0.26 0.00Havells India Ltd. consumer Durables 0.25 0.25Texmaco Rail & engineering Ltd. Industrial capital Goods 0.25 0.00Axis Bank Ltd. Banks 0.24 0.05cESc Ltd. Power 0.24 0.00Grasim Industries Ltd. cement 0.24 0.24Hindustan Unilever Ltd. consumer Non Durables 0.24 0.24coal India Ltd. Minerals/Mining 0.23 0.00eicher Motors Ltd. Auto 0.22 0.22Raymond Ltd. Textile Products 0.22 0.22Hero Motocorp Ltd. Auto 0.21 0.20Indusind Bank Ltd. Banks 0.21 0.21Zee entertainment enterprises Ltd Media & entertainment 0.21 0.21equitas Holdings Ltd. Finance 0.20 0.20The Tata Power company Ltd. Power 0.20 0.20Bank of Baroda Banks 0.19 0.00Newgen Software Technologies Ltd Software 0.19 0.00century Textiles & Industries Ltd. cement 0.18 0.18ITD cementation India Ltd. construction 0.18 0.00Ncc Ltd. construction Project 0.17 0.17cadila Healthcare Ltd. Pharmaceuticals 0.16 0.16Punjab National Bank Banks 0.16 0.10Power Finance corporation Ltd Finance 0.15 0.00Ambuja cements Ltd. cement 0.14 0.14Godrej consumer Products Ltd. consumer Non Durables 0.14 0.14Hindustan Petroleum corporation Ltd. Petroleum Products 0.14 0.00Mahanagar Gas Ltd. Gas 0.14 0.01Apollo Tyres Ltd. Auto Ancillaries 0.13 0.00Ashoka Buildcon Ltd. construction Project 0.13 0.00Asian Paints Ltd. consumer Non Durables 0.13 0.13IcIcI Prudential Life Insurance company Ltd. Finance 0.13 0.13Jindal Steel & Power Ltd. Ferrous Metals 0.13 0.13Reliance capital Ltd. Finance 0.13 0.13Tata elxsi Ltd. Software 0.13 0.13Titagarh Wagons Ltd. Industrial capital Goods 0.13 0.00HcL Technologies Ltd. Software 0.12 0.12Wockhardt Ltd. Pharmaceuticals 0.11 0.11container corporation of India Ltd. Transportation 0.10 0.00Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.10 0.10Guj State Fertilizers & chemicals Fertilisers 0.10 0.10Bharat Financial Inclusion Ltd. Finance 0.09 0.09Biocon Ltd. Pharmaceuticals 0.09 0.09centum Electronics Ltd. Industrial capital Goods 0.09 0.00IDFc Ltd. Finance 0.09 0.09JAIN Irrigation Systems Ltd. Industrial Products 0.09 0.09Reliance Nippon Life Asset Management Ltd. Finance 0.09 0.00Godrej Industries Ltd. consumer Non Durables 0.08 0.08Max Financial Services Ltd. Finance 0.08 0.08IRB Infrastructure Developers Ltd construction 0.07 0.07Mindtree consulting Ltd Software 0.07 0.07Reliance Power Ltd Power 0.07 0.07



BeML Ltd. Industrial capital Goods 0.06 0.00Lupin Ltd. Pharmaceuticals 0.06 0.06PVR Ltd. Media & entertainment 0.06 0.06Reliance Infrastructure Ltd. Power 0.06 0.06Tata communications Ltd. Telecom - Services 0.06 0.06Bajaj Auto Ltd. Auto 0.05 0.05Balkrishna Industries Ltd. Auto Ancillaries 0.05 0.05Bharat electronics Ltd. Industrial capital Goods 0.05 0.00Hexaware Technologies Ltd. Software 0.05 0.05Kalpataru Power Transmission Ltd. Power 0.05 0.00Nestle India Ltd. consumer Non Durables 0.05 0.05Sun TV Network Ltd. Media & entertainment 0.05 0.05Adani Ports & Special economic Zone Transportation 0.04 0.04IDBI Bank Ltd. Banks 0.04 0.04KEc International Ltd. construction Project 0.04 0.00MRF Ltd. Auto Ancillaries 0.04 0.04Orient cement Ltd. cement 0.04 0.00Spencers Retail Ltd. Retailing 0.04 0.00Ujjivan Financial Services Ltd. Finance 0.04 0.04United Breweries Ltd. consumer Non Durables 0.04 0.04Bosch Ltd. Auto Ancillaries 0.03 0.03cESc Ventures Ltd. Software 0.03 0.00NBcc (India) Ltd. construction 0.03 0.00Acc 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 0.02IFcI Ltd. Finance 0.02 0.02Kotak Mahindra Bank Ltd. Banks 0.02 0.02S chand and company Ltd. Media & entertainment 0.02 0.00Shree cement Ltd. cement 0.02 0.02Siemens Ltd. Industrial capital Goods 0.02 0.02cholamandalam Investment & Finance Finance 0.01 0.01Dish TV India Ltd. Media & entertainment 0.01 0.01Syndicate Bank Banks 0.01 0.01The South Indian Bank Ltd. Banks 0.01 0.01Indraprastha Gas Ltd. Gas @MPS Ltd. consumer Non Durables @Piramal enterprises Ltd. Pharmaceuticals @Sub Total 66.57Preference SharesZee entertainment enterprises Ltd. Media & entertainment @Sub Total @Total 66.57DEBT & DEBT RElATEDgOVERNMENT SECURiTiES (CENTRAl/STATE)7.16 GOI 2023 Sovereign 1.12Sub Total 1.12CREDiT EXPOSURE • Housing Development Finance

corporation Ltd. £ cRISIL - AAA / IcRA - AAA 3.68• Punjab National Bank cARE - A+ 3.12• State Bank of India cARE - AA+ / cRISIL - AA+ 2.53Power Finance corporation Ltd cRISIL - AAA 1.64HDFc Bank Ltd. cARE - AA+ 1.62Syndicate Bank cARE - A+ 1.33M&M Financial Services Ltd. cARE - AAA / IND - AAA 1.19Reliance Jio Infocomm Ltd. cRISIL - AAA / IcRA - AAA 1.18Rural Electrification corporation Ltd. cRISIL - AAA 0.96Union Bank of India cARE - AA- / IND - AA 0.84ONGc Petro additions Ltd. (OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 0.40Axis Bank Ltd. cRISIL - AA+ 0.39canara Bank cRISIL - AA 0.39Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) 0.19Bank of Baroda cARE - AA 0.16LIc Housing Finance Ltd. cRISIL - AAA 0.16Power Grid corporation of India Ltd cRISIL - AAA 0.16JM Financial Asset Reconstruction company Ltd. IcRA - AA- 0.01Sub Total 19.95Total 21.07Short Term Deposits as margin for Futures & Options 10.15 cash, cash Equivalents and Net current Assets 2.21Grand Total 100.00

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

Outstanding exposure in derivative instruments (` in crore) 2,047.83



PORTFOLIO

January 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 44.3946Regular Plan - Monthly Dividend Option 12.9989Regular Plan - Quarterly Dividend Option 13.6927Direct Plan - Growth Option 45.8214Direct Plan - Monthly Dividend Option 13.5473Direct Plan - Quarterly Dividend Option 14.2680



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 January 31, 2019 unless otherwise specified.







Larsen and Toubro Ltd. construction Project 1.44






















Syndicate Bank Banks 0.34


Texmaco Rail & engineering Ltd. Industrial capital Goods 0.26

Union Bank of India Banks 0.26


Mishra Dhatu Nigam Ltd. Ferrous Metals 0.15





Rallis India Ltd. Pesticides @

Tata Motors Ltd. DVR Auto @

Sub Total 25.10

DEBT & DEBT RElATED













8.10% Tamil Nadu SDL - Mat 110325 Sovereign 0.08


Sub Total 14.51

CREDiT EXPOSURE

• Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA / IcRA - AAA 7.80

• Reliance Jio Infocomm Ltd. cRISIL - AAA / IcRA - AAA 4.34

• Rural electrification corporation Ltd.

cARE - AAA / cRISIL - AAA 4.11


• State Bank of India cRISIL - AA+ / cRISIL - AAA 2.53

• Union Bank of India cARE - AA- / IND - AA 2.41

Housing Development Finance corporation Ltd. £ cRISIL - AAA 2.34


Adani Transmission Ltd. IND - AA+ 2.13

TATA International Ltd. cARE - A+ 1.87

Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 1.65

Reliance Industries Ltd. cRISIL - AAA 1.56


canara Bank IcRA - AA 1.53

Tata Realty and Infrastructure Ltd. cRISIL - AA 1.51

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

PORTFOLIOKEY FACTS

32 January 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) 1,820.00 1,800.00 1,200.00 600.00 360.00 120.00

Mkt Value As on January 31, 2019 (` ‘000) 3,997.94 3,910.18 1,895.15 713.78 388.57 122.67

Returns (%) 9.70 9.68 8.84 6.88 5.02 4.14

Benchmark Returns (%) # 8.55 8.57 8.49 7.84 6.93 7.85

Additional Benchmark Returns (%) ## 6.36 6.39 6.55 6.54 5.01 10.93




(%)

Benchmark Returns

(%)#


Returns (%) ##



Additional Benchmark (`)##

Jan 31, 18 Last 1 Year 0.45 5.46 7.16 10,045 10,546 10,716

Jan 29, 16 Last 3 Years 8.55 8.50 6.58 12,800 12,780 12,113

Jan 31, 14 Last 5 Years 10.39 9.61 8.10 16,394 15,827 14,764


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 25.10

n G-Sec, SDL 14.51


ncash, cash Equivalents and Net current Assets 7.30





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



The Tata Power company Ltd. cRISIL - AA- 1.14

Andhra Pradesh expressway Ltd. (NHAI Annuity) IcRA - AAA(SO) 0.99


Power Grid corporation of India Ltd cRISIL - AAA 0.96

Indian Railways Finance corporation Ltd.


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

Kotak Mahindra Bank Ltd. cRISIL - AAA 0.81

Bank of Baroda cARE - AA+ 0.78


Hinduja Leyland Finance Ltd cARE - AA- 0.65


Shriram city Union Finance Ltd. cARE - AA+ 0.38

EcL Finance Ltd. IcRA - A1+ 0.32


export - Import Bank of India cRISIL - AAA 0.32

Hindalco Industries Ltd cRISIL - AA 0.32


Tata Steel Ltd. cARE - AA- 0.16

Daimler Financial Services India Pvt. Ltd. IND - AAA 0.09

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 53.09

Total 67.60


Grand Total 100.00

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

PORTFOLIO

January 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 21.284Regular Plan - Dividend Option 15.809Regular Plan - Quarterly Dividend Option 15.128Direct Plan - Growth Option 21.934Direct Plan - Quarterly Dividend Option 16.620

Wholesale PlanRegular Plan - Growth Option 21.748Regular Plan - Dividend Option 10.394Regular Plan - Monthly Dividend Option 10.809Direct Plan - Growth Option 13.838Direct Plan - Dividend Option 10.756Direct Plan - Monthly Dividend Option 10.479



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

4.77

• YeS Bank Ltd. Banks 3.68


• Hindustan Unilever Ltd. consumer Non Durables 2.23

• Maruti Suzuki India Ltd. Auto 2.05


Titan company Ltd. consumer Durables 1.66

Britannia Industries Ltd. consumer Non Durables 1.63


Tech Mahindra Ltd. Software 1.47


Dr Reddys Laboratories Ltd. Pharmaceuticals 1.36

Housing Development Finance corporation Ltd. £ Finance

1.35

Nestle India Ltd. consumer Non Durables 1.21

ITc Ltd. consumer Non Durables 1.13

Shriram Transport Finance company Ltd. Finance

1.12

Dabur India Ltd. consumer Non Durables 1.08

Ashok Leyland Ltd Auto 0.99

Adani Ports & Special economic Zone Transportation

0.97


Adani enterprises Ltd. Trading 0.93


Ncc LTD construction Project 0.77



EScORTS LTD Auto 0.62

JSW Steel Ltd Ferrous Metals 0.62


Multi commodity Exchange of India Ltd. Finance

0.60


IDFc Ltd. Finance 0.52

century Textiles & Industries Ltd. cement 0.51

Zee entertainment enterprises Ltd. Media & entertainment

0.47

Hindalco Industries Ltd Non - Ferrous Metals 0.46

Strides Pharma Science Ltd. Pharmaceuticals 0.46

Raymond Ltd. Textile Products 0.45


Bharat Financial Inclusion Ltd. Finance 0.43

Marico Ltd. consumer Non Durables 0.43

LIc Housing Finance Ltd. Finance 0.42



The Tata Power company Ltd. Power 0.39


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

0.37

Godrej consumer Products Ltd. consumer Non Durables 0.36


Wipro Ltd. Software 0.34

IRB Infrastructure Developers Ltd. construction

0.33

DLF Ltd. construction 0.30

M&M Financial Services Ltd. Finance 0.30

Bajaj Finserv Ltd Finance 0.28

Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.24

Godrej Industries Ltd. consumer Non Durables 0.23

Havells India Ltd. consumer Durables 0.23

United Spirits Ltd. consumer Non Durables 0.23

cadila Healthcare Ltd. Pharmaceuticals 0.22

eicher Motors Ltd. Auto 0.22


equitas Holdings Ltd. Finance 0.20

Ambuja cements Ltd. cement 0.18


The South Indian Bank Ltd. Banks 0.15

Wockhardt Ltd. Pharmaceuticals 0.15

Tata elxsi Ltd. Software 0.14


canFin Homes Ltd Finance 0.13



JAIN Irrigation Systems Ltd. Industrial Products 0.12

Reliance Infrastructure Ltd. Power 0.12

Grasim Industries Ltd. cement 0.11

MRF Ltd. Auto Ancillaries 0.11


Petronet LNG Ltd. Gas 0.10


Reliance capital Ltd. Finance 0.09

Reliance Power Ltd Power 0.09


IDBI Bank Ltd. Banks 0.08

Kotak Mahindra Bank Ltd. Banks 0.08

Piramal enterprises Ltd. Pharmaceuticals 0.08

TV18 Broadcast Ltd. Media & entertainment 0.08

Bharat Forge Ltd. Industrial Products 0.07

Guj State Fertilizers & chemicals Fertilisers

0.06

InterGlobe Aviation Ltd. Transportation 0.05

IFcI Ltd. Finance 0.04

Jubilant Foodworks Ltd. consumer Non Durables 0.04

Kajaria ceramics Ltd. construction 0.04

exide Industries Ltd. Auto Ancillaries 0.03


Shree cement Ltd. cement 0.02

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of January 31, 2019 unless otherwise specified. ....contd on next page

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

34 January 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 (%) ##




(`)##

Jan 31, 18 Last 1 Year 5.56 4.85 -0.35 10,556 10,485 9,965Jan 29, 16 Last 3 Years 5.89 5.14 14.20 11,879 11,628 14,910Jan 31, 14 Last 5 Years 6.53 6.25 13.61 13,721 13,546 18,930Oct 23, 07 Since Inception 7.13 N.A. 7.49 21,748 N.A. 22,594

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 January 31, 2019 unless otherwise specified.



n equity 66.87n AAA/AAA(SO)/A1+/A1+(SO)

& equivalent 2.84n AA+ 0.06n AA/AA- 2.77n A+ & BELOw 3.45n cash, cash Equivalents and



n equity 66.87n credit Exposure 9.12n cash, cash Equivalents and


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


Bharti Infratel Ltd. Telecom - equipment & Accessories

0.01

GMR Infrastructure Ltd. construction Project 0.01

Oracle Financial Services Software Ltd.

Software 0.01

Acc Ltd. cement @

Sub Total 66.87

DEBT & DEBT RElATED

CREDiT EXPOSURE

• Punjab National Bank cARE - A+ 2.17

• Housing Development Finance corporation Ltd. £ cRISIL - AAA 2.13

• Vedanta Ltd. cRISIL - AA 2.09





Bank of Baroda cARE - AA 0.42

Union Bank of India IND - AA 0.26

IcIcI Bank Ltd. IcRA - AA+ 0.06

Sub Total 9.12

Short Term Deposits as margin for Futures & Options 20.18


Grand Total 100.00

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

Outstanding exposure in derivative instruments (` in crore) 2,363.41




0.010.060.110.190.230.290.450.530.550.670.780.820.900.910.930.971.02

1.892.03

5.395.61

6.366.69

7.658.59

13.24

0 2 4 6 8 10 12 14

Telecom - Equipment & AccessoriesFertilisers

Industrial Capital GoodsIndustrial Products

GasAuto AncillariesTextile Products

PesticidesMedia & Entertainment

ConstructionConstruction Project

CementNon - Ferrous Metals

Telecom - ServicesTradingPower

TransportationConsumer Durables

Ferrous MetalsPetroleum Products

FinanceSoftware

BanksAuto

Consumer Non DurablesPharmaceuticals

January 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 20.3535Regular Plan - Dividend Option 13.8433Regular Plan - Quarterly Dividend Option 10.2430Direct Plan - Growth Option 20.4744Direct Plan - Dividend Option 14.0513Direct Plan - Quarterly Dividend Option 10.1381



qUANTiTATiVE DATA

Average Maturity * 2.69 yearsMacaulay Duration * 2.17 yearsModified Duration * 2.02 yearsYield to Maturity * 8.29%* 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 (%) ##




(`)##

Jan 31, 18 Last 1 Year 6.83 6.42 7.16 10,683 10,642 10,716Jan 29, 16 Last 3 Years 7.86 7.67 6.58 12,557 12,490 12,113Jan 31, 14 Last 5 Years 8.65 9.10 8.10 15,143 15,461 14,764Jun 29, 10 Since Inception 8.62 7.93 6.35 20,354 19,272 16,983

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 January 31, 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 3.408.76% Maharashtra SDL - Mat 220222 Sovereign 1.568.94% Gujarat SDL - Mat 070322 Sovereign 0.867.42% Maharashtra SDL - Mat 110522 Sovereign 0.766.17 GOI 2023 Sovereign 0.428.66% Maharashtra SDL - Mat 250122 Sovereign 0.318.64% Tamil Nadu SDL - Mat 060721 Sovereign 0.027.68 GOI 2023 Sovereign 0.01Sub Total 7.34

CREDiT EXPOSURE • Power Finance corporation Ltd. cARE - AAA / cRISIL -

AAA / IcRA - AAA 8.68• Bajaj Finance Ltd. cRISIL - AAA / IND - AAA 6.52• ONGc Petro additions Ltd.

(OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 5.98• Housing Development

Finance corporation Ltd. £ cRISIL - AAA 5.90• Indiabulls Housing Finance Ltd. cARE - AAA 5.06• Reliance Industries Ltd. cRISIL - AAA / IcRA - AAA 4.99• M&M Financial Services Ltd. IND - AAA 4.71• HDB Financial Services Ltd. cARE - AAA / cRISIL - AAA 4.51• Rural electrification

corporation Ltd. cRISIL - AAA / IND - AAA 4.50• LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 3.93Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 2.25State Bank of India cRISIL - AAA 2.21Reliable Devices Trust IcRA - AAA(SO) 2.05export - Import Bank of India cRISIL - AAA 2.03Reliance Jio Infocomm Ltd. cRISIL - AAA 2.02National Highways Authority of India cARE - AAA / cRISIL - AAA 1.95Indian Railways Finance corporation Ltd. cRISIL - AAA 1.69


NTPc Ltd. cRISIL - AAA 1.65Tata Sons Ltd. cRISIL - AAA 1.15L&T Infrastructure Finance Ltd. cARE - AAA 1.04National Bank for Agriculture & Rural Development cRISIL - AAA 1.01Power Grid corporation of India Ltd. cRISIL - AAA 0.96Small Industries Development Bank cARE - AAA 0.90Bank of Baroda cARE - AAA 0.86Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA 0.79Andhra Pradesh expressway Ltd. (NHAI Annuity) IcRA - AAA(SO) 0.54Housing and Urban Development corporation Ltd. IND - AAA 0.51Nabha Power Ltd. (corporate Guarantee of L&T Ltd.) IcRA - AAA(SO) 0.43Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA 0.39Toyota Financial Services India Ltd cRISIL - AAA 0.26Gujarat Road and Infrastructure company Ltd. IcRA - AAA(SO) 0.21Kotak Mahindra Prime Ltd. cRISIL - AAA 0.21Daimler Financial Services India Pvt. Ltd. IND - AAA 0.19NHPc Ltd. IND - AAA 0.04Sub Total 80.12

Total 87.46MONEY MARKET iNSTRUMENTSCD/CPIcIcI Bank Ltd. cRISIL - A1+ / IcRA - A1+ 1.60Small Industries Development Bank of India cARE - A1+ / IcRA - A1+ 1.17Sub Total 2.77cash, cash Equivalents and Net current Assets 9.77

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 7.34

n cD 2.77




n Sovereign 7.34n AAA/AAA(SO)/A1+/A1+(SO)

& equivalent 82.89n 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 January 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 15.0075Regular Plan - Dividend Option 13.8186Regular Plan - Quarterly Dividend Option 10.3070Direct Plan - Growth Option 15.6477Direct Plan - Dividend Option 13.7164Direct Plan - Quarterly Dividend Option 10.4308



qUANTiTATiVE DATA

Average Maturity * 2.46 yearsMacaulay Duration * 2.09 yearsModified Duration * 1.93 yearsYield to Maturity * 9.66%

* 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 January 31, 2019 unless otherwise specified. ≈ Based on long term rating.



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year 5.44 7.10 7.16 10,544 10,710 10,716Jan 29, 16 Last 3 Years 7.59 7.53 6.58 12,461 12,441 12,113Mar 25, 14 Since Inception 8.72 8.21 8.08 15,008 14,668 14,588

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


Company Industry+ / Security Rating


DEBT & DEBT RElATED


8.39% Rajasthan SDL - Mat 150322 Sovereign Sovereign 0.30

Sub Total 0.30

CREDiT EXPOSURE

• HPcL-Mittal Energy Ltd. IcRA - AA+ IcRA - AA+ 4.35

• Vedanta Ltd. cRISIL - AA cRISIL - AA 4.29

• TATA International Ltd. cARE - A+ IcRA - A 4.10

• Rural Electrification corporation Ltd. cARE - AAA / cRISIL - AAA cRISIL - AAA 3.16

• Tata Steel Ltd. cARE - AA / cARE - AA- cARE - AA 2.93

• The Tata Power company Ltd. cARE - AA / cRISIL - AA- cRISIL - AA- 2.92

• Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.)

cARE - AAA / cRISIL - AAA cRISIL - AAA 2.74



• HDFc Bank Ltd. cARE - AA+ cRISIL - AAA 2.65

• Punjab National Bank cARE - A+ IcRA - AA- 2.40

• Nuvoco Vistas corporation Ltd. (100% subsidiary of Nirma Ltd. & erstwhile Lafarge India Ltd.) cRISIL - AA cRISIL - AA 2.33

Dilip Buildcon Ltd. cRISIL - A cRISIL - A 2.30

Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA cRISIL - AAA 2.22

Talwandi Sabo Power Ltd (corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) IND - A+ 2.20

Muthoot Finance Ltd. IcRA - AA IcRA - AA- 1.89

DB consolidated Pvt. Ltd. (Dainik Bhaskar Group company) NA - UNRATeD INTERNAL - A-(SO) 1.79

Tata Sky Ltd. (Subsidiary of Tata Sons) cRISIL - AA cRISIL - AA 1.74

Adani Transmission Ltd. IND - AA+ IND - AA+ 1.69

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 0.30

n cP 3.19



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

January 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 January 31, 2019 unless otherwise specified.



Reliance Jio Infocomm Ltd. cRISIL - AAA cRISIL - AAA 1.65

coastal Gujarat Power Ltd. (corporate Guarantee of Tata Power) cARE - AA(SO) cARE - AA(SO) 1.63

Sansar Trust Nov 2018 IcRA - AAA(SO) IcRA - AAA(SO) 1.61

Prism Johnson Ltd. IcRA - A- / IND - A- IcRA - A- 1.57

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

cARE - A+(SO) / cRISIL - A+(SO) cARE - A+(SO) 1.53

Small Industries Development Bank cARE - AAA cRISIL - AAA 1.46

Power Finance corporation Ltd cARE - AAA / cRISIL - AAA / IcRA - AAA cRISIL - AAA 1.43

Aasan corporate Solutions Pvt Ltd (Ajay Piramal Group co) IcRA - AA-(SO) IcRA - AA-(SO) 1.36

TMF Holdings Ltd. (Subsidiary of Tata Motors Ltd.) cRISIL - AA cRISIL - AA 1.18

JM Financial Asset Reconstruction company Ltd. IcRA - AA- cRISIL - AA- 1.13

Power Grid corporation of India Ltd cRISIL - AAA cRISIL - AAA 1.05

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

BRIcKwORKS - A+(SO) / BRIcKwORKS - AA-(SO) INTeRNAL - A 1.04

Hindalco Industries Ltd cRISIL - AA cRISIL - AA 1.02

Hinduja Leyland Finance Ltd. cARE - AA- cARE - AA- 0.94

Indiabulls Housing Finance Ltd. cARE - AAA / cRISIL - AAA cRISIL - AA+ 0.90

Reliable Devices Trust IcRA - AAA(SO) IcRA - AAA(SO) 0.89

Housing Development Finance corporation Ltd. £ cRISIL - AAA cRISIL - AAA 0.89

GeRA Development Private Ltd cARE - A+ cARE - A+ 0.87

Shriram Transport Finance co. Ltd. cARE - AA+ / cRISIL - AA+ / IND - AA+ cRISIL - AA+ 0.86

Tata Motors Ltd. cARE - AA+ cRISIL - AA 0.82

Starlite Lighting Ltd. (corporate Guarantee of Bajaj electrical Ltd.) IcRA - A+(SO) IcRA - A+(SO) 0.79

Syndicate Bank cARE - A+ cRISIL - AA 0.75

Simplex Infrastructures Ltd. cARE - A- cARE - A- 0.74

KEc International Ltd. IcRA - AA- cARE - AA- 0.73

TATA Housing Development co. Ltd IcRA - AA cARE - AA 0.72

Union Bank of India IND - AA cARE - AA- 0.68

Tata Motors Finance Ltd. cARE - AA+ cRISIL - AA 0.67

NTPc Ltd. cRISIL - AAA cRISIL - AAA 0.63

Tata Realty and Infrastructure Ltd. cRISIL - AA cRISIL - AA 0.60

Bharat Petroleum corporation Ltd. cRISIL - AAA cRISIL - AAA 0.59

Indostar capital Finance Ltd. cARE - AA- cARE - AA- 0.59

Tata capital Financial Services Ltd IcRA - AAA cRISIL - AAA 0.59

cholamandalam Investment & Finance cRISIL - AA+ / IcRA - AA+ cARE - AA 0.58

Axis Bank Ltd. cRISIL - AA+ cRISIL - AAA 0.58

export - Import Bank of India cRISIL - AAA cRISIL - AAA 0.58

Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.49

Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.49

Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.49

elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.49

Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.49

SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) BRIcKwORKS - AA-(SO) 0.49

SeI enerstar Renewable energy Pvt Ltd (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.49

SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.49

Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.49

Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.49

Prabhakar Viniyog Pvt. Ltd. (Secured with shares of emami Ltd.) BRIcKwORKS - AA-(SO) IND - AA-(SO) 0.47



APL Apollo Tubes Ltd. cARE - AA- cARE - AA- 0.42

Andhra Bank cARE - A+ cRISIL - AA 0.41

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

PNB Housing Finance Ltd. IND - AA+ cRISIL - AA+ 0.37

Aarti Industries Ltd. cRISIL - AA- cRISIL - AA- 0.36

Inox Air Products Pvt. Ltd. cRISIL - AA cRISIL - AA 0.34

Repco Home Finance Ltd cARE - AA / cRISIL - AA IcRA - AA- 0.34

Raviraj Viniyog Pvt. Ltd. (Secured with shares of emami Ltd.) BRIcKwORKS - AA-(SO) BRIcKwORKS - AA-(SO) 0.33

emami Infrastructure Ltd. (Secured with shares of emami Ltd.) BRIcKwORKS - AA-(SO) BRIcKwORKS - AA-(SO) 0.32

JM Financial credit Solutions Ltd IcRA - AA cRISIL - AA 0.31

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

HDB Financial Services Ltd. cRISIL - AAA cRISIL - AAA 0.29

India Infoline Finance Ltd. IcRA - AA cRISIL - AA 0.29

L&T Finance Ltd. cARE - AAA cARE - AAA 0.29

L&T Housing Finance Ltd. cARE - AAA cARE - AAA 0.29

KKR India Financial Services Pvt Ltd. cRISIL - AA+ cRISIL - AA+ 0.24

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+ / BRIcKwORKS - AA- BRIcKwORKS - A+(SO) 0.19

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

Bhanu Vyapar Pvt. Ltd. (Secured with shares of emami Ltd.) IND - AA-(SO) IND - AA-(SO) 0.14

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

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

NHPc Ltd. IcRA - AAA cRISIL - AAA 0.11

Tata Sons Ltd. cRISIL - AAA cRISIL - AAA 0.11

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) INTERNAL - A+ 0.05

Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) cRISIL - AAA(SO) 0.03

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

Sub Total 92.56

MONEY MARKET iNSTRUMENTS

CD/CP

Simplex Infrastructures Ltd. cARE - A2+ cARE - A- 1.76

Steel Authority Of India Ltd. cARE - A1+ cARE - AA- 1.43

Sub Total 3.19


Grand Total 100.00


[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

38 January 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 * 2.54 yearsMacaulay Duration * 2.16 yearsModified Duration * 2.00 yearsYield to Maturity * 8.71%* 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 January 31, 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. 61.


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

• Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA / IcRA - AAA 9.31

• National Highways Authority of India cRISIL - AAA 8.85

• Power Grid corporation of India Ltd. cRISIL - AAA 7.32

• Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 6.71

• Bank of Baroda cARE - AA 5.70

• Rural electrification corporation Ltd.

cRISIL - AAA / IND - AAA 5.43

• Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India)

cARE - AAA(SO) / cRISIL - AAA / cRISIL - AAA(SO) 5.19



• TATA International Ltd. cARE - A+ 4.40

export - Import Bank of India cRISIL - AAA 2.35




Small Industries Development Bank cARE - AAA 1.79

NTPc Ltd. cRISIL - AAA 1.72

LIc Housing Finance Ltd. cRISIL - AAA 1.61


Vijaya Bank cARE - AA- 1.42


State Bank of India cRISIL - AA+/cRISIL - AAA 0.95


Indian Railways Finance corporation Ltd. cRISIL - AAA 0.86


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

Housing Development Finance corporation Ltd. £

cRISIL - AAA / IcRA - AAA 0.39


Sub Total 86.22


Grand Total 100.00







n AAA/AAA(SO)/A1+/A1+(SO) & equivalent 54.38

n AA+ 1.97n AA/AA- 17.11n A+ & Below 12.76n 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

January 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 (%) ##




(`)##

Jan 31, 18 Last 1 Year 6.27 7.82 7.16 10,627 10,782 10,716Jan 29, 16 Last 3 Years 8.00 7.49 6.58 12,606 12,428 12,113Jan 31, 14 Last 5 Years 9.42 9.21 8.10 15,690 15,541 14,764Jul 25, 01 Since Inception 7.69 8.19 N.A. 36,676 39,734 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 89.74



n Sovereign 89.74n 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 18.56





• 8.60% Rajasthan SDL- Mat 061128 Sovereign 4.34

• 8.21% Rajasthan (UDAY) SDL - Mat 310322 Sovereign 4.25

• 8.61% Uttar Pradesh SDL (UDAY) - Mat 210322 Sovereign 3.29



8.39% Rajasthan SDL - Mat 150322 Sovereign 2.14

8.21% Haryana SDL - Mat 310322 Sovereign 2.13

7.86% Rajasthan SDL (UDAY Scheme- Strip II ) - ISD 230616 Mat 230619 Sovereign 2.11


8.66% Maharashtra SDL - Mat 250122 Sovereign 1.29








Sub Total 70.92

T-BillS

• 182 Days TBill - Mat 080319 Sovereign 18.82

Sub Total 18.82

Total 89.74


Grand Total 100.00


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

PORTFOLIOKEY FACTS

40 January 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 59.3302Regular Plan - Quarterly Dividend Option 11.6490Regular Plan - Half-Yearly Dividend Option 11.2972Regular Plan - Yearly Dividend Option 12.7402Regular Plan - Normal Dividend Option 12.7102Direct Plan - Growth Option 62.1014Direct Plan - Quarterly Dividend Option 12.2316Direct Plan - Half-Yearly Dividend Option 12.3378Direct Plan - Yearly Dividend Option 13.3838Direct Plan - Normal Dividend Option 13.0758



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 (%) ##




(`)##

Jan 31, 18 Last 1 Year 2.13 6.42 7.16 10,213 10,642 10,716Jan 29, 16 Last 3 Years 6.31 7.67 6.58 12,021 12,490 12,113Jan 31, 14 Last 5 Years 7.86 9.10 8.10 14,600 15,461 14,764Apr 28, 97 Since Inception 8.52 N.A. N.A. 59,330 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 21.14





& equivalent 43.44n AA/AA- 13.41n A+ & Below 12.52n 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 5.41



8.21% Haryana SDL - Mat 310322 Sovereign 3.05


7.42% Maharashtra SDL - Mat 110522 Sovereign 1.56

8.68% Gujarat SDL - Mat 060223. Sovereign 0.62

8.51% Punjab SDL - Mat 100423 Sovereign 0.09


8.26% Maharashtra SDL - ISD 120815 Mat 120825 Sovereign 0.07

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

Sub Total 21.14

CREDiT EXPOSURE

• Power Finance corporation Ltd. cARE - AAA 10.11


• Hazaribagh Ranchi expressway Ltd. (NHAI Annuity) cARE - BB 6.65

• Reliance Industries Ltd. cRISIL - AAA 6.09

• State Bank of India cARE - AAA(SO) / cRISIL - AAA 6.08



• Small Industries Development Bank cARE - AAA 3.46

• LIc Housing Finance Ltd. cRISIL - AAA 3.37

Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India) cARE - AAA(SO) 3.17


Rural Electrification corporation Ltd. IND - AAA 2.94

Reliance Jio Infocomm Ltd. cRISIL - AAA 2.92

Housing Development Finance corporation Ltd. £ IcRA - AAA 2.88

Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cRISIL - AAA 1.72



Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA 0.62


Sub Total 69.37

Total 90.51


Grand Total 100.00

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


PORTFOLIOKEY FACTS

January 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 39.5318Regular Plan - Quarterly Dividend Option 10.8493Regular Plan - Normal Dividend Option 12.4655Direct Plan - Growth Option 41.4360Direct Plan - Quarterly Dividend Option 11.4378Direct Plan - Normal Dividend Option 13.1036



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 (%) ##




(`)##

Jan 31, 18 Last 1 Year 4.36 6.42 7.16 10,436 10,642 10,716Jan 29, 16 Last 3 Years 6.43 7.67 6.58 12,062 12,490 12,113Jan 31, 14 Last 5 Years 7.85 9.10 8.10 14,597 15,461 14,764Sep 11, 00 Since Inception 7.76 N.A. N.A. 39,532 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 19.06







[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 13.27






9.15 GOI 2024 Sovereign @

Sub Total 19.06

CREDiT EXPOSURE

• Punjab National Bank cARE - A+ 8.86

• Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA 7.97

• The Tata Power company Ltd. cRISIL - AA- 7.01

• NTPc Ltd. cRISIL - AAA 6.27

• National Bank for Agriculture & Rural Development cRISIL - AAA 6.05


• Indian Railways Finance corporation Ltd.


• Reliance Jio Infocomm Ltd. IcRA - AAA 5.95

• State Bank of India cRISIL - AA+ 4.00


Tata Steel Ltd. cARE - AA- 3.20

Reliance Industries Ltd. cRISIL - AAA 3.11

export - Import Bank of India cRISIL - AA+ 3.03

National Highways Authority of India cRISIL - AAA 3.01


Sub Total 68.30

Total 87.36


Grand Total 100.00

• Top Ten Holdings, @ less than 0.01%

PORTFOLIOKEY FACTS

42 January 2019



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year 5.92 7.10 7.22 10,592 10,710 10,722Jan 29, 16 Last 3 Years 7.54 7.53 6.73 12,445 12,441 12,166Jan 31, 14 Last 5 Years 8.21 8.30 7.38 14,838 14,902 14,282Feb 06, 02 Since Inception 7.87 N.A. 6.04 36,209 N.A. 27,094

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 36.2085Regular Plan - Dividend Option 13.7383Regular Plan - Fortnightly Dividend Option 10.5887Direct Plan - Growth Option 37.4819Direct Plan - Dividend Option 14.0325Direct Plan - Fortnightly Dividend Option 10.6224



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





n G-Sec 3.16




n Sovereign 3.16n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent 52.34n AA+ 12.20n AA/AA- 16.80n A+ & Below 7.10n cash, cash Equivalents and Net

current Assets 8.40

[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 3.16

CREDiT EXPOSURE

• Rural electrification corporation Ltd. cRISIL - AAA 8.95

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

• Power Finance corporation Ltd. cRISIL - AAA 7.47


• Indiabulls Housing Finance Ltd. BRIcKwORKS - AAA / cRISIL - AAA 6.00

• Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA 5.66

• Housing and Urban Development corporation Ltd. IcRA - AAA 4.53

• HDFc Bank Ltd. cARE - AA+ 4.48


• Muthoot Finance Ltd. IcRA - AA 3.51


Reliable Devices Trust IcRA - AAA(SO) 2.34

National Bank for Agriculture & Rural Development cRISIL - AAA 2.28

coastal Gujarat Power Ltd. (corporate Guarantee of Tata Power) cARE - AA(SO) 2.27




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


Talwandi Sabo Power Ltd (corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) 1.78

Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA 1.70

Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India) cRISIL - AAA(SO) 0.93



Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) 0.43

Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) 0.43

Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) 0.43

elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) 0.43

Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) 0.43

SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) 0.43

SeI enerstar Renewable energy Pvt Ltd (Greenko) cARE - AA-(SO) 0.43

SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) 0.43

Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) 0.43

Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) 0.43

Sub Total 88.44

Total 91.60


Grand Total 100.00


PORTFOLIOKEY FACTS

January 2019 43



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jan 31, 18 Last 1 Year 7.19 7.10 7.22 10,719 10,710 10,722Jan 29, 16 Last 3 Years 7.62 7.53 6.73 12,471 12,441 12,166Jan 31, 14 Last 5 Years 8.38 8.30 7.38 14,955 14,902 14,282Jun 25, 10 Since Inception 8.56 8.09 6.90 20,283 19,531 17,765

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 January 31, 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 20.2825Regular Plan - Fortnightly Dividend Option 10.2291Regular Plan - Normal Dividend Option 13.6373Direct Plan - Growth Option 20.4658Direct Plan - Fortnightly Dividend Option 10.2893Direct Plan - Normal Dividend Option 13.6816



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





n G-Sec, SDL 0.05

n cP 2.46

n cD 2.46






current Assets 6.14

[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 11.60

• Housing Development Finance corporation Ltd. £

cRISIL - AAA / IcRA - AAA 9.01

• Rural electrification corporation Ltd. cRISIL - AAA / IND - AAA 8.01

• ONGc Petro additions Ltd. (OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 6.83


• Indiabulls Housing Finance Ltd. BRIcKwORKS - AAA 5.56

• Reliance Jio Infocomm Ltd. cRISIL - AAA / cRISIL - AAA(SO) / IcRA - AAA 5.09

• National Bank for Agriculture & Rural Development cRISIL - AAA / IND - AAA 3.60

• M&M Financial Services Ltd. cARE - AAA / IND - AAA 3.44

• Tata capital Financial Services Ltd IcRA - AAA 3.35

Reliance Industries Ltd. cRISIL - AAA / IcRA - AAA 3.34


Housing and Urban Development corporation Ltd. IcRA - AAA / IND - AAA 3.07


Sansar Trust Nov 2018 IcRA - AAA(SO) 1.68


Small Industries Development Bank of India cARE - AAA 1.33

Bajaj Finance Ltd. cRISIL - AAA / IND - AAA 1.22


Tata Motors Ltd. cARE - AA+ 1.10


Aditya Birla Finance Ltd. IcRA - AAA / IND - AAA 0.68

Fullerton India Home Finance company Ltd. cARE - AA+ 0.62


L&T Finance Ltd. cARE - AAA 0.61


Talwandi Sabo Power Ltd (corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) 0.61

Hindalco Industries Ltd. cRISIL - AA 0.56


canFin Homes Ltd. cARE - AAA 0.42

Indian Railways Finance corp. Ltd. IcRA - AAA 0.30

Toyota Financial Services India Ltd. cRISIL - AAA 0.30

NHPc Ltd. IcRA - AAA 0.24


Power Grid corporation of India Ltd. cRISIL - AAA 0.05

Sub Total 88.89

Total 88.94


CD/CP

Steel Authority Of India Ltd. cARE - A1+ 2.46

Vijaya Bank cRISIL - A1+ 2.46

Sub Total 4.92


Grand Total 100.00


PORTFOLIOKEY FACTS

44 January 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 jANUARY 31, 2019)^^ NAV PER UNiT (`)

Retail OptionRegular Plan - Growth Option 38.5843Regular Plan - Daily Dividend Reinvestment Option 10.1428Regular Plan - weekly Dividend Option 10.1637Regular Plan - Monthly Dividend Option 10.1456Direct Plan - Growth Option 40.2575Direct Plan - Daily Dividend Reinvestment Option 10.0655Direct Plan - weekly Dividend Option 10.1936Direct Plan - Monthly Dividend Option 10.1486Wholesale OptionRegular Plan - Growth Option 40.9408Regular Plan - Daily Dividend Reinvestment Option 10.1574Regular Plan - weekly Dividend Option 10.1655Regular Plan - Monthly Dividend Option 10.1661



qUANTiTATiVE DATA

Average Maturity * 303 daysMacaulay Duration * 281 daysModified Duration * 252 daysYield to Maturity * 8.21%* 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 (%) ##




(`)##

Jan 31, 18 Last 1 Year 6.78 7.68 7.22 10,678 10,768 10,722Jan 29, 16 Last 3 Years 7.23 7.27 6.73 12,338 12,351 12,166Jan 31, 14 Last 5 Years 7.52 7.81 7.38 14,374 14,571 14,282Nov 18, 99 Since Inception 7.28 N.A. 6.48 38,584 N.A. 33,449

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




n G-Sec, SDL 1.45

n cP 11.57

n cD 6.86






current Assets 5.48

[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)7.86% Rajasthan SDL (UDAY Scheme- Strip II ) - ISD 230616 Mat 230619 Sovereign 0.787.17 GOI 2028 Sovereign 0.517.65% Karnataka SDL - Mat 061227 Sovereign 0.106.17 GOI 2023 Sovereign 0.056.84 GOI 2022 Sovereign 0.016.79 GOI 2027 Sovereign @Sub Total 1.45CREDiT EXPOSURE • Power Finance corporation Ltd. cRISIL - AAA 6.64• National Bank for Agriculture

& Rural Development cRISIL - AAA / IND - AAA 6.50• ONGc Petro additions Ltd.

(OPAL) (Put on ONGc Ltd.) cRISIL - AAA(SO) 5.99• National Housing Bank cARE - AAA 5.21• Housing Development

Finance corporation Ltd. £ cRISIL - AAA 4.46• Power Grid corporation of

India Ltd.cARE - AAA / cRISIL - AAA 3.73

• Nuvoco Vistas corporation Ltd. (100% subsidiary of Nirma Ltd. & erstwhile Lafarge India Ltd.) cRISIL - AA 3.01

Tata capital Financial Services Ltd. cRISIL - AAA / IcRA - AAA 2.85Indian Railways Finance corporation Ltd.


Reliance Jio Infocomm Ltd. cRISIL - AAA 2.39Union Bank of India cARE - AA- 2.16ONGc Mangalore Petrochemicals Ltd IND - AAA 2.07Reliable Devices Trust IcRA - AAA(SO) 1.94Petronet LNG Ltd. cRISIL - AAA 1.83Syndicate Bank cARE - A+ 1.79Small Industries Development Bank of India cARE - AAA 1.77canara Bank cRISIL - AA 1.76L&T Finance Ltd. cARE - AAA 1.56State Bank of India cRISIL - AA+ 1.55Punjab National Bank cARE - A+ 1.48M&M Financial Services Ltd. IND - AAA 1.26Housing and Urban Development corporation Ltd. IcRA - AAA 1.04Shriram Transport Finance company Ltd. IND - AA+ 1.02Axis Bank Ltd. cRISIL - AA+ 1.01Adani Transmission Ltd. IND - AA+ 0.93Raviraj Viniyog Pvt. Ltd. (Securedwith shares of emami Ltd.) BRIcKwORKS - AA-(SO) 0.92KKR India Financial Services Pvt Ltd. cRISIL - AA+ 0.86Vedanta Ltd. cRISIL - AA 0.82IcIcI Home Finance Ltd IcRA - AAA 0.78


Kotak Mahindra Prime Ltd. cRISIL - AAA 0.62Rural Electrification corporation Ltd. cRISIL - AAA 0.60emami Infrastructure Ltd.(Secured with shares of emami Ltd.) BRIcKwORKS - AA-(SO) 0.56NRSS xxIx Transmission Ltd. cRISIL - AAA 0.52export - Import Bank of India cRISIL - AAA 0.51Sun Pharma Laboratories Ltd. IcRA - AAA 0.43Tata Motors Ltd. cARE - AA+ 0.26LIc Housing Finance Ltd. cRISIL - AAA 0.21HDB Financial Services Ltd. cRISIL - AAA 0.16NTPc Ltd. cRISIL - AAA 0.09Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) 0.05Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) 0.05Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) 0.05elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) 0.05Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) 0.05SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) 0.05SeI enerstar Renewable energy Pvt Ltd (Greenko) cARE - AA-(SO) 0.05SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) 0.05Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) 0.05Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) 0.05Bajaj Finance Ltd. cRISIL - AAA 0.04Sub Total 74.64Total 76.09MONEY MARKET iNSTRUMENTSCD/CP • Indiabulls Housing Finance Ltd. cRISIL - A1+ 5.16• Indusind Bank Ltd. cRISIL - A1+ 4.97• PNB Housing Finance Ltd. cARE - A1+ 4.04Deutsche Investments India Pvt. Ltd. cRISIL - A1+ 1.36Axis Bank Ltd. cRISIL - A1+ 1.01L&T Finance Ltd. cARE - A1+ 0.76IDFc First Bank Ltd. cRISIL - A1+ 0.72Tata capital Financial Services Ltd IcRA - A1+ 0.25IcIcI Bank Ltd. IcRA - A1+ 0.16Sub Total 18.43cash, cash Equivalents and Net current Assets 5.48Grand Total 100.00• Top Ten Holdings, £ co-sponsor, @ less than 0.01%


PORTFOLIOKEY FACTS

January 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 3,826.7579Regular Plan - Daily Dividend Reinvestment Option 1,063.6400Regular Plan - weekly Dividend Option 1,063.8162Direct Plan - Growth Option 3,859.7657Direct Plan - Daily Dividend Reinvestment Option 1,063.6400Direct Plan - weekly Dividend Option 1,063.8509



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 (%) ##




(`)##

Jan 31, 18 Last 1 Year 7.52 7.68 7.22 10,752 10,768 10,722Jan 31, 16 Last 3 Years 7.11 7.27 6.73 12,291 12,346 12,161Jan 31, 14 Last 5 Years 7.71 7.81 7.38 14,497 14,571 14,282Nov 18, 99 Since Inception 7.25 N.A. 6.48 38,399 N.A. 33,449

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 January 31, 2019 unless otherwise specified.

cP 64.35

cD 33.49



AAA/AAA(SO)/A1+/A1+(SO) & equivalent 97.84cash, cash Equivalents and Net current Assets 2.16



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


CD/CP

• NTPc Ltd. cARE - A1+ 8.23

• LIc Housing Finance Ltd. IcRA - A1+ 7.88

• Axis Bank Ltd. cRISIL - A1+ 7.61

• IcIcI Bank Ltd. cRISIL - A1+ / IcRA - A1+ 7.26

• Reliance Industries Ltd. cRISIL - A1+ / IcRA - A1+ 5.58

• Indusind Bank Ltd. cRISIL - A1+ 5.05

• IDFc First Bank Ltd. cRISIL - A1+ 4.94

• Tata capital Financial Services Ltd. IcRA - A1+ 4.61

• Small Industries Development Bank of India cARE - A1+ / IcRA - A1+ 4.47

• Rural electrification corporation Ltd. cARE - A1+ 4.12

Reliance Jio Infocomm Ltd. cARE - A1+ / cRISIL - A1+ 3.66

L&T Finance Ltd. cARE - A1+ 3.00

Deutsche Investments India Pvt Ltd. cRISIL - A1+ 2.97

JSW Steel Ltd. IcRA - A1+ 2.87

UPL Ltd. cRISIL - A1+ 2.36


L&T Infrastructure Finance Ltd. cRISIL - A1+ 2.35

Shriram Housing Finance Ltd. cARE - A1+ 2.34

TATA Housing Development company Ltd. IND - A1+ 2.34

canFin Homes Ltd. cARE - A1+ 2.31

Hero Fincorp Ltd. IcRA - A1+ 2.31

L&T Finance Holdings Ltd. cARE - A1+ 2.30

ScB Inv & Loan (I) Ltd cRISIL - A1+ 2.30

National Bank for Agriculture & Rural Development IND - A1+ 2.19

PNB Housing Finance Ltd. cRISIL - A1+ 2.11

Kotak Mahindra Bank Ltd. cRISIL - A1+ 1.40

Housing and Urban Development corporation Ltd. IND - A1+ 0.59

Hongkong & Shanghai Bank Ltd. IND - A1+ 0.57

Vedanta Ltd. cRISIL - A1+ 0.12

Sub Total 97.84


Grand Total 100.00


PORTFOLIOKEY FACTS

46 January 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 31.0139Regular Plan - Daily Dividend Reinvestment Option 10.0809Regular Plan - weekly Dividend Option 10.1411Regular Plan - Monthly Dividend Option 10.1497Wholesale OptionRegular Plan - Growth Option 32.0422Regular Plan - Daily Dividend Reinvestment Option 10.0809Regular Plan - weekly Dividend Option 10.1412Regular Plan - Monthly Dividend Option 10.1499Direct Plan - Growth Option 32.2323Direct Plan - Daily Dividend Reinvestment Option 10.0809Direct Plan - weekly Dividend Option 10.1413Direct Plan - Monthly Dividend Option 10.1500



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 (%) ##




(`)##

Jan 31, 18 Last 1 Year 7.45 7.68 7.22 10,745 10,768 10,722Jan 29, 16 Last 3 Years 7.72 7.27 6.73 12,508 12,351 12,166Jan 31, 14 Last 5 Years 8.25 7.81 7.38 14,865 14,571 14,282Oct 23, 07 Since Inception 8.19 7.54 6.47 24,307 22,711 20,281

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 1.90

n cP 11.04

n cD 16.17






current Assets 4.08

[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 0.42

7.86% Rajasthan SDL (UDAY Scheme- Strip II ) - ISD 230616 Mat 230619 Sovereign 0.30


7.65% Karnataka SDL - Mat 061227 Sovereign 0.23

9.23% Gujarat SDL - Mat 300322 Sovereign 0.06

7.69% Gujarat SDL - Mat 201227 Sovereign 0.01

Sub Total 1.90

CREDiT EXPOSURE


• Shriram city Union Finance Ltd. cARE - AA+ 6.01


• Shriram Transport Finance company Ltd. IND - AA+ 4.80

• National Bank for Agriculture & Rural Development cRISIL - AAA / IND - AAA 4.60

• National Housing Bank cARE - AAA 4.23





Indiabulls Housing Finance Ltd. BRIcKwORKS - AAA / cARE - AAA 1.98

Housing and Urban Development corporation Ltd. IcRA - AAA / IND - AAA 1.83


JM Financial credit Solutions Ltd. IcRA - AA 1.78

Power Grid corporation of India Ltd. cRISIL - AAA 1.67

State Bank of India cARE - AA+ / cRISIL - AA+ 1.36

Tata Motors Ltd. cARE - AA / cARE - AA+ 1.32

Indian Railways Finance corporation Ltd.



canara Bank cRISIL - AA 1.17

HPcL-Mittal Energy Ltd. IcRA - AA+ 0.98

NRSS xxIx Transmission Ltd. cRISIL - AAA 0.91


Gujarat Road and Infrastructure company Ltd. cARE - AAA(SO) 0.75


The Tata Power company Ltd. IcRA - AA- 0.61

Bharti Airtel Ltd. cRISIL - AA 0.60

Sun Pharma Laboratories Ltd. IcRA - AAA 0.60



Tata capital Financial Services Ltd. cRISIL - AAA 0.30



Sub Total 66.81

Total 68.71


CD/CP

• Indiabulls Housing Finance Ltd. cRISIL - A1+ 7.17

• IcIcI Bank Ltd. IcRA - A1+ 5.66

• Indusind Bank Ltd. cRISIL - A1+ 4.87

Axis Bank Ltd. cRISIL - A1+ 2.94

Au Small Finance Bank Ltd. cRISIL - A1+ 2.70


LIc Housing Finance Ltd. IcRA - A1+ 1.13


Reliance Industries Ltd. IcRA - A1+ 0.04

Sub Total 27.21


Grand Total 100.00


Outstanding exposure in derivative instruments Interest Rate Swap (` in crore) 4,225.00

PORTFOLIOKEY FACTS

January 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 10.3123Regular Plan - Daily Dividend Reinvestment Option 10.0500Regular Plan - weekly Dividend Option 10.0563Regular Plan - Monthly Dividend Option 10.0563Direct Plan - Growth Option 10.3245Direct Plan - Daily Dividend Reinvestment Option 10.0500Direct Plan - weekly Dividend Option 10.0565Direct Plan - Monthly Dividend Option 10.0565



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 13.41

n cD 7.09




n AAA/AAA(SO)/A1+/A1+(SO) & equivalent 80.81

n AA+ 8.76

ncash, cash Equivalents and Net current Assets 10.43

[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 8.15


• National Housing Bank cARE - AAA 6.11


• Reliance Jio Infocomm Ltd. cRISIL - AAA 6.11


• Indian Railways Finance corporation Ltd. cARE - AAA 4.08

• M&M Financial Services Ltd. IND - AAA 4.06



Tata capital Financial Services Ltd cRISIL - AAA 3.05


Sundaram BNP Paribas Home Finance Ltd. IcRA - AA+ 2.03

Kotak Mahindra Prime Ltd. cRISIL - AAA 1.63


Bajaj Finance Ltd. IND - AAA 1.02


Volkswagen Finance Private Ltd. IND - AAA 1.01

Power Grid corporation of India Ltd cRISIL - AAA 0.82

Housing and Urban Development corporation Ltd. cARE - AAA 0.61


Rural Electrification corporation Ltd. cRISIL - AAA 0.61

Sub Total 69.07


CD/CP

Indusind Bank Ltd. cRISIL - A1+ 5.11

canFin Homes Ltd. cARE - A1+ 3.99

L&T Finance Ltd. cARE - A1+ 3.77


Axis Bank Ltd. cRISIL - A1+ 1.98



Sub Total 20.50


Grand Total 100.00


PORTFOLIOKEY FACTS

48 January 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 jANUARY 31, 2019)^^ NAV PER UNiT (`)

HDFC liquid FundRegular Plan - Growth Option 3,618.0521Regular Plan - Daily Dividend Reinvestment Option 1,019.8200Regular Plan - weekly Dividend Option 1,031.6171Regular Plan - Monthly Dividend Option 1,026.8848Direct Plan - Growth Option 3,635.2408Direct Plan - Daily Dividend Reinvestment Option 1,019.8200Direct Plan - weekly Dividend Option 1,031.6251Direct Plan - Monthly Dividend Option 1,026.8932HDFC liquid Fund - Premium PlanRegular Plan - Growth Option 3,691.9930Regular 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.


(An open ended liquid scheme)HDFC Liquid Fund


DEBT & DEBT RElATED


7.76% Karnataka SDL - Mat 020319 Sovereign 0.24

Sub Total 0.24

T-BillS

• DcMB ( Discounted cash Management Bills) 45 days- ISD 010219 Mat 180319 Sovereign 10.80

• 91 Days TBill - Mat 210219 Sovereign 5.85

• 91 Days Tbill - ISD 201218 Mat 210319 Sovereign 5.23

182 Days TBill - Mat 280319 Sovereign 0.48

364 Days Tbill - Mat 210319 Sovereign 0.01

Sub Total 22.37

CREDiT EXPOSURE


Small Industries Development Bank of Inida cARE - AAA 1.50

LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 1.02

M&M Financial Services Ltd. cARE - AAA / IND - AAA 0.37

National Bank for Agriculture & Rural Development cRISIL - AAA 0.37

Kotak Mahindra Prime Ltd. cRISIL - AAA 0.32

Bajaj Finance Ltd. cRISIL - AA+ / IND - AAA 0.29

Rural Electrification corporation Ltd. cRISIL - AAA 0.29

Power Finance corporation Ltd cRISIL - AAA 0.27

PNB Housing Finance Ltd. IND - AA+ 0.26

Tata capital Financial Services Ltd. IcRA - AA+ / IcRA - AAA 0.14

Daimler Financial Services India Pvt. Ltd. IND - AAA 0.13

Sundaram Finance Ltd. cRISIL - AAA 0.13


ONGc Mangalore Petrochemicals Ltd. IND - AAA 0.10

Aditya Birla Finance Ltd. IcRA - AAA 0.06

L&T Infrastructure Finance Ltd. cARE - AAA 0.06

Nabha Power Ltd. (corporate Guarantee of L&T Ltd.) IcRA - AAA(SO) 0.06

Fullerton India credit company Ltd. cARE - AAA 0.05

Tata Motors Finance Ltd. cRISIL - AA 0.04

Indian Railways Finance corporation Ltd. cRISIL - AAA 0.03



Sub Total 8.97

Total 31.58


CD/CP

• National Bank for Agriculture & Rural Development cRISIL - A1+ / IND - A1+ 6.64

• Reliance Jio Infocomm Ltd. cARE - A1+ / cRISIL - A1+ 5.17

• Vedanta Ltd. cRISIL - A1+ / IcRA - A1+ 3.18

• Bharti Airtel Ltd. IcRA - A1+ 3.15

• Axis Bank Ltd. cRISIL - A1+ 2.93

• PNB Housing Finance Ltd. cARE - A1+ / cRISIL - A1+ 2.79


Adani Ports & Special economic Zone

cARE - A1+ / IcRA - A1+ / IND - A1+ 2.68

Hindustan Zinc Ltd. cRISIL - A1+ 2.53

Tata Teleservices Ltd. cRISIL - A1+ 2.17

Bajaj Finance Ltd. cRISIL - A1+ / IcRA - A1+ 1.97

Reliance Retail Ltd cARE - A1+ / IcRA - A1+ 1.91

Jammu & Kashmir Bank Ltd. cRISIL - A1+ 1.90

NTPc Ltd. cARE - A1+ / IcRA - A1+ 1.79

Indian Oil corporation Ltd. IND - A1+ 1.78

The South Indian Bank Ltd. cARE - A1+ / cRISIL - A1+ 1.52

Vijaya Bank cRISIL - A1+ 1.46

IDFc First Bank Ltd. cRISIL - A1+ 1.44

Tata Motors Finance Ltd. cARE - A1+ / cRISIL - A1+ / IcRA - A1+ 1.39

L&T Finance Ltd. cARE - A1+ / IcRA - A1+ 1.30

M&M Financial Services Ltd. IND - A1+ 1.28

Shriram Transport Finance company Ltd. IND - A1+ 1.28

Rural Electrification corporation Ltd. cARE - A1+ 1.27

Indiabulls Housing Finance Ltd. IcRA - A1+ 1.15

Tata capital Financial Services Ltd. cRISIL - A1+ / IcRA - A1+ 1.06

Small Industries Development Bank of India IcRA - A1+ 1.04

Bajaj Housing Finance Ltd. IND - A1+ 1.02

India Infoline Finance Ltd. IcRA - A1+ 1.02

Steel Authority of India Ltd. cARE - A1+ / IND - A1+ 0.90

L&T Housing Finance Ltd. cARE - A1+ / cRISIL - A1+ 0.81

Tata Steel Ltd. IcRA - A1+ 0.76

Hero Fincorp Ltd. IcRA - A1+ 0.71

Indusind Bank Ltd. cRISIL - A1+ 0.71

Nirma Ltd. cRISIL - A1+ 0.67

Bahadur chand Investments Private Ltd. cARE - A1+ 0.64

Shriram city Union Finance Ltd. cARE - A1+ / IcRA - A1+ 0.64

Tata Teleservices (Maharashtra) Ltd. cRISIL - A1+ 0.64

TMF Holdings Ltd. (Subsidiary of Tata Motors Ltd.) cARE - A1+ 0.64

canara Bank cRISIL - A1+ 0.63

Daimler Financial Services India Pvt. Ltd. cRISIL - A1+ 0.63

National Housing Bank cRISIL - A1+ 0.63

canFin Homes Ltd cARE - A1+ / IcRA - A1+ 0.57

National Fertilizers Ltd IND - A1+ 0.54

Magma Fincorp Ltd. cARE - A1+ / cRISIL - A1+ 0.52

Tata Projects Ltd. cRISIL - A1+ / IND - A1+ 0.52

GIc Housing Finance Ltd. cRISIL - A1+ / IcRA - A1+ 0.51

Volkswagen Finance Private Ltd. cRISIL - A1+ / IND - A1+ 0.51

Tata Motors Finance Solutions Ltd. cARE - A1+ / IcRA - A1+ 0.50

chambal Fertilizers & chemicals Ltd. IcRA - A1+ 0.48

IcIcI Bank Ltd. cRISIL - A1+ 0.48

Tata Realty and Infrastructure Ltd. IcRA - A1+ 0.46

Manappuram Finance Ltd. cARE - A1+ / cRISIL - A1+ 0.45

IIFL wealth Finance Ltd. IcRA - A1+ 0.44

Kotak Mahindra Bank Ltd. cRISIL - A1+ 0.44

TVS credit Services Ltd. IcRA - A1+ 0.41

PORTFOLIOKEY FACTS

January 2019 49



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 (%) ##




(`)##

Jan 24, 19 Last 7 days 6.96 7.31 9.44 10,013 10,014 10,018Jan 16, 19 Last 15 days 7.02 7.32 9.43 10,029 10,030 10,039Dec 31, 18 Last 1 Month 7.12 7.43 8.91 10,060 10,063 10,076Jan 31, 18 Last 1 Year 7.30 7.68 7.22 10,730 10,768 10,722Jan 31, 16 Last 3 Years 7.10 7.27 6.73 12,287 12,346 12,161Jan 31, 14 Last 5 Years 7.72 7.81 7.38 14,509 14,571 14,282Oct 17, 00 Since Inception 7.28 N.A. 6.39 36,181 N.A. 31,081

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.

SDL, T-Bills 22.61

cP 65.31

cD 13.22

credit Exposure 8.97



Sovereign 22.61AAA/AAA(SO)/A1+/A1+(SO) & equivalent 86.88AA+ 0.58AA/AA- 0.04cash, cash Equivalents and Net current Assets -10.11


(An open ended liquid scheme) .....Contd from previous pageHDFC Liquid Fund


Kotak Mahindra Prime Ltd. cRISIL - A1+ 0.38

Motilal Oswal Financial Services Ltd. IND - A1+ 0.38

MUFG Bank Ltd. IND - A1+ 0.38

United Spirits Ltd. IcRA - A1+ 0.38

Mahindra Rural Housing Finance Ltd. IND - A1+ 0.35

Aditya Birla Finance Ltd. IND - A1+ 0.32

Axis Finance Ltd. IND - A1+ 0.32

Julius Baer capital (India) Pvt. Ltd. IcRA - A1+ 0.30

H T Media Ltd. IcRA - A1+ 0.29

Redington (India) Ltd. IcRA - A1+ 0.26

TATA Housing Development company Ltd. cARE - A1+ 0.26

Aarti Industries Ltd. IND - A1+ 0.24

Godrej Properties Ltd. (Secured with shares of emami Ltd.) IcRA - A1+ 0.20

Turquoise Investments & Finance Pvt Ltd. cARE - A1+ 0.19

Deutsche Investments India Pvt. Ltd. cRISIL - A1+ 0.16

Reliance Industries Ltd. cRISIL - A1+ / IcRA - A1+ 0.16

Adani Transmission Ltd. IND - A1+ 0.13


cESc Ltd. IcRA - A1+ 0.13

Hinduja Leyland Finance Ltd cRISIL - A1+ 0.13

TVS Srichakra Ltd. cRISIL - A1+ 0.13

Magma Housing Finance cRISIL - A1+ 0.12

SBI Global Factors Ltd. cRISIL - A1+ 0.10

Aditya Birla Money Ltd. IND - A1+ 0.09

Fedbank Financial Services Ltd. cRISIL - A1+ 0.09

Bajaj electricals Ltd. IcRA - A1+ 0.06

export - Import Bank of India IcRA - A1+ 0.06

JM Financial Asset Reconstruction company Ltd. IcRA - A1+ 0.06

JM Financial Products Ltd. IcRA - A1+ 0.06

Tata Sons Ltd. cRISIL - A1+ 0.06


TGS Investment & Trade Pvt Ltd IND - A1+ 0.03

Kotak Mahindra Investments Ltd. cRISIL - A1+ 0.02

Sub Total 78.53


Grand Total 100.00


PORTFOLIO

50 January 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 2,784.4155Regular Plan - Daily Dividend Reinvestment Option 1,042.6600Direct Plan - Growth Option 2,794.5875Direct Plan - Daily Dividend Reinvestment Option 1,042.6600



qUANTiTATiVE DATA

Average Maturity * 1 dayMacaulay Duration * 1 dayModified Duration * 1 dayYield to Maturity * 6.39%* 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 (%) ##




(`)##

Jan 24, 19 Last 7 days 6.15 6.37 9.44 10,012 10,012 10,018Jan 16, 19 Last 15 days 6.18 6.44 9.43 10,025 10,026 10,039Dec 31, 18 Last 1 Month 6.16 6.40 8.91 10,052 10,054 10,076Jan 31, 18 Last 1 Year 6.16 6.21 7.22 10,616 10,621 10,722Jan 31, 16 Last 3 Years 6.12 6.20 6.73 11,954 11,978 12,161Jan 31, 14 Last 5 Years 6.74 6.88 7.38 13,860 13,950 14,282Feb 06, 02 Since Inception 6.21 N.A. 6.04 27,844 N.A. 27,094

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 January 31, 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

January 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

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 January 2019

SCHEME PERFORMANCE - REGULAR PLAN - GROWTH OPTION (FUND MANAGER-WISE)

SRINIvAS RAO RAvURI

HDFC EOF - II - 1126D MAy 2017 (1) NAv as on Jan 31, 2019 ` 9.9660


(%)

Benchmark Returns

(%)#


Returns (%) ##

value of ` 10,000 invested

Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year -7.61 -5.95 -0.35 9,239 9,405 9,965Jun 15, 17 Since Inception -0.21 5.62 9.27 9,966 10,931 11,555

# 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 Jan 31, 2019 ` 9.5870


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year -7.78 -5.95 -0.35 9,222 9,405 9,965Jul 17, 17 Since Inception -2.70 3.70 7.15 9,587 10,576 11,125


HDFC HOF - I - 1140D NOvEMBER 2017 (1) NAv as on Jan 31, 2019 ` 8.8090


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year -14.64 -10.22 -0.35 8,536 8,978 9,965Dec 06, 17 Since Inception -10.41 -1.01 8.14 8,809 9,884 10,944

# 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 Jan 31, 2019 ` 338.407


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year -6.29 2.06 -0.35 9,371 10,206 9,965Jan 29, 16 Last 3 Years 15.84 14.86 14.20 15,565 15,171 14,910Jan 31, 14 Last 5 Years 16.29 13.60 13.61 21,277 18,929 18,930Jan 02, 01 Since Inception 21.49 14.76 14.18 338,407 120,775 110,151

# 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 Jan 31, 2019 ` 13.7706


(%)

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 Jan 31, 2019 ` 12.5850


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 7.48 6.42 7.22 10,748 10,642 10,722Jan 29, 16 Last 3 Years 7.87 7.67 6.73 12,559 12,490 12,166Jan 12, 16 Since Inception 7.82 7.59 6.73 12,585 12,506 12,201

# 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 Jan 31, 2019 ` 12.5370


(%)

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.

January 2019 53




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 9.45 6.42 7.22 10,945 10,642 10,722Mar 04, 16 Since Inception 9.60 7.79 6.71 13,061 12,443 12,081




(%)

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 Jan 31, 2019 ` 11.2172


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 6.78 6.42 7.22 10,678 10,642 10,722Apr 11, 17 Since Inception 6.56 5.64 6.49 11,217 11,044 11,203




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1166D MAy 2017 (1) NAv as on Jan 31, 2019 ` 11.3139


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 7.31 6.42 7.22 10,731 10,642 10,722May 09, 17 Since Inception 7.39 5.65 6.66 11,314 10,998 11,181


HDFC FMP 1136D JUNE 2017 (1) NAv as on Jan 31, 2019 ` 11.1827


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 7.21 6.42 7.22 10,721 10,642 10,722Jun 08, 17 Since Inception 7.01 4.48 6.65 11,183 10,749 11,120


HDFC FMP 1430D JULy 2017 (1) NAv as on Jan 31, 2019 ` 10.8627


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 6.82 6.42 7.22 10,682 10,642 10,722Aug 01, 17 Since Inception 5.67 4.03 6.67 10,863 10,611 11,018


ANIL BAMBOLI

HDFC CHARITy FUND FOR CANCER CURE - DEBT PLAN^

NAv as on Jan 31, 2019 ` 10.3832


(%)

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 Jan 31, 2019 ` 15.6305


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 6.07 6.42 7.22 10,607 10,642 10,722Jan 29, 16 Last 3 Years 6.95 7.67 6.73 12,240 12,490 12,166Jan 31, 14 Last 5 Years 8.20 9.10 7.38 14,832 15,461 14,282Aug 14, 13 Since Inception 8.51 9.15 7.52 15,631 16,143 14,868

# 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 January 2019




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 8.04 6.42 7.22 10,804 10,642 10,722Jan 29, 16 Last 3 Years 7.77 7.67 6.73 12,523 12,490 12,166Feb 05, 14 Since Inception 9.35 9.05 7.40 15,617 15,408 14,276

# 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 Jan 31, 2019 ` 12.1607


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 8.38 6.42 7.22 10,838 10,642 10,722Sep 15, 16 Since Inception 8.57 5.99 6.54 12,161 11,484 11,625




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1218D DECEMBER 2016 (1) NAv as on Jan 31, 2019 ` 11.5532


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 7.61 6.42 7.22 10,761 10,642 10,722Jan 12, 17 Since Inception 7.29 4.72 6.40 11,553 10,992 11,358




(%)

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 (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



ANIL BAMBOLI....CONTINUED



January 2019 55


KRISHAN KUMAR DAGA

HDFC GOLD EXCHANGE TRADED FUND* NAv as on Jan 31, 2019 ` 3036.381

Date Period Scheme Returns (%)

Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Jan 31, 18 Last 1 Year 8.55 9.82 10,855 10,982Jan 29, 16 Last 3 Years 6.24 7.43 11,996 12,407Jan 31, 14 Last 5 Years 2.66 3.79 11,402 12,046Aug 13, 10 Since Inception 6.36 7.18 16,866 18,002

# 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 Jan 31, 2019 ` 10.759


Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Jan 31, 18 Last 1 Year 8.33 9.82 10,833 10,982Jan 29, 16 Last 3 Years 6.02 7.43 11,923 12,407Jan 31, 14 Last 5 Years 0.78 3.79 10,395 12,046nov 01, 11 Since Inception 1.01 2.86 10,759 12,267

# 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 Jan 31, 2019 ` 10.201


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jan 31, 18 Last 1 Year 6.14 4.85 -0.35 10,614 10,485 9,965Mar 27, 17 Since Inception 6.40 4.65 11.72 11,216 10,878 12,274

# 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 (`)#


(`)##Jan 31, 18 Last 1 Year 7.72 6.42 7.22 10,772 10,642 10,722Mar 16, 16 Since Inception 7.74 7.67 6.71 12,395 12,371 12,055

# 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.



(%)

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(%)#


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(%)

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(%)#


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Scheme (`)

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(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jan 31, 18 Last 1 Year 7.26 6.42 7.22 10,726 10,642 10,722Apr 21, 16 Since Inception 7.41 7.25 6.63 12,199 12,149 11,955




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jan 31, 18 Last 1 Year 7.64 6.42 7.22 10,764 10,642 10,722May 31, 16 Since Inception 8.75 7.28 6.66 12,512 12,064 11,879




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jan 31, 18 Last 1 Year 7.67 6.42 7.22 10,767 10,642 10,722May 05, 16 Since Inception 8.78 7.25 6.64 12,595 12,116 11,928




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jan 31, 18 Last 1 Year 7.52 6.42 7.22 10,752 10,642 10,722Jun 08, 16 Since Inception 7.68 7.29 6.64 12,167 12,049 11,858




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#






56 January 2019




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jan 31, 18 Last 1 Year 7.21 6.42 7.22 10,721 10,642 10,722Jul 07, 16 Since Inception 7.55 6.97 6.60 12,056 11,891 11,786




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 8.46 6.42 7.22 10,846 10,642 10,722Jul 27, 16 Since Inception 8.60 6.57 6.57 12,306 11,737 11,736


CO-MANAGED By MITEN LATHIA & ANIL BAMBOLI

HDFC DyNAMIC PE RATIO FUND OF FUNDS NAv as on Jan 31, 2019 ` 17.8843


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year -3.61 2.18 -0.35 9,639 10,218 9,965Jan 29, 16 Last 3 Years 11.69 12.00 14.20 13,947 14,063 14,910Jan 31, 14 Last 5 Years 9.51 12.11 13.61 15,750 17,716 18,930Feb 06, 12 Since Inception 8.67 10.85 11.98 17,884 20,539 22,053

# 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 Jan 31, 2019 ` 12.1729


(%)

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 Jan 31, 2019 ` 11.7832


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - II - 1111D APRIL 2016 NAv as on Jan 31, 2019 ` 11.7647


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - III - 1304D AUGUST 2016 NAv as on Jan 31, 2019 ` 11.3551


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - III - 1267D OCTOBER 2016 NAv as on Jan 31, 2019 ` 11.1749


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 4.02 4.24 7.22 10,402 10,424 10,722Oct 25, 16 Since Inception 5.02 8.85 6.45 11,175 12,120 11,522


HDFC DAF - III - 1224D NOvEMBER 2016 NAv as on Jan 31, 2019 ` 11.1020


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 4.03 5.31 7.22 10,403 10,531 10,722Dec 07, 16 Since Inception 4.98 8.82 6.42 11,102 11,994 11,431



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

January 2019 57

SCHEME PERFORMANCE - DIRECT PLAN - GROWTH OPTION (FUND MANAGER-WISE)

PRASHANT JAIN

HDFC EQUITy FUND NAv as on Jan 31, 2019 ` 661.059


(%)

Benchmark Returns

(%)#


Returns (%) ##

value of ` 10,000 invested Scheme

(`)Benchmark

(`)#Additional

Benchmark (`)##

Jan 31, 18 Last 1 Year -5.51 -5.95 -0.35 9,449 9,405 9,965Jan 29, 16 Last 3 Years 16.71 13.80 14.20 15,917 14,753 14,910Jan 31, 14 Last 5 Years 17.77 15.15 13.61 22,668 20,256 18,930Jan 01, 13 Since Inception 14.06 12.23 11.71 22,267 20,175 19,622

# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index).

HDFC TOP 100 FUND NAv as on Jan 31, 2019 ` 485.408


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##

Jan 31, 18 Last 1 Year -2.53 -2.11 2.06 9,747 9,789 10,206Jan 29, 16 Last 3 Years 16.75 14.34 14.86 15,935 14,965 15,171Jan 31, 14 Last 5 Years 16.61 14.45 13.60 21,575 19,648 18,929Jan 01, 13 Since Inception 13.15 12.24 12.21 21,202 20,192 20,160

# nIFTY 100 (Total Returns Index) ## S&P BSE SEnSEx (Total Returns Index).

HDFC BALANCED ADvANTAGE FUND NAv as on Jan 31, 2019 ` 194.416


(%)

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 Jan 31, 2019 ` 76.720


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##



HDFC GROWTH OPPORTUNITIES FUND NAv as on Jan 31, 2019 ` 108.213


(%)

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 Jan 31, 2019 ` 513.097


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



CHIRAG SETALvAD

HDFC MID-CAP OPPORTUNITIES FUND NAv as on Jan 31, 2019 ` 53.918


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY Midcap 100 (Total Returns Index) ## nIFTY 50 (Total Returns Index).

HDFC SMALL CAP FUND NAv as on Jan 31, 2019 ` 44.405


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY Smallcap 100 (Total Returns Index) ## nIFTY 50 (Total Returns Index).

HDFC HyBRID EQUITy FUND NAv as on Jan 31, 2019 ` 53.178


(%)

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 Jan 31, 2019 ` 121.443


(%)

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 Jan 31, 2019 ` 350.740


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# S&P BSE SEnSEx (Total Returns Index) ## nIFTY 50 (Total Returns Index).


DIRECT PLAN - GROWTH OPTION NAv as on Dec 31, 2018 ` 000

58 January 2019


SRINIvAS RAO RAvURI

HDFC EOF - II - 1126D MAy 2017 (1) NAv as on Jan 31, 2019 ` 10.2090


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year -6.32 -5.95 -0.35 9,368 9,405 9,965Jun 15, 17 Since Inception 1.28 5.62 9.27 10,209 10,931 11,555


HDFC EOF - II - 1100D JUNE 2017 (1) NAv as on Jan 31, 2019 ` 9.8600


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year -6.10 -5.95 -0.35 9,390 9,405 9,965Jul 17, 17 Since Inception -0.91 3.70 7.15 9,860 10,576 11,125


HDFC INFRASTRUCTURE FUND NAv as on Jan 31, 2019 ` 16.050


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC HOF - I - 1140D NOvEMBER 2017 (1) NAv as on Jan 31, 2019 ` 8.9910


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year -13.10 -10.22 -0.35 8,690 8,978 9,965Dec 06, 17 Since Inception -8.81 -1.01 8.14 8,991 9,884 10,944

# 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 Jan 31, 2019 ` 41.4360


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 4.90 6.42 7.16 10,490 10,642 10,716Jan 29, 16 Last 3 Years 7.15 7.67 6.58 12,307 12,490 12,113Jan 31, 14 Last 5 Years 8.70 9.10 8.10 15,180 15,461 14,764Jan 01, 13 Since Inception 7.64 8.19 6.61 15,653 16,141 14,761

# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index.

HDFC MEDIUM TERM DEBT FUND NAv as on Jan 31, 2019 ` 37.4819


(%)

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 Jan 31, 2019 ` 32.2323


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Liquid Fund Index ## CRISIL 1 year T-Bill Index.

HDFC CREDIT RISK DEBT FUND NAv as on Jan 31, 2019 ` 15.6477


(%)

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 (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


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Scheme (`)

Benchmark (`)#


(`)##





January 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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Scheme (`)

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(`)##





(%)

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Scheme (`)

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(`)##





(%)

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(`)##





(%)

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(%)#


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Scheme (`)

Benchmark (`)#


(`)##






60 January 2019




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 6.93 6.42 7.22 10,693 10,642 10,722Aug 01, 17 Since Inception 5.77 4.03 6.67 10,879 10,611 11,018


KRISHAN KUMAR DAGA

HDFC ARBITRAGE FUND - WHOLESALE PLAN NAv as on Jan 31, 2019 ` 13.838


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 6.10 4.85 -0.35 10,610 10,485 9,965Jan 29, 16 Last 3 Years 6.44 5.14 14.20 12,065 11,628 14,910Apr 07, 14 Since Inception 6.97 6.24 11.90 13,838 13,387 17,200

# 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 Jan 31, 2019 ` 323.9026


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 1.70 2.06 -0.35 10,170 10,206 9,965Jan 29, 16 Last 3 Years 14.56 14.86 14.20 15,052 15,171 14,910Jan 31, 14 Last 5 Years 13.23 13.60 13.61 18,622 18,929 18,930Jan 01, 13 Since Inception 11.88 12.21 11.71 19,794 20,160 19,622

# 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 Jan 31, 2019 ` 99.1384


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC GOLD FUND NAv as on Jan 31, 2019 ` 11.0105


Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Jan 31, 18 Last 1 Year 8.82 9.82 10,882 10,982Jan 29, 16 Last 3 Years 6.50 7.43 12,086 12,407Jan 31, 14 Last 5 Years 1.20 3.79 10,616 12,046Jan 01, 13 Since Inception -0.07 1.43 9,957 10,901

# 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 Jan 31, 2019 ` 10.201


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 6.14 4.85 -0.35 10,614 10,485 9,965Mar 27, 17 Since Inception 6.40 4.65 11.72 11,216 10,878 12,274

# 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 Jan 31, 2019 ` 3635.2408


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 24, 19 Last 7 days 7.06 7.31 9.44 10,014 10,014 10,018Jan 16, 19 Last 15 days 7.12 7.32 9.43 10,029 10,030 10,039Dec 31, 18 Last 1 Month 7.22 7.43 8.91 10,061 10,063 10,076Jan 31, 18 Last 1 Year 7.41 7.68 7.22 10,741 10,768 10,722Jan 31, 16 Last 3 Years 7.21 7.27 6.73 12,324 12,346 12,161Jan 31, 14 Last 5 Years 7.81 7.81 7.38 14,567 14,571 14,282Dec 31, 12 Since Inception 8.08 8.02 7.13 16,049 15,997 15,208

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 Jan 31, 2019 ` 20.4744


(%)

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 Jan 31, 2019 ` 40.2575


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

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(%)#


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Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##






January 2019 61


ANUPAM JOSHI....CONTINUED



(%)

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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 Jan 31, 2019 ` 62.1014


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index.

HDFC SHORT TERM DEBT FUND NAv as on Jan 31, 2019 ` 20.4658


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC GILT FUND NAv as on Jan 31, 2019 ` 37.5657


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Dynamic Gilt Index ## CRISIL 10 year Gilt Index.

HDFC BANKING AND PSU DEBT FUND NAv as on Jan 31, 2019 ` 14.9194


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





62 January 2019


HDFC MONEy MARKET FUND NAv as on Jan 31, 2019 ` 3859.7657


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 7.73 7.68 7.22 10,773 10,768 10,722Jan 31, 16 Last 3 Years 7.33 7.27 6.73 12,365 12,346 12,161Jan 31, 14 Last 5 Years 7.88 7.81 7.38 14,613 14,571 14,282Dec 31, 12 Since Inception 8.12 8.02 7.13 16,088 15,997 15,208


HDFC OvERNIGHT FUND NAv as on Jan 31, 2019 ` 2794.5875


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 24, 19 Last 7 days 6.25 6.37 9.44 10,012 10,012 10,018Jan 16, 19 Last 15 days 6.28 6.44 9.43 10,026 10,026 10,039Dec 31, 18 Last 1 Month 6.26 6.40 8.91 10,053 10,054 10,076Jan 31, 18 Last 1 Year 6.24 6.21 7.22 10,624 10,621 10,722Jan 31, 16 Last 3 Years 6.19 6.20 6.73 11,975 11,978 12,161Jan 31, 14 Last 5 Years 6.81 6.88 7.38 13,902 13,950 14,282Dec 31, 12 Since Inception 7.06 7.14 7.13 15,151 15,219 15,208

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 Jan 31, 2019 ` 10.3832


(%)

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 Jan 31, 2019 ` 15.8921


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 6.41 6.42 7.22 10,641 10,642 10,722Jan 29, 16 Last 3 Years 7.28 7.67 6.73 12,353 12,490 12,166Jan 31, 14 Last 5 Years 8.53 9.10 7.38 15,059 15,461 14,282Aug 14, 13 Since Inception 8.84 9.15 7.52 15,892 16,143 14,868

# 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 (`)#


(`)##


# 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 (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1218D DECEMBER 2016 (1) NAv as on Jan 31, 2019 ` 11.6643


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##






January 2019 63




(%)

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 (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



MITEN LATHIA

HDFC CAPITAL BUILDER vALUE FUND NAv as on Jan 31, 2019 ` 294.507


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



CO-MANAGED By PRASHANT JAIN & SHOBHIT MEHROTRA

HDFC HyBRID DEBT FUND NAv as on Jan 31, 2019 ` 45.8214


(%)

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 Jan 31, 2019 ` 18.801


(%)

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 Jan 31, 2019 ` 31.8470


(%)

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 Jan 31, 2019 ` 37.6280


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 1.72 4.11 -0.35 10,172 10,411 9,965Jan 29, 16 Last 3 Years 12.79 8.68 14.20 14,363 12,846 14,910Jan 31, 14 Last 5 Years 10.96 9.23 13.61 16,827 15,555 18,930Jan 01, 13 Since Inception 10.01 8.87 11.71 17,874 16,771 19,622

# 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 January 2019


CO-MANAGED By KRISHAN KUMAR DAGA & ANIL BAMBOLI

HDFC DAF - II - 1160D JANUARy 2016 NAv as on Jan 31, 2019 ` 12.7536


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - II - 1099D MARCH 2016 NAv as on Jan 31, 2019 ` 12.3661


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - II - 1111D APRIL 2016 NAv as on Jan 31, 2019 ` 12.2311


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - III - 1304D AUGUST 2016 NAv as on Jan 31, 2019 ` 11.8066


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - III - 1267D OCTOBER 2016 NAv as on Jan 31, 2019 ` 11.6347


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 5.73 4.24 7.22 10,573 10,424 10,722Oct 25, 16 Since Inception 6.90 8.85 6.45 11,635 12,120 11,522


HDFC DAF - III - 1224D NOvEMBER 2016 NAv as on Jan 31, 2019 ` 11.5267


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 5.87 5.31 7.22 10,587 10,531 10,722Dec 07, 16 Since Inception 6.83 8.82 6.42 11,527 11,994 11,431


CO-MANAGED By CHIRAG SETALvAD & SHOBHIT MEHROTRA

HDFC RETIREMENT SAvINGS FUND - EQUITy PLAN

NAv as on Jan 31, 2019 ` 17.006


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year -6.03 -5.95 -0.35 9,397 9,405 9,965Feb 25, 16 Since Inception 19.84 17.54 17.80 17,006 16,067 16,173


HDFC RETIREMENTSAvINGS FUND - HyBRID EQUITy PLAN

NAv as on Jan 31, 2019 ` 16.790


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jan 31, 18 Last 1 Year 0.09 2.18 -0.35 10,009 10,218 9,965Feb 25, 16 Since Inception 19.32 14.46 17.80 16,790 14,864 16,173

# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index).

HDFC RETIREMENT SAvINGS FUND - HyBRID DEBT PLAN

NAv as on Jan 31, 2019 ` 13.3910


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Hybrid Composite Debt 15:85 Index ## CRISIL 10 Year Gilt Index.



Managing Portfolio Since

Returns (%) (As on January 31, 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 -1.35 n.A. n.A.

Benchmark- MSCI India (Total Returns) -2.08 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)

January 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 (`)




Feb 25, 16 23.429 2.75 2.75 23.920 2.75 2.75Mar 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 3.50

HDFC Focused 30 Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Feb 25, 16 16.580 2.00 2.00 16.988 2.00 2.00Mar 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 2.25

HDFC Arbitrage Fundnormal Dividend Option (Past 3 months)

Record Date Wholesale Plan Direct Plan

Cum Div NAv (`)




nov 22, 18 10.468 0.050 0.050 10.816 0.050 0.050Dec 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 0.050

Monthly Dividend Option (Past 3 months)

Record Date Wholesale Plan Wholesale Plan - Direct Plan

Cum Div NAv (`)




nov 22, 18 10.879 0.050 0.050 10.542 0.050 0.050Dec 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 0.050

HDFC Growth Opportunities Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Feb 18, 16 - - - 19.186 1.75 1.75Feb 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 2.25

HDFC Mid-Cap Opportunities Fund (Past 3 years) Dividend Option


Cum Div NAv (`)




Mar 23, 16 25.133 1.50 1.50 28.582 1.50 1.50Mar 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 3.00

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 (`)




nov 26, 18 28.933 0.310 0.310 30.368 0.310 0.310Dec 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 0.310

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 (`)




nov 26, 18 13.1282 0.0800 0.0741 13.6555 0.0800 0.0741Dec 26, 18 - - - 13.7799 0.0800 0.0741Jan 25, 19 13.0436 0.0800 0.0741 13.5880 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 January 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 (`)




nov 26, 18 1032.2820 4.3090 3.9901 1032.3610 4.3659 4.0428Dec 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 3.8000

HDFC Floating Rate Debt FundMonthly Dividend Option (Past 3 months)

Record Date Wholesale Option Wholesale Option - Direct Plan

Cum Div NAv (`)




nov 26, 18 10.2162 0.0519 0.0481 10.2173 0.0527 0.0488Dec 31, 18 - - - 10.2385 0.0680 0.0630Jan 28, 19 10.2111 0.0483 0.0447 10.2123 0.0491 0.0455

Record Date Retail Option

Cum Div NAv (`)


Individuals & HUF Others

nov 26, 18 10.2145 0.0507 0.0470Dec 31, 18 10.2351 0.0655 0.0607Jan 28, 19 10.2095 0.0471 0.0436

HDFC Low Duration FundMonthly Dividend Option (Past 3 months)

Record Date Retail Option Retail Option - Direct Plan

Cum Div NAv (`)




nov 26, 18 10.2093 0.0499 0.0462 10.2166 0.0534 0.0494Dec 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 0.0452

Record Date Wholesale Option

Cum Div NAv (`)


Individuals & HUF Others

nov 26, 18 10.2339 0.0532 0.0493Dec 31, 18 10.2564 0.0694 0.0643Jan 28, 19 10.2275 0.0486 0.0450

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 (`)




nov 26, 18 10.1175 0.0486 0.0450 10.1202 0.0506 0.0468Dec 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 0.0446

January 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)

particularly or the ability of the nIFTY Indices to track general stock market performance in India. The relationship of IISL with HDFC Asset Management Company Limited (“the Issuer/Licensee”) is only in respect of

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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

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