june 2019 · 2019-07-16 · june 2019 3 equity market update i n june 2019, indian equity markets...

June 2019

2 June 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

June 2019 3

Equity Market Update

In June 2019, Indian equity markets corrected by ~1% driven by concerns over domestic growth, slowdown in discretionary consumption expenditure and credit concerns with default of major NBFC. Midcap and small cap indices also fell significantly, wiping off more than the gain registered in last month. Sectoral indices performance was mixed with Metal & Utilities were the best performing sectors whereas Oil & Gas, Healthcare and Auto underperformed.

Contrary to India, performance of global equity markets was relatively strong. All major indices in US, Europe and major Asian markets delivered positive returns in the month and recovered most of the losses of last month. This was primarily on optimism around easing trade war tensions between US and China and due to most global central banks turning dovish.

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

% Change in Indices FY 2019 1M FYTD 2020

S&P BSE India Auto (21.7) (2.9) (4.9)S&P BSE India Bankex 25.5 (0.8) 2.4S&P BSE India Capital Goods (0.0) (0.4) 7.5S&P BSE India FMCG 14.1 (1.4) (3.2)S&P BSE India Healthcare 9.5 (3.1) (10.5)S&P BSE India Metal (14.8) 3.3 (2.2)S&P BSE India Power (4.3) 4.2 2.9S&P BSE India Oil & Gas 4.5 (5.9) (3.1)S&P BSE India IT 26.3 (0.8) 2.4S&P BSE SENSEX 17.3 (0.8) 1.9NIFTY 50 14.9 (1.1) 1.4NIFTY Midcap 100 (2.7) (1.7) (3.3)NIFTY Smallcap (14.4) (5.3) (7.1)

% Change in Indices

FY 2019 1M FYTD

2020

S&P 500 7.3 6.9 3.8FTSE 3.2 3.7 2.0DAX (4.7) 5.7 7.6CAC 3.5 6.4 3.5Nikkei (1.2) 3.3 0.3Hang Seng (3.5) 6.1 (1.8)KOSPI (12.5) 4.4 (0.5)Shanghai (2.5) 2.8 (3.6)MSCI Emerging Market Index (9.6) 5.7 (0.3)

During the month, Brent crude prices increased by ~3.2% and closed the month at $ 66.6 per barrel on back of rise in tensions between US and Iran. Further, most major commodities prices recovered during the month on back of optimism over easing trade tensions as well as expectation of easing monetary policy by major global central banks. Zinc prices fell due to tepid demand and some improvement in supply.

% Change in Indices FY 2019 1M FYTD 2020Brent Crude (2.7) 3.2 (2.7)Gold (2.5) 8.0 6.3Steel 1.2 (0.6) 1.6Zinc (10.0) (3.9) (22.6)Copper (3.0) 3.3 (10.7)Aluminium (4.7) 0.4 (10.4)Lead (16.1) 7.4 (20.6)

Most currencies appreciated against USD in the month on account of the expectation of rate cut and accommodative monetary stance by US Federal Reserve. INR ended the month at 69.0 vs USD, up ~1% month on month supported by stable FII flows and range bound oil prices.

Although the pace of buying moderated, FPIs remained net buyers of equity for five months in a row and bought equity worth $ 0.4 billion in June 2019. Total FPI’s Equity inflows in H1CY19 have been close to $ 11.3 billion as against outflow of $ 0.9 billion in H1CY18. Equity oriented mutual funds inflows improved slightly in May. Net inflows in domestic equity oriented mutual funds in May 2019 and CYTD19 were ~Rs 39 billion and ~Rs 217 billion respectively.

NIFTY 50 is trading near 19.2x FY20 (e) and 16.3x FY21 (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. With the sharp decline in midcaps and smallcaps stocks over the past 15 months, significant divergence with large caps is not likely going forward. Adverse global events, rise in crude oil prices, sharp moderation in equity oriented mutual funds flows, 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 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).

Market Review

Source for various data points: Bloomberg, NSDL, CMIE, RBI, Kotak Institutional Research

Debt Market Update

The yield on 10-year benchmark Gsec (7.26 GoI 2029) ended the month of June 2019 at 6.88%, down by 15 bps over the previous month end. The table below gives a summary view of movement of key rates & liquidity.

May-19 Jun-19 Change (%)

10Yr G-Sec Yield (%, 7.26 GoI 2029) 7.03 6.88 -0.15AAA 10Yr Corporate Bond Yields (%) 8.04 7.84 -0.20AAA 10Y corporate bond spread against 7.26 GS 2029 Yield# (bps) 88 85 -0.03Average liquidity absorbed/(infused) by RBI* (INR billion) (approx.) -361 442MIBOR Overnight Rate (%) 6.00 5.97 -10

*Average daily liquidity infused / absorbed through Liquidity Adjustment Facility, exports refinance, marginal standing facility and term repos/reverse repos.# annualised yields.

To support liquidity, RBI conducted purchases under open market operations of INR 275 billion in June 2019, higher than planned purchases of INR 150 billion. Average liquidity turned positive due to higher central government spending, forex purchases by RBI and tepid growth in currency in circulation.

Net FII debt inflows improved to $ 1.2 billion during the month, compared to net inflows of $ 0.2 billion in May 2019. In first half of CY19, aggregate net FII debt inflows were close to $ 1.3 billion as against outflows of US$ 6.1 billion in the corresponding period a year ago. INR ended the month at 69.0, a m-o-m appreciation of ~1.0% against USD primarily due better capital flows and range bound oil prices.

Annual rate of retail inflation, CPI increased marginally to 3.05% in May 2019, up by only ~6 bps m-o-m led by sequential rise in food (mainly vegetables, pulses, meat & fish, sugar). Fuel inflation was largely stable. Core CPI (CPI excluding food, fuel, transportation & housing) moderated significantly on m-o-m basis to 4.5% (down from 5.1% a month ago) on account of broad based moderation in inflation led by clothing & footwear, personal care and household services.

For the month (%) Apr-19 May-19 Change in %CPI 2.99 3.05 0.06Food & beverages 1.38 2.03 0.65Fuel and Light 2.56 2.48 -0.08Housing 4.76 4.82 0.06Core CPI 5.14 4.53 -0.61

India’s trade deficit for May 2019 remained largely stable at $ 15.35 billion, marginally up from $ 15.33 billion a month ago, primarily on account of higher imports of engineering goods, chemicals, mobiles etc. largely offset by growth in exports of transport equipments, textiles etc. and lower net oil and gold imports.

Amount in USD million Apr-19 May-19 Change (%)Trade Deficit 15,330 15,347 0.1%Net Oil imports 7,703 7,284 -5.4%Net Gold imports* 3,500 3,423 -2.2%Trade deficit ex oil & gold 4,128 4,639 12.4%

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

GST collection for the month of June 2019 (for the month of May 2019) stood to INR 999.4 billion, ~1.9% higher than FY19 average monthly collection and up ~4.5% YoY. The average monthly collection required to meet the budgeted target for FY20 is estimated to be around INR 1,100 to 1,200 billion per month.

Outlook

The Monetary Policy Committee (MPC) minutes released for its meeting held in June 2019 were slightly dovish than expected and highlighted concerns over slowdown in economic activities. Given the near term inflation outlook remains benign and growth is moderating, it could provide some space for further policy easing. However, any future action by RBI is likely to be data dependent and we maintain that this rate cut cycle is likely to be a shallow one, in our opinion.

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 at longer end. While the near term inflation outlook remains benign due to muted food prices and range bound oil prices, we prefer to maintain a cautious stance. This is due to weak progress of monsoon, credit growth outpacing deposit growth and likely fiscal pressures.

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.

4 June 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 ............................ 27-28

HDFc Retirement Savings Fund - Hybrid Debt Plan .............................. 29

PAGE NO.

REgUlAR iNCOME

HDFc Equity Savings Fund ................................................................. 30-31

HDFc Hybrid Debt Fund ..................................................................... 32-33

HDFc Arbitrage Fund ......................................................................... 34-35

HDFc corporate Bond Fund ............................................................... 36

HDFc credit Risk Debt Fund ............................................................... 37-38

HDFc Banking and PSU Debt Fund ..................................................... 39

HDFc Gilt Fund.................................................................................. 40

HDFc Dynamic Debt Fund .................................................................. 41

HDFc Income Fund ........................................................................... 42

HDFc Medium Term Debt Fund .......................................................... 43

HDFc Short Term Debt Fund .............................................................. 44

HDFc Low Duration Fund ................................................................... 45

HDFc Money Market Fund ................................................................. 46

HDFc Floating Rate Debt Fund ........................................................... 47

HDFc Ultra Short Term Fund .............................................................. 48

HDFc Liquid Fund .............................................................................. 49-50

HDFc Overnight Fund ........................................................................ 51

Performance details of schemes managed by respective fund managers ............................................. 52

Scheme performance summary - Regular Plans ................................. 53-57

Scheme performance summary - Direct Plans .................................... 58-65

Performance of category I - FPI Portfolio ........................................... 65

Dividend History ............................................................................... 66-67

Disclaimer ....................................................................................... 68

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.

June 2019 5

SiP PERFORMANCE ^ - Regular plan - growth OptionSince Inception

SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 2,940.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) 76,228.01 6,430.88 2,423.95 808.14 432.89 131.64 Returns (%) 21.79 15.50 13.50 11.90 12.43 18.83 Benchmark Returns (%) # 14.64 12.39 11.83 10.35 9.23 7.56 Additional Benchmark Returns (%) ## N.A. 12.54 11.85 11.67 12.78 12.43

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 June 30, 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 (`)##

Jun 29, 18 Last 1 Year 18.34 6.63 11.39 11,834 10,663 11,139Jun 30, 16 Last 3 Years 15.04 12.80 13.93 15,212 14,343 14,777Jun 30, 14 Last 5 Years 10.57 10.64 10.53 16,521 16,575 16,490Jan 01, 95 Since Inception 18.93 11.50 N.A. 699,933 143,988 N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. For performance of other schemes managed by Prashant Jain, please refer page 52. 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. For FPI Portfolio, refer page no. 65.

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 9.84

• IcIcI Bank Ltd. Banks 9.83

• Larsen and Toubro Ltd. construction Project 8.46

• Infosys Ltd. Software 8.24

• Reliance Industries Ltd. Petroleum Products 4.87

• NTPc Ltd. Power 4.59

• HDFc Bank Ltd. Banks 4.32

• ITc Ltd. consumer Non Durables 3.25

• Tata consultancy Services Ltd. Software 3.12

• Power Finance corporation Ltd. Finance 3.01

Bharat Petroleum corporation Ltd. Petroleum Products 2.96

Axis Bank Ltd. Banks 2.82

coal India Ltd. Minerals/Mining 2.63

Rural electrification corporation Ltd. Finance 2.54

Bank of Baroda Banks 2.35

Tata Steel Ltd. Ferrous Metals 2.04

cESc Ltd. Power 1.94

Power Grid corporation of India Ltd. Power 1.64

Kalpataru Power Transmission Ltd. Power 1.54

Housing Development Finance corporation Ltd. £ Finance 1.50

Aurobindo Pharma Ltd. Pharmaceuticals 1.40

GAIL (India) Ltd. Gas 1.32

Vedanta Ltd. Non - Ferrous Metals 1.31

cipla Ltd. Pharmaceuticals 1.18

Tata chemicals Ltd. chemicals 1.17

canara Bank Banks 1.13

Siemens Ltd. Industrial capital Goods 0.97

Bharat Heavy electricals Ltd. Industrial capital Goods 0.91

L&T Technology Services Ltd. Software 0.89

Shriram Transport Finance company Ltd. Finance 0.88

Praj Industries Ltd. Industrial capital Goods 0.87

Oracle Financial Ser Software Ltd. Software 0.83Punjab National Bank Banks 0.80BeML Ltd. Industrial capital Goods 0.70Bharat Dynamics Ltd. Aerospace & Defence 0.60


cG Power and Industrial Solutions Ltd. Industrial capital Goods 0.41Time Technoplast Ltd. Industrial Products 0.38Oriental Bank of commerce Banks 0.33InterGlobe Aviation Ltd. Transportation 0.30Simplex Infrastructures Ltd. construction 0.23Hindustan construction company Ltd. construction Project 0.19Ramco Systems Ltd. Software 0.12Sub Total 98.41Preference SharesZee entertainment enterprises Ltd. Media & entertainment 0.01Sub Total 0.01Total 98.42cash margin 0.04cash, cash Equivalents and Net current Assets 1.54

Grand Total 100.00

• Top Ten Holdings, £ co-sponsor

PORTFOLIO

Industry Allocation of Equity Holding (% of Net Assets)

0.010.230.300.380.601.171.311.322.042.582.633.253.86

7.837.938.659.71

13.2031.42

0 5 10 15 20 25 30 35Media & Entertainment

ConstructionTransportation

Industrial ProductsAerospace & Defence

ChemicalsNon - Ferrous Metals

GasFerrous Metals

PharmaceuticalsMinerals/Mining

Consumer Non DurablesIndustrial Capital Goods

Petroleum ProductsFinance

Construction ProjectPower

SoftwareBanks

KEY FACTS

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.

FUND MANAgER § ¥

Prashant Jain (since June 20, 2003)

Total Experience: Over 27 years

iNCEPTiON DATE (Date of Allotment)

January 1, 1995

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

Regular Plan - Growth Option 699.933Regular Plan - Dividend Option 52.884Direct Plan - Growth Option 736.762Direct Plan - Dividend Option 56.887

ASSETS UNDER MANAgEMENT (`) iN CRORE

As on June 30, 2019 23,688.04Average for Month of June, 2019 23,241.33

qUANTiTATiVE DATA

Portfolio Turnover Ratio (Last 1 year) 17.47%

Risk Ration Standard Deviation 4.279%n Beta 1.019n Sharpe Ratio* 0.178

computed for the 3-yr period ended June 30, 2019. Based on month-end NAV. * Risk free rate: 5.97%(Source: FIMMDA MIBOR)

TOTAL ExPENSE RATIO (As on June 30, 2019)Including Additional expenses and Goods and Service Tax on Management Fees

Regular: 1.78% Direct: 1.26%

#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 52.

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).

CATEgORY OF SCHEME: MULTI-cAP FUND

6 June 2019

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) 3,050.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) 43,498.80 5,908.65 2,407.90 758.04 396.85 120.66 Returns (%) 17.38 14.52 13.37 9.32 6.47 1.04 Benchmark Returns (%) # N.A. 12.39 11.83 10.35 9.23 7.56 Additional Benchmark Returns (%) ## N.A. 12.54 11.85 11.67 12.78 12.43

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 (`)#


(`)##Jun 29, 18 Last 1 Year 1.32 6.63 11.39 10,132 10,663 11,139Jun 30, 16 Last 3 Years 11.83 12.80 13.93 13,978 14,343 14,777Jun 30, 14 Last 5 Years 11.57 10.64 10.53 17,281 16,575 16,490Feb 01, 94 Since Inception 14.19 N.A. N.A. 291,375 N.A. N.A.

Returns greater than 1 year period are compounded annualized (cAGR). N.A. Not Available. For performance of other schemes managed by Miten Lathia, please refer page 52. 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 to generate long-term capital appreciation / income in the long term

l investment primarily in undervalued stocks

Riskometer



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



• HDFc Bank Ltd. Banks 9.63• Axis Bank Ltd. Banks 5.23• Reliance Industries Ltd. Petroleum Products 4.28• IcIcI Bank Ltd. Banks 3.94• ITc Ltd. consumer Non Durables 3.91• Kotak Mahindra Bank Ltd. Banks 3.91• Bharat Petroleum

corporation Ltd. Petroleum Products 3.41• Larsen and Toubro Ltd. construction Project 3.39• Vedanta Ltd. Non - Ferrous Metals 3.29• Infosys Ltd. Software 2.96GAIL (India) Ltd. Gas 2.72Indusind Bank Ltd. Banks 2.47Persistent Systems Ltd. Software 2.03Mahindra & Mahindra Ltd. Auto 2.00Ambuja cements Ltd. cement 1.99NTPc Ltd. Power 1.85Apollo Tyres Ltd. Auto Ancillaries 1.84Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.63S H Kelkar and company Ltd. consumer Non Durables 1.59Indostar capital Finance Ltd. Finance 1.57Thyrocare Technologies Ltd. Healthcare Services 1.45State Bank of India Banks 1.42Max Financial Services Ltd. Finance 1.38Aurobindo Pharma Ltd. Pharmaceuticals 1.30Spicejet Ltd. Transportation 1.29Inox Leisure Ltd. Media & entertainment 1.24Bajaj consumer care Ltd. consumer Non Durables 1.23Bharti Airtel Ltd. Telecom - Services 1.14Ashoka Buildcon Ltd. construction Project 1.13coal India Ltd. Minerals/Mining 1.11VRL Logistics Ltd. Transportation 1.09JK cement Ltd. cement 1.03Housing Development Finance corporation Ltd. £ Finance 1.01Trent Ltd. Retailing 1.01Oracle Financial Ser Software Ltd. Software 1.00Yes Bank Ltd. Banks 0.99chambal Fertilizers & chemicals Ltd. Fertilisers 0.97Repco Home Finance Ltd. Finance 0.97Advanced enzyme Technologies Ltd.

consumer Non Durables 0.96

cipla Ltd. Pharmaceuticals 0.93Newgen Software Technologies Ltd. Software 0.90Solar Industries India Ltd. chemicals 0.88Bharat Financial Inclusion Ltd. Finance 0.76


Indoco Remedies Ltd. Pharmaceuticals 0.73Dilip Buildcon Ltd. construction Project 0.72Gujarat Pipavav Port Ltd. Transportation 0.69Wonderla Holidays Ltd. Hotels/Resorts & Other

Recreational Activities 0.64Bharat Dynamics Ltd. Aerospace & Defence 0.60Schaeffler India Ltd. Industrial Products 0.60Zee entertainment enterprises Ltd. Media & entertainment 0.59Blue Star Ltd. consumer Durables 0.58entertainment Network (India) Ltd. (India) Ltd. Media & entertainment 0.27Sadbhav Infrastructure Project Ltd. (corporate Guarantee of Sadbhav engineering Ltd.) construction Project 0.26Indiamart Intermesh Ltd. Retailing 0.21Siti Networks Ltd. Media & entertainment 0.17Sub Total 94.89cash, cash Equivalents and Net current Assets 5.11

Grand Total 100.00


PORTFOLIO


0.580.600.600.640.880.971.111.141.221.451.841.852.002.272.723.023.073.294.595.505.696.897.697.69

27.59

0 5 10 15 20 25 30

BanksConsumer Non Durables

Petroleum ProductsSoftware

FinanceConstruction Project

PharmaceuticalsNon - Ferrous Metals

TransportationCement

GasMedia & Entertainment

AutoPower

Auto AncillariesHealthcare Services

RetailingTelecom - Services

Minerals/MiningFertilisersChemicals

Hotels, Resorts & Other Recreational ActivitiesAerospace & Defence

Industrial ProductsConsumer Durables

KEY FACTS


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

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

CATEgORY OF SCHEME: Value Fund

FUND MANAgER ¥

Miten Lathia (since May 10, 2012*)

Total Experience: Over 18 years*The scheme was co-managed by Miten Lathia with chirag Setalvad from May 10, 2012 to March 19, 2017


February 1, 1994





qUANTiTATiVE DATA








EXiT lOAD




PLANS & OPTIONS




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

CATEgORY OF SCHEME: VALUE FUND

June 2019 7

CATEgORY OF SCHEME: LARGE-cAP FUND


KEY FACTS

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, 2003)


iNCEPTiON DATE (Date of Allotment)October 11, 1996



ASSETS UNDER MANAgEMENT (`) iN CROREAs on June 30, 2019 17,911.82Average for Month of June, 2019 17,585.76

qUANTiTATiVE DATAPortfolio Turnover Ratio (Last 1 year) 14.90%Risk Ration Standard Deviation 3.948%n Beta 0.979n Sharpe Ratio* 0.191computed for the 3-yr period ended June 30, 2019. Based on month-end NAV. * Risk free rate: 5.97%(Source: FIMMDA MIBOR)

TOTAL ExPENSE RATIO (As on June 30, 2019)Including Additional expenses and Goods and Service Tax on Management FeesRegular: 1.87% Direct: 1.37%


##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 85.64%Mid cap 11.83%

§ 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


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


SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 2,730.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) $$ 40,337.55 6,158.16 2,350.56 812.56 435.34 131.32 Returns (%) $$ 19.84 15.00 12.92 12.12 12.82 18.29 Benchmark Returns (%) # N.A. 12.93 12.16 11.28 11.40 10.17 Additional Benchmark Returns (%) ## 14.49 12.87 12.18 12.38 14.35 13.67



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 investedScheme (`)

$$Benchmark

(`)#Additional

Benchmark (`)##

Jun 29, 18 Last 1 Year 18.25 9.41 12.52 11,825 10,941 11,252Jun 30, 16 Last 3 Years 15.09 13.68 14.83 15,232 14,682 15,130Jun 30, 14 Last 5 Years 10.47 10.87 10.64 16,447 16,748 16,575Oct 11, 96 Since Inception 19.99 N.A. 13.59 629,542 N.A. 180,859

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 52. 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. For FPI Portfolio, refer page no. 65.

^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 predominantly investing in large cap stocks)HDFC Top 100 Fund


EqUiTY & EqUiTY RElATED• IcIcI Bank Ltd. Banks 8.10• State Bank of India Banks 7.96• Reliance Industries Ltd. Petroleum Products 7.15• Infosys Ltd. Software 6.64• HDFc Bank Ltd. Banks 6.63• Larsen and Toubro Ltd. construction Project 6.29• NTPc Ltd. Power 4.35• ITc Ltd. consumer Non Durables 4.09• Tata consultancy Services Ltd. Software 4.03• Axis Bank Ltd. Banks 3.77coal India Ltd. Minerals/Mining 2.80Housing Development Finance corporation Ltd. £ Finance 2.50Power Finance corporation Ltd. Finance 2.17Hindustan Petroleum corporation Ltd. Petroleum Products 2.05Tata Steel Ltd. Ferrous Metals 1.99Power Grid corporation of India Ltd. Power 1.73Bank of Baroda Banks 1.54Rural electrification corporation Ltd. Finance 1.43Bharat Petroleum corporation Ltd. Petroleum Products 1.41GAIL (India) Ltd. Gas 1.37Aurobindo Pharma Ltd. Pharmaceuticals 1.23cESc Ltd. Power 1.23Tata chemicals Ltd. chemicals 1.13canara Bank Banks 1.04Vedanta Ltd. Non - Ferrous Metals 1.00Oil & Natural Gas corporation Ltd. Oil 0.87Shriram Transport Finance company Ltd. Finance 0.87Bharat electronics Ltd. Industrial capital Goods 0.77cipla Ltd. Pharmaceuticals 0.75Tech Mahindra Ltd. Software 0.74ABB India Ltd. Industrial capital Goods 0.72Sun Pharmaceutical Industries Ltd. Pharmaceuticals 0.66Bank of India Banks 0.64Bharat Heavy electricals Ltd. Industrial capital Goods 0.63HcL Technologies Ltd. Software 0.61Siemens Ltd. Industrial capital Goods 0.59InterGlobe Aviation Ltd. Transportation 0.55Grasim Industries Ltd. cement 0.54Hindalco Industries Ltd. Non - Ferrous Metals 0.52


Oracle Financial Ser Software Ltd. Software 0.51UPL Ltd. Pesticides 0.50Indian Oil corporation Ltd. Petroleum Products 0.49Punjab National Bank Banks 0.47Wipro Ltd. Software 0.47Ambuja cements Ltd. cement 0.43Lupin Ltd. Pharmaceuticals 0.43Union Bank of India Banks 0.43Steel Authority of India Ltd. Ferrous Metals 0.33NHPc Ltd. Power 0.24LIc Housing Finance Ltd. Finance 0.04Sub Total 97.43Preference SharesZee entertainment enterprises Ltd. Media & entertainment 0.01Sub Total 0.01Total 97.44cash margin 0.03cash, cash Equivalents and Net current Assets 2.53Grand Total 100.00


PORTFOLIO


0.010.500.550.870.971.131.371.522.322.712.803.074.09

6.297.017.55

11.1013.00

30.58

0 5 10 15 20 25 30 35

Media & EntertainmentPesticides

TransportationOil

CementChemicals

GasNon - Ferrous Metals

Ferrous MetalsIndustrial Capital Goods

Minerals/MiningPharmaceuticals

Consumer Non DurablesConstruction Project

FinancePower

Petroleum ProductsSoftware

Banks

8 June 2019

CATEgORY OF SCHEME: MID cAP FUND

KEY FACTS

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, 2007)


iNCEPTiON DATE (Date of Allotment)June 25, 2007

NAV (AS ON JUNE 28, 2019) NAV PER UNIT (`)Regular Plan - Growth Option 54.312Regular Plan - Dividend Option 27.470Direct Plan - Growth Option 57.430Direct Plan - Dividend Option 33.948




#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 4.47%Mid cap 67.79%Small cap 19.25%¥ 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) 1,450.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) 4,469.04 2,864.90 745.58 378.55 120.70 Returns (%) 17.39 16.61 8.65 3.31 1.10 Benchmark Returns (%) # 12.55 12.09 7.19 1.47 -1.65 Additional Benchmark Returns (%) ## 11.68 11.85 11.67 12.78 12.43


PERFORMANCE ^ - Regular plan - growth Option

Date Period Scheme Returns

(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year -0.93 -2.04 11.39 9,907 9,796 11,139Jun 30, 16 Last 3 Years 10.55 9.69 13.93 13,502 13,191 14,777Jun 30, 14 Last 5 Years 13.20 10.95 10.53 18,582 16,807 16,490Jun 25, 07 Since Inception 15.12 11.06 10.14 54,312 35,263 31,903

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by chirag Setalvad, please refer page 52. 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 Mid-cap companies

Riskometer




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

Company Industry+ / Rating % to NAV

EqUiTY & EqUiTY RElATED• cholamandalam Investment

& Finance Finance 4.13• Aarti Industries Ltd. chemicals 3.69• Sundram Fasteners Ltd. Auto Ancillaries 3.36• city Union Bank Ltd. Banks 3.15• Voltas Ltd. consumer Durables 3.03• Balkrishna Industries Ltd. Auto Ancillaries 2.80• RBL Bank Ltd. Banks 2.80• Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 2.73• Trent Ltd. Retailing 2.42• Hexaware Technologies Ltd. Software 2.33Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.33Tata chemicals Ltd. chemicals 2.09crompton Greaves consumer elec. Ltd. consumer Durables 1.94AIA engineering Ltd. Industrial Products 1.92The Federal Bank Ltd. Banks 1.92exide Industries Ltd. Auto Ancillaries 1.76SKF India Ltd. Industrial Products 1.71Apollo Tyres Ltd. Auto Ancillaries 1.65carborundum Universal Ltd. Industrial Products 1.61Max Financial Services Ltd. Finance 1.60VST Industries Ltd. consumer Non Durables 1.59cholamandalam Financial Holdings Ltd. Finance 1.53Indian Bank Banks 1.53Ipca Laboratories Ltd. Pharmaceuticals 1.52Atul Ltd. chemicals 1.51Divis Laboratories Ltd. Pharmaceuticals 1.51Supreme Industries Ltd. Industrial Products 1.48Whirlpool of India Ltd. consumer Durables 1.32Edelweiss Financial Services Ltd. Finance 1.30KEc International Ltd. construction Project 1.29Tube Investments of India Ltd. Auto Ancillaries 1.22Reliance Nippon Life Asset Management Ltd. Finance 1.21NIIT Technologies Ltd. Software 1.18Larsen & Toubro Infotech Ltd. Software 1.17Power Finance corporation Ltd. Finance 1.17Blue Star Ltd. consumer Durables 1.12Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.11KNR construction Ltd.. construction 1.11Rural electrification corporation Ltd. Finance 1.11Solar Industries India Ltd. chemicals 1.09Union Bank of India Banks 1.07Aurobindo Pharma Ltd. Pharmaceuticals 1.00Karur Vysya Bank Ltd. Banks 0.98Dilip Buildcon Ltd. construction Project 0.92Arvind Fashions Ltd. Retailing 0.86Gujarat Fluorochemicals Ltd. chemicals 0.85Redington (India) Ltd. Transportation 0.85Jagran Prakashan Ltd. Media & entertainment 0.80


MRF Ltd. Auto Ancillaries 0.78Schaeffler India Ltd. Industrial Products 0.77Navneet education Ltd. Media & entertainment 0.74Punjab National Bank Banks 0.69Bata India Ltd. consumer Durables 0.64Greenlam Industries Ltd. consumer Durables 0.60Greenply Industries Ltd. consumer Durables 0.55Symphony Ltd. consumer Durables 0.55cummins India Ltd. Industrial Products 0.54Grindwell Norton Ltd. Industrial Products 0.50Delta corp Ltd. Hotels/Resorts & Other

Recreational Activities 0.45Vesuvius India Ltd. Industrial Products 0.43Mahindra Holidays & Resorts Ind Ltd.

Hotels/Resorts & Other Recreational Activities 0.38

Persistent Systems Ltd. Software 0.35Arvind Ltd. Textile Products 0.34Vardhman Textiles Ltd. Textiles - cotton 0.33Strides Pharma Science Ltd. Pharmaceuticals 0.20Dhanuka Agritech Ltd. Pesticides 0.19The Anup engineering Ltd. Industrial capital Goods 0.11Sub Total 91.51Preference SharesZee entertainment enterprises Ltd. Media & entertainment 0.01Sub Total 0.01Total 91.52cash, cash Equivalents and Net current Assets 8.48Grand Total 100.00• Top Ten Holdings

PORTFOLIO


0.110.190.330.340.851.111.551.592.213.283.56

5.037.67

8.969.239.75

11.5712.0512.14

0 2 4 6 8 101214

Industrial Capital GoodsPesticides

Textiles - CottonTextile ProductsTransportation

ConstructionMedia & Entertainment

Consumer Non DurablesConstruction Project

RetailingHotels, Resorts & Other Recreational Activities

SoftwarePharmaceuticals

Industrial ProductsChemicals

Consumer DurablesAuto Ancillaries

FinanceBanks

June 2019 9

CATEgORY OF SCHEME: SMALL cAP FUND

KEY FACTS

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, 2014)


iNCEPTiON DATE (Date of Allotment)April 3, 2008





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







SEgMENT-WiSE BREAK-UP OF EqUiTY HOlDiNg (% OF NET ASSETS)Large cap 4.94%Mid cap 16.74%Small cap 65.35%§ 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).


Since Inception SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 1,350.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) 3,431.47 2,594.98 806.30 400.05 118.09 Returns (%) 15.67 14.77 11.81 7.02 -3.00 Benchmark Returns (%) # 8.98 7.98 1.07 -6.62 -9.98 Additional Benchmark Returns (%) ## 12.23 11.85 11.67 12.78 12.43




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year -2.10 -12.71 11.39 9,790 8,729 11,139Jun 30, 16 Last 3 Years 14.84 3.08 13.93 15,135 10,950 14,777Jun 30, 14 Last 5 Years 14.94 3.86 10.53 20,050 12,084 16,490Apr 03, 08 Since Inception 13.70 6.02 9.69 42,347 19,295 28,295

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by chirag Setalvad, please refer page 52. 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 Small-cap companies

Riskometer




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

Company Industry+ % to NAVEqUiTY & EqUiTY RElATED• NIIT Technologies Ltd. Software 3.08• DcB Bank Ltd. Banks 3.01• Sonata Software Ltd. Software 3.00• chambal Fertilizers &

chemicals Ltd. Fertilisers 2.85• Bank of Baroda Banks 2.53• The Federal Bank Ltd. Banks 2.47• Balkrishna Industries Ltd. Auto Ancillaries 2.41• Aurobindo Pharma Ltd. Pharmaceuticals 2.40• Indian Bank Banks 2.25• Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 2.25KEc International Ltd. construction Project 2.19Kalpataru Power Transmission Ltd. Power 2.18SKF India Ltd. Industrial Products 2.17Firstsource Solutions Ltd. Software 2.16Gujarat Fluorochemicals Ltd. chemicals 2.15Sadbhav engineering Ltd. construction Project 2.07Sharda cropchem Ltd. Pesticides 2.03KeI Industries Ltd. Industrial Products 2.02chalet Hotels Ltd. Hotels/Resorts & Other

Recreational Activities 1.83Inox Leisure Ltd. Media & entertainment 1.79PNc Infratech Ltd. construction 1.77Vardhman Textiles Ltd. Textiles - cotton 1.72Atul Ltd. chemicals 1.71NRB Bearing Ltd. Industrial Products 1.69Repco Home Finance Ltd. Finance 1.59Tube Investments of India Ltd. Auto Ancillaries 1.53Oriental Bank of commerce Banks 1.52Tata Metaliks Ltd. Ferrous Metals 1.51T. V. Today Network Ltd. Media & entertainment 1.38FINOLEx INDUSTRIES Ltd. Industrial Products 1.37Great eastern Shipping company Ltd. Transportation 1.36eIH Ltd. Hotels/Resorts & Other

Recreational Activities 1.34Bajaj electricals Ltd. consumer Durables 1.32Aster DM Healthcare Ltd. Healthcare Services 1.24Procter & Gamble Health Ltd. Pharmaceuticals 1.23Insecticides (India) Ltd. Pesticides 1.18carborundum Universal Ltd. Industrial Products 1.16Power Mech Projects Ltd. construction Project 1.10Nilkamal Ltd. Industrial Products 0.97Advanced enzyme Technologies Ltd.

consumer Non Durables 0.88

Redington (India) Ltd. Transportation 0.84Oriental carbon & chemicals Ltd. chemicals 0.75Orient Refractories Ltd. Industrial Products 0.72Allahabad Bank Banks 0.61D B corp Ltd. Media & entertainment 0.61IFGL Refractories Ltd. (formarly known as IFGL Exports Ltd.) Industrial Products 0.59Unichem Laboratories Ltd. Pharmaceuticals 0.58LG Balakrishnan & Bros Ltd. Auto Ancillaries 0.56Vesuvius India Ltd. Industrial Products 0.55

Company Industry+ % to NAVJagran Prakashan Ltd. Media & entertainment 0.52Kirloskar Ferrous Industries Ltd. Ferrous Metals 0.51Gabriel India Ltd. Auto Ancillaries 0.50Apar Industries Ltd. Industrial capital Goods 0.49Lemon Tree Hotels Ltd. Hotels/Resorts & Other

Recreational Activities 0.49Goodyear India Ltd. Auto Ancillaries 0.48Shaily engineering Plastics Ltd. Industrial Products 0.45eclerx Services Ltd. Software 0.44Taj GVK Hotels & Resorts Ltd. Hotels/Resorts & Other

Recreational Activities 0.40Atul Auto Ltd. Auto 0.39Greenlam Industries Ltd. consumer Durables 0.37GNA Axles Ltd. Auto Ancillaries 0.34Swaraj engines Ltd. Industrial Products 0.25everest Industries Ltd. cement 0.19Greenply Industries Ltd. consumer Durables 0.16V.S.T Tillers Tractors Ltd. Auto 0.16Time Technoplast Ltd. Industrial Products 0.12Banco Products (I) Ltd. Auto Ancillaries 0.11Titagarh Wagons Ltd. Industrial capital Goods 0.11Mcleod Russel India Ltd. consumer Non Durables 0.10cG Power and Industrial Solutions Ltd. Industrial capital Goods 0.09Sarla Performance Fibers Ltd. Textiles - Synthetic 0.09Sub Total 86.98cash margin 0.01cash, cash Equivalents and Net current Assets 13.01Grand Total 100.00• Top Ten Holdings, £ co-sponsor

PORTFOLIO


0.090.190.550.690.981.241.591.721.771.852.022.182.202.853.21

4.214.304.615.365.936.31

8.6812.0612.39

0 2 4 6 8 10 12 14Textiles - Synthetic

CementAuto

Industrial Capital GoodsConsumer Non Durables

Healthcare ServicesFinance

Textiles - CottonConstruction

Consumer DurablesFerrous Metals

PowerTransportation

FertilisersPesticides

PharmaceuticalsMedia & Entertainment

ChemicalsConstruction Project

Auto AncillariesHotels, Resorts & Other Recreational Activities

SoftwareIndustrial Products

Banks

10 June 2019

CATEgORY OF SCHEME: LARGE & MID cAP FUND

KEY FACTS

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, 2014)


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 59.31%Mid cap 37.04%Small cap 3.25%§ 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 (`)#


(`)##

Jun 29, 18 Last 1 Year 7.55 4.41 12.52 10,755 10,441 11,252Jun 30, 16 Last 3 Years 9.92 13.03 14.83 13,272 14,431 15,130Jun 30, 14 Last 5 Years 7.14 11.99 10.64 14,114 17,609 16,575Feb 18, 94 Since Inception 11.29 N.A. N.A. 150,858 N.A. N.A.

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 52. 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. 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



• State Bank of India Banks 9.49• NTPc Ltd. Power 8.27• IcIcI Bank Ltd. Banks 7.82• Infosys Ltd. Software 5.87• Reliance Industries Ltd. Petroleum Products 5.18• ITc Ltd. consumer Non Durables 4.94• HDFc Bank Ltd. Banks 4.32• Bharat Petroleum

corporation Ltd. Petroleum Products 3.21• GAIL (India) Ltd. Gas 3.14• Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 2.66Trent Ltd. Retailing 2.41Apollo Tyres Ltd. Auto Ancillaries 2.19Prestige estates Projects Ltd. construction 2.07Tata Global Beverages Ltd. consumer Non Durables 2.03Bharat Heavy electricals Ltd. Industrial capital Goods 1.82Gujarat State Petronet Ltd. Gas 1.79NHPc Ltd. Power 1.78Max Financial Services Ltd. Finance 1.71Info edge (India) Ltd. Software 1.69Tata chemicals Ltd. chemicals 1.61Divis Laboratories Ltd. Pharmaceuticals 1.50Hindustan Petroleum corporation Ltd. Petroleum Products 1.48Shriram Transport Finance company Ltd. Finance 1.46emami Ltd. consumer Non Durables 1.41Mindtree consulting Ltd. Software 1.39Tata Motors Ltd. DVR Auto 1.39Vedanta Ltd. Non - Ferrous Metals 1.37Solar Industries India Ltd. chemicals 1.29canara Bank Banks 1.23exide Industries Ltd. Auto Ancillaries 1.21castrol India Ltd. Petroleum Products 1.18Indraprastha Gas Ltd. Gas 1.18Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.15Oil India Ltd. Oil 1.14Glenmark Pharmaceuticals Ltd. Pharmaceuticals 1.04Reliance Nippon Life Asset Management Ltd. Finance 0.87


cESc Ltd. Power 0.83Power Grid corporation of India Ltd. Power 0.78Dilip Buildcon Ltd. construction Project 0.60Mahanagar Gas Ltd. Gas 0.59NBcc (India) Ltd. construction 0.58Indian Bank Banks 0.45Union Bank of India Banks 0.44Tata Steel Ltd. Ferrous Metals 0.38NLc India Ltd. Power 0.37Larsen and Toubro Ltd. construction Project 0.18Reliance Power Ltd. Power 0.13Sub Total 99.62cash, cash Equivalents and Net current Assets 0.38

Grand Total 100.00

• Top Ten Holdings

PORTFOLIO


0.380.781.141.371.391.822.412.652.662.903.403.694.04

6.708.388.95

11.0512.16

23.75

0 5 10 15 20 25

Ferrous MetalsConstruction Project

OilNon - Ferrous Metals

AutoIndustrial Capital Goods

RetailingConstruction

Hotels, Resorts & Other Recreational ActivitiesChemicals

Auto AncillariesPharmaceuticals

FinanceGas

Consumer Non DurablesSoftware

Petroleum ProductsPowerBanks


SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 3,050.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) $$ 20,481.08 4,186.80 2,069.83 736.57 401.81 125.64 Returns (%) $$ 12.83 10.50 10.53 8.17 7.31 9.00 Benchmark Returns (%) # N.A. N.A. 13.27 10.58 7.99 5.17 Additional Benchmark Returns (%) ## 13.68 12.87 12.18 12.38 14.35 13.67


June 2019 11

CATEgORY OF SCHEME: FOcUSED FUND

KEY FACTS


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, 2006)



September 17, 2004




As on June 30, 2019 494.81Average for Month of June, 2019 479.49

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) 1,780.00 1,200.00 600.00 360.00 120.00

Mkt Value As on June 28, 2019 (` ‘000) 4,505.33 2,048.44 722.32 390.62 127.03

Returns (%) 11.63 10.33 7.38 5.41 11.25

Benchmark Returns (%) # 12.22 11.83 10.35 9.23 7.56

Additional Benchmark Returns (%) ## 12.69 12.18 12.38 14.35 13.67




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 5.70 6.63 12.52 10,570 10,663 11,252

Jun 30, 16 Last 3 Years 9.14 12.80 14.83 12,995 14,343 15,130

Jun 30, 14 Last 5 Years 7.65 10.64 10.64 14,456 16,575 16,575

Sep 17, 04 Since Inception 15.11 15.07 15.77 80,124 79,679 87,128

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by Vinay Kulkarni, please refer page 52. 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 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










• Bharat Petroleum corporation Ltd. Petroleum Products 3.52

• Hindustan Petroleum corporation Ltd. Petroleum Products 3.52

• Vedanta Ltd. Non - Ferrous Metals 3.42


Bharat electronics Ltd. Industrial capital Goods 3.04

PNc Infratech Ltd. construction 2.60




KEc International Ltd. construction Project 2.27

Titagarh Wagons Ltd. Industrial capital Goods 2.25


elecon engineering comapny Ltd. Industrial capital Goods 2.19

Gujarat Pipavav Port Ltd. Transportation 1.99

emami Ltd. consumer Non Durables 1.63

Indiamart Intermesh Ltd. Retailing 1.62


Garden Reach Shipbuilders & engineers Ltd. Aerospace & Defence 1.25


Transport corporation of India Ltd. Transportation 1.25


NHPc Ltd. Power 0.99

Tata Motors Ltd. Auto 0.66

Sub Total 96.55

cash, cash Equivalents and Net current Assets 3.45

Grand Total 100.00


PORTFOLIO


0.66

1.25

1.49

1.62

2.52

2.54

2.60

3.24

3.42

6.45

6.79

7.04

8.08

8.66

13.99

26.20

0 5 10 15 20 25 30

Auto

Aerospace & Defence

Minerals/Mining

Retailing

Gas

Ferrous Metals

Construction

Transportation

Non - Ferrous Metals

Software

Consumer Non Durables

Petroleum Products

Construction Project

Industrial Capital Goods

Power

Banks

12 June 2019

CATEgORY OF SCHEME: THEMATIc FUND

KEY FACTS

iNVESTMENT OBjECTiVETo 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 ¥

Prashant Jain (since June 01, 2019*)

Total Experience: Over 27 years &Rakesh Vyas (since June 01, 2019*)

Total Experience: Over 15 years &*w.e.f June 01, 2019

iNCEPTiON DATE (Date of Allotment)March 10, 2008


ASSETS UNDER MANAgEMENT (`) iN CROREAs on June 30, 2019 845.81Average for Month of June, 2019 837.07



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









Since Inception SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 1,360.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) 2,056.46 1,649.15 625.26 355.43 128.31 Returns (%) 7.06 6.20 1.63 -0.83 13.34 Benchmark Returns (%) # 12.30 11.83 10.35 9.23 7.56 Additional Benchmark Returns (%) ## 12.18 11.85 11.67 12.78 12.43




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 5.56 6.63 11.39 10,556 10,663 11,139Jun 30, 16 Last 3 Years 3.86 12.80 13.93 11,201 14,343 14,777Jun 30, 14 Last 5 Years 3.19 10.64 10.53 11,697 16,575 16,490Mar 10, 08 Since Inception 5.03 9.56 9.58 17,416 28,079 28,130

Returns greater than 1 year period are compounded annualized (cAGR). For performance of other schemes managed by Prashant Jain & Rakesh Vyas, please refer page 52. 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. For FPI Portfolio, refer page no. 65.




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 5.14

• JMc Projects (India) Ltd. construction 4.73


• Bharat Petroleum corporation Ltd. Petroleum Products 4.03

• Bank of Baroda Banks 3.81

• Texmaco Rail & Engineering Ltd. Industrial capital Goods 3.63

• centum Electronics Ltd. Industrial capital Goods 3.44



Hindustan construction company Ltd. construction Project 2.60


Power Finance corporation Ltd. Finance 2.33

BeML Ltd. Industrial capital Goods 2.11

Gujarat State Petronet Ltd. Gas 2.09

J.Kumar Infraprojects Ltd. construction 2.03

Premier explosives Ltd. chemicals 1.97

Dilip Buildcon Ltd. construction Project 1.95

Dynamatic Technologies Ltd. Auto Ancillaries 1.95

Ashoka Buildcon Ltd. construction Project 1.93





Ircon International Ltd. construction Project 1.12

Punjab National Bank Banks 1.10

Sadbhav Infrastructure Project Ltd. (corporate Guarantee of Sadbhav engineering Ltd.) construction Project 0.83

Simplex Infrastructures Ltd. construction 0.79


cG Power and Industrial Solutions Ltd. Industrial capital Goods 0.77

MeP Infrastructure Developers Ltd. Transportation 0.63

corporation Bank Banks 0.49

B L Kashyap & Sons Ltd. construction 0.41

IRB Infrastructure Developers Ltd. construction 0.35

Oriental Bank of commerce Banks 0.27

Transformers & Rectifiers India Ltd. Industrial capital Goods 0.23

Elecon Engineering comapny Ltd. Industrial capital Goods 0.05

Sub Total 98.41


Grand Total 100.00


PORTFOLIO


1.59

1.66

1.95

1.97

2.09

2.54

3.05

4.03

5.29

8.31

9.68

11.54

17.33

27.38

0 5 10 15 20 25 30


Ferrous Metals

Auto Ancillaries

Chemicals

Gas

Transportation

Minerals/Mining

Petroleum Products

Finance

Construction

Power



Banks

June 2019 13

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of June 30, 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 3.37


• Power Finance corporation Ltd. Finance 3.00


ITc Ltd. consumer Non Durables 2.39





HDFc Bank Ltd. Banks 1.66


Hindustan Petroleum corporation Ltd. Petroleum Products 1.34

Tata consultancy Services Ltd. Software 1.29



Just Dial Ltd. Software 1.03


Solar Industries India Ltd. chemicals 0.93



chambal Fertilizers & chemicals Ltd. Fertilisers 0.80




Apollo Tyres Ltd. Auto Ancillaries 0.57





Ashoka Buildcon Ltd. construction Project 0.39

Apar Industries Ltd. Industrial capital Goods 0.31

Savita Oil Technologies Ltd. Petroleum Products 0.31


Mishra Dhatu Nigam Ltd. Ferrous Metals 0.26

Orient cement Ltd. cement 0.26

JMc Projects (India) Ltd. construction 0.22

Time Technoplast Ltd. Industrial Products 0.21

Union Bank of India Banks 0.21

Steel Authority of India Ltd. Ferrous Metals 0.18

cochin Shipyard Ltd. Industrial capital Goods 0.17


ABB India Ltd. Industrial capital Goods 0.16

Kirloskar Pneumatic Ltd. Industrial Products 0.15

NLc India Ltd. Power 0.14

Garden Reach Shipbuilders & engineers Ltd. Aerospace & Defence 0.12

Gujarat Industries Power company Ltd. Power 0.12



Texmaco Rail & engineering Ltd. Industrial capital Goods 0.10

Sagar cements Ltd. cement 0.09


J.Kumar Infraprojects Ltd. construction 0.08

Bharat Dynamics Ltd. Aerospace & Defence 0.07



Syndicate Bank Banks 0.06


S chand and company Ltd. Media & entertainment 0.05

Ramco Systems Ltd. Software 0.04

Future Supply chain Solutions Ltd. Transportation 0.02

Elecon Engineering comapny Ltd. Industrial capital Goods 0.01

Oriental Bank of commerce Banks 0.01

Avenue Supermarts Ltd. Retailing @

Sub Total 82.16

DEBT & DEBT RElATED

CREDiT EXPOSURE

• State Bank of India cARE - AA+ / cRISIL - AA+ / cRISIL - AAA 5.40

• Tata Sons Ltd. cRISIL - AAA 3.13

canara Bank cRISIL - AA 1.51

HDFc Bank Ltd. cARE - AA+ 1.42

IcIcI Bank Ltd. IcRA - AA+ 1.04

Punjab National Bank IND - A 1.00

Union Bank of India cARE - AA- 0.67

Syndicate Bank cARE - A+ 0.30

Axis Bank Ltd. cRISIL - AA+ 0.06

Andhra Bank cARE - A+ 0.05

Sub Total 14.58

MUTUAl FUND UNiTS

HDFc SeNSex Exchange Traded Fund 0.03

Sub Total 0.03

cash margin 0.03


Grand Total 100.00

• Top Ten Holdings, @ Less than 0.01%

PORTFOLIO

KEY FACTS


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, 2003)§


iNCEPTiON DATE ¤February 01, 1994





qUANTiTATiVE DATAPortfolio Turnover Ratio 11.15%Average Maturity * 3.30 yearsMacaulay Duration * 2.21 yearsModified Duration * 2.35 yearsYield to Maturity * 9.05%

* 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).

(The Scheme underwent Change in Fundamental Attributes i.e. change in Asset Allocation Pattern w.e.f. March 14, 2019).

CATEgORY OF SCHEME: BALANcED ADVANTAGE FUND

14 June 2019



l investments in a mix of equity and debt instruments

Riskometer




SIP15 year

SIP10 year

SIP5 year

SIP3 year

SIP1 year

SIPTotal Amount Invested (` ‘000) 3,050.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) $$ 61,970.00 6,253.02 2,405.61 786.64 420.25 130.91 Returns (%) $$ 19.48 15.18 13.35 10.81 10.38 17.62 Benchmark Returns (%) # N.A. 11.33 10.82 10.56 11.13 12.90 Additional Benchmark Returns (%) ## N.A. 12.54 11.85 11.67 12.78 12.43



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`) $$

Benchmark (`)#


(`)##Jun 29, 18 Last 1 Year 15.63 11.65 11.39 11,563 11,165 11,139Jun 30, 16 Last 3 Years 13.04 11.91 13.93 14,435 14,007 14,777Jun 30, 14 Last 5 Years 10.51 10.10 10.53 16,479 16,171 16,490Feb 01, 94 Since Inception 18.61 N.A. N.A. 765,996 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 52. 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. For FPI Portfolio, refer page no. 65.^Past performance may or may not be sustained in the future. Load is not taken into consideration for computation of performance.

Portfolio Classification By Asset Class (%)

n equity 82.16

n credit Exposure 14.58

n Mutual Fund Units 0.03

n cash, cash Equivalents and Net current Assets 3.23

Portfolio Classification By Rating Class (%)

n equity 82.16n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent 4.29n AA+ 6.76n AA/AA- 2.18n A+ & Below 1.35n Mutual Fund Units 0.03n cash, cash Equivalents and Net

current Assets 3.23

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


0.000.050.190.300.350.360.550.680.800.801.561.701.872.122.132.392.53

5.476.437.398.47

10.1825.84

0 5 10 15 20 25 30Retailing

Media & EntertainmentAerospace & Defence

ConstructionCement

Industrial ProductsTransportation

Auto AncillariesFertilisers

Non - Ferrous MetalsGas

Industrial Capital GoodsChemicals

PharmaceuticalsFerrous Metals

Consumer Non DurablesMinerals/Mining

FinancePetroleum Products

Construction ProjectPower

SoftwareBanks

June 2019 15

CATEgORY OF SCHEME: AGGRESSIVE HYBRID FUND


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 4.55



• Axis Bank Ltd. Banks 2.73


Reliance Industries Ltd. Petroleum Products 2.22


Aarti Industries Ltd. chemicals 1.85


UPL Ltd. Pesticides 1.56


SKF India Ltd. Industrial Products 1.36

Voltas Ltd. consumer Durables 1.36

Indusind Bank Ltd. Banks 1.29



Atul Ltd. chemicals 1.05


Bharti Airtel Ltd. Telecom - Services 1.00


Indian Hotels company Ltd. Hotels/Resorts & Other Recreational Activities 0.97

Balkrishna Industries Ltd. Auto Ancillaries 0.90

cholamandalam Financial Holdings Ltd. Finance 0.83


Tube Investments of India Ltd. Auto Ancillaries 0.71

Hexaware Technologies Ltd. Software 0.70

NIIT Technologies Ltd. Software 0.66



Mahindra Holidays & Resorts Ind Ltd.



Sadbhav engineering Ltd. construction Project 0.59

Edelweiss Financial Services Ltd. Finance 0.51

VST Industries Ltd. consumer Non Durables 0.42

Redington (India) Ltd. Transportation 0.40

Vardhman Textiles Ltd. Textiles - cotton 0.40


Zensar Technologies Ltd. Software 0.40

Allahabad Bank Banks 0.39

Ipca Laboratories Ltd. Pharmaceuticals 0.38


Yes Bank Ltd. Banks 0.34

Sharda cropchem Ltd. Pesticides 0.33

Tamilnadu Newsprint & Papers Ltd. Paper 0.33

Torrent Pharmaceuticals Ltd. Pharmaceuticals 0.31

carborundum Universal Ltd. Industrial Products 0.29

Jagran Prakashan Ltd. Media & entertainment 0.24

Tata Motors Ltd. DVR Auto 0.24

Navneet education Ltd. Media & entertainment 0.14

Greenply Industries Ltd. consumer Durables 0.13

MM Forgings Ltd. Industrial Products 0.13

Persistent Systems Ltd. Software 0.12

IFB Industries Ltd. consumer Durables 0.09

Atul Auto Ltd. Auto 0.07

Insecticides (India) Ltd. Pesticides 0.05

Sub Total 70.68

DEBT & DEBT RElATED

gOVERNMENT SECURiTiES (CENTRAl/STATE)

7.16 GOI 2023 Sovereign 1.46


















SUB TOTAL 8.03

CREDiT EXPOSURE


• LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 2.56

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

PORTFOLIO

KEY FACTS

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, 2007) ¤


iNCEPTiON DATE ¤September 11, 2000





qUANTiTATiVE DATA

Portfolio Turnover Ratio (Last 1 year) 9.01%Average Maturity * 3.03 yearsMacaulay Duration * 2.50 yearsModified Duration * 2.38 yearsYield to Maturity * 7.72%

* 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 50.10%Mid cap 11.88%Small cap 8.70%


16 June 2019


Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA / IcRA - AAA 2.30

National Bank for Agriculture & Rural Development cRISIL - AAA 1.58


Housing Development Finance corporation Ltd. £ cRISIL - AAA 1.28

L&T Finance Ltd. cARE - AAA 1.17

Small Industries Development Bank cARE - AAA 1.14

Rural electrification corporation Ltd.

cARE - AAA / cRISIL - AAA / IND - AAA 0.70

Shriram Transport Finance company Ltd. cRISIL - AA+ 0.68

National Highways Authority of India cARE - AAA 0.56


HDFc Bank Ltd. cRISIL - AAA 0.23

State Bank of India cRISIL - AA+ 0.22



Oriental Bank of commerce cARE - A+ 0.13

IcIcI Bank Ltd. cARE - AAA 0.11


Hindalco Industries Ltd. cRISIL - AA 0.05

Tata capital Financial Services Ltd. IcRA - AAA 0.05

Sub Total 19.34

Total 27.37

MUTUAl FUND UNiTS

HDFc NIFTY 50 Exchange Traded Fund 0.71

Sub Total 0.71

cash margin 0.03


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) 2,260.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) 12,747.94 6,083.61 2,485.35 770.28 407.59 126.83 Returns (%) 16.17 14.86 13.96 9.96 8.28 10.93 Benchmark Returns (%) # N.A. 11.33 10.82 10.56 11.13 12.90 Additional Benchmark Returns (%) ## 14.74 12.54 11.85 11.67 12.78 12.43




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 8.99 11.65 11.39 10,899 11,165 11,139Jun 30, 16 Last 3 Years 11.54 11.91 13.93 13,869 14,007 14,777Jun 30, 14 Last 5 Years 11.67 10.10 10.53 17,357 16,171 16,490Sep 11, 00 Since Inception 15.78 N.A. 13.34 157,171 N.A. 105,319

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 52. 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.



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



PORTFOliO ClASSiFiCATiON BY ASSET ClASS (%)

equity 70.68

G-Sec 8.03

credit Exposure 19.34

Mutual Fund Units 0.71cash, cash Equivalents and Net current Assets 1.24

PORTFOliO ClASSiFiCATiON BY RATiNg ClASS (%)

n equity 70.68n Sovereign 8.03n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent 16.06n AA+ 2.44n AA/AA- 0.05n A+ & Below 0.79n Mutual Fund Units 0.71n cash, cash Equivalents and Net

current Assets 1.24

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


0.310.330.380.400.400.660.821.001.141.581.591.611.651.781.811.942.702.903.523.885.335.897.17

21.89

0 5 10 15 20 25Auto

PaperMedia & Entertainment

Textiles - CottonTransportation

ConstructionNon - Ferrous Metals

Telecom - ServicesFerrous Metals

Consumer DurablesHotels, Resorts & Other Recreational Activities

Auto AncillariesIndustrial Capital Goods

Industrial ProductsPower

PesticidesPharmaceuticals

ChemicalsConsumer Non Durables

Petroleum ProductsConstruction Project

FinanceSoftware

Banks

June 2019 17


Since Inception SIP

10 year SIP

5 Year SIP

3 Year SIP

1 Year SIP

Total Amount Invested (` ‘000) 1,670.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) 3,182.98 1,839.08 702.28 388.72 124.32 Returns (%) 8.78 8.29 6.26 5.08 6.88 Benchmark Returns (%) # N.A. N.A. N.A. N.A. N.A. Additional Benchmark Returns (%) ## 11.76 11.85 11.67 12.78 12.43




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 5.41 11.96 11.39 10,541 11,196 11,139Jun 30, 16 Last 3 Years 6.58 11.07 13.93 12,102 13,695 14,777Jun 30, 14 Last 5 Years 7.02 9.62 10.53 14,037 15,827 16,490Aug 17, 05 Since Inception 8.84 N.A. 13.54 32,384 N.A. 58,221

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

related instruments, debt & money market instruments and Gold

Riskometer




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


0.290.350.410.500.730.991.041.241.371.812.072.883.113.243.89

5.375.776.58

9.5218.41

0 2 4 6 8 10 12 14 16 18 20

Non - Ferrous MetalsFerrous Metals

PowerIndustrial Capital GoodsMedia & Entertainment

AutoTelecom - Services

RetailingPesticides

Consumer DurablesTransportation

Consumer Non DurablesAuto Ancillaries

FinanceIndustrial Products

Construction ProjectPetroleum Products

ChemicalsSoftware

Banks

KEY FACTS

iNVESTMENT OBjECTiVEThe 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, 2007)

Total Experience - Over 21 years &Anil Bamboli (Debt) (since August 17, 2005)

Total Experience: Over 23 yearsKrishan Kumar Daga (Gold) (since May 23, 2018)


iNCEPTiON DATE (Date of Allotment)August 17, 2005



qUANTiTATiVE DATAPortfolio Turnover Ratio 26.58%


#BENCHMARK iNDEX: 90% NIFTY 50 Hybrid composite Debt 65:35 Index + 10% Domestic Price of Gold##ADDl. BENCHMARK iNDEX: NIFTY 50 (Total Returns Index)

EXiT lOADl 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.





(The Scheme underwent Change in Fundamental Attributes i.e. change in Asset Allocation Pattern w.e.f. March 14, 2019).


n equity 69.57


n Gold & Gold ETF 11.31



n equity 69.57

n AA/AA- 3.02

n Gold & Gold ETF 11.31


cash and cash Equivalents include overnight deployment of cash in Tri-Party Repos

CATEgORY OF SCHEME: MULTI ASSET ALLOcATION FUND

18 June 2019

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

% exposure of Derivative


• HDFc Bank Ltd. Banks 8.22 0.00

• State Bank of India Banks 4.35 0.00

• IcIcI Bank Ltd. Banks 3.86 0.00

• Reliance Industries Ltd. Petroleum Products 3.82 0.00

• Infosys Ltd. Software 3.58 0.00

• Larsen and Toubro Ltd. construction Project 3.57 0.00

• Housing Development Finance corporation Ltd. £ Finance 3.24 0.00

• NIIT Technologies Ltd. Software 2.84 0.00

Oriental carbon & chemicals Ltd. chemicals 2.66 0.00

Aarti Industries Ltd. chemicals 2.21 0.00

Redington (India) Ltd. Transportation 2.07 0.00

ITc Ltd. consumer Non Durables 2.06 0.00

Sonata Software Ltd. Software 1.87 0.00

Bajaj electricals Ltd. consumer Durables 1.81 0.00

KEc International Ltd. construction Project 1.80 0.00

Gujarat Fluorochemicals Ltd. chemicals 1.71 0.00

Balkrishna Industries Ltd. Auto Ancillaries 1.50 0.00

Sharda cropchem Ltd. Pesticides 1.37 0.00

Bharat Petroleum corporation Ltd. Petroleum Products 1.32 0.00

Indiamart Intermesh Ltd. Retailing 1.24 0.00

Axis Bank Ltd. Banks 1.23 0.00

Firstsource Solutions Ltd. Software 1.23 0.00

Shaily engineering Plastics Ltd. Industrial Products 1.13 0.00

carborundum Universal Ltd. Industrial Products 1.12 0.00

Gabriel India Ltd. Auto Ancillaries 1.10 0.00

Bharti Airtel Ltd. Telecom - Services 1.04 0.00

Timken India Ltd. Industrial Products 1.00 0.00



Tata Motors Ltd. DVR Auto 0.99 0.00

VST Industries Ltd. consumer Non Durables 0.82 0.00

Union Bank of India Banks 0.75 0.00

Jagran Prakashan Ltd. Media & entertainment 0.73 0.00

Vesuvius India Ltd. Industrial Products 0.64 0.00

Savita Oil Technologies Ltd. Petroleum Products 0.63 0.00

Suprajit engineering Ltd. Auto Ancillaries 0.51 0.00

Apar Industries Ltd. Industrial capital Goods 0.50 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 0.29 0.00

Sub Total 69.57

DEBT & DEBT RElATED

CREDiT EXPOSURE

• Union Bank of India cARE - AA- 3.02

Sub Total 3.02

gOlD

• Gold Bar 1 Kg (0.995 purity) NA 9.21

Sub Total 9.21

MUTUAl FUND UNiTS

HDFc Gold Exchange Traded Fund 2.10

Sub Total 2.10

Total 12.23

OTHERS

Short Term Deposits as margin for Futures & Options 0.62


Sub Total 16.10

Grand Total 100.00



(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

June 2019 19

CATEgORY OF SCHEME: ExcHANGE TRADED FUND

KEY FACTSiNVESTMENT 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, 2015)


iNCEPTiON DATE (Date of Allotment)December 09, 2015

NAV (AS ON JUNE 28, 2019) NAV PER UNIT (`)Growth Option 1,229.41

ASSETS UNDER MANAgEMENT j (`) iN CROREAs on June 30, 2019 320.12Average for Month of June, 2019 315.61

qUANTiTATiVE DATAPortfolio Turnover Ratio (Last 1 year) 15.15%

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

TOTAL ExPENSE RATIO (As on June 30, 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 52.

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 June 30, 2019 unless otherwise specified.

PERFORMANCE *^


(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 11.32 11.39 12.52 11,132 11,139 11,252

Jun 30, 16 Last 3 Years 13.83 13.93 14.83 14,739 14,777 15,130

Dec 09, 15 Since Inception 14.44 14.58 15.08 16,150 16,221 16,474

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 52.


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. 158.35 crores

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










• Kotak Mahindra Bank Ltd. Banks 4.10



State Bank of India Banks 2.88

Hindustan Unilever Ltd. consumer Non Durables 2.65

Bajaj Finance Ltd. Finance 1.82

Maruti Suzuki India Ltd. Auto 1.81



NTPc Ltd. Power 1.28

Asian Paints Ltd. consumer Non Durables 1.27

Mahindra & Mahindra Ltd. Auto 1.27

HcL Technologies Ltd. Software 1.20

Titan company Ltd. consumer Durables 1.16

Oil & Natural Gas corporation Ltd. Oil 1.10

Bajaj Finserv Ltd. Finance 1.07


UltraTech cement Ltd. cement 0.99


Tech Mahindra Ltd. Software 0.93

Sun Pharmaceutical Industries Ltd. Pharmaceuticals 0.92

Wipro Ltd. Software 0.91

Indian Oil corporation Ltd. Petroleum Products 0.79


Bajaj Auto Ltd. Auto 0.76

Grasim Industries Ltd. cement 0.75


Hero Motocorp Ltd. Auto 0.70

Adani Ports & Special economic Zone Transportation 0.67

Britannia Industries Ltd. consumer Non Durables 0.67




Dr Reddys Laboratories Ltd. Pharmaceuticals 0.64

Hindalco Industries Ltd. Non - Ferrous Metals 0.63




JSW Steel Ltd. Ferrous Metals 0.58

eicher Motors Ltd. Auto 0.55

Bharti Infratel Ltd. Telecom - equipment & Accessories 0.47

Indiabulls Housing Finance Ltd. Finance 0.42


Zee entertainment enterprises Ltd. Media & entertainment 0.42

Sub Total 99.77


Grand Total 100.00


PORTFOLIO


0.420.470.600.670.710.941.101.161.291.371.371.742.142.293.995.69

9.4710.3611.15

13.6829.16

0 5 10 15 20 25 30 35

Media & EntertainmentTelecom - Equipment & Accessories

GasTransportation

PesticidesMinerals/Mining

OilConsumer Durables


Telecom - ServicesCement

PharmaceuticalsPower

Construction ProjectAuto

Consumer Non DurablesPetroleum Products

FinanceSoftware

Banks

20 June 2019

CATEgORY OF SCHEME: INDEx FUND


EqUiTY & EqUiTY RElATED• HDFc Bank Ltd. Banks 10.95• Reliance Industries Ltd. Petroleum Products 8.90• Housing Development

Finance corporation Ltd. £ Finance 7.82• IcIcI Bank Ltd. Banks 5.85• Infosys Ltd. Software 5.77• ITc Ltd. consumer Non Durables 4.88• Tata consultancy Services Ltd. Software 4.86• Kotak Mahindra Bank Ltd. Banks 4.10• Larsen and Toubro Ltd. construction Project 3.98• Axis Bank Ltd. Banks 3.43State Bank of India Banks 2.88Hindustan Unilever Ltd. consumer Non Durables 2.65Bajaj Finance Ltd. Finance 1.82Maruti Suzuki India Ltd. Auto 1.80Indusind Bank Ltd. Banks 1.50Bharti Airtel Ltd. Telecom - Services 1.37NTPc Ltd. Power 1.28Asian Paints Ltd. consumer Non Durables 1.27Mahindra & Mahindra Ltd. Auto 1.27HcL Technologies Ltd. Software 1.20Titan company Ltd. consumer Durables 1.16Oil & Natural Gas corporation Ltd. Oil 1.09Bajaj Finserv Ltd. Finance 1.07Power Grid corporation of India Ltd. Power 1.01UltraTech cement Ltd. cement 0.99coal India Ltd. Minerals/Mining 0.94Sun Pharmaceutical Industries Ltd. Pharmaceuticals 0.92Tech Mahindra Ltd. Software 0.92Wipro Ltd. Software 0.91Indian Oil corporation Ltd. Petroleum Products 0.79Tata Steel Ltd. Ferrous Metals 0.79Bajaj Auto Ltd. Auto 0.76Grasim Industries Ltd. cement 0.75UPL Ltd. Pesticides 0.71Hero Motocorp Ltd. Auto 0.70Adani Ports & Special economic Zone Transportation 0.67Britannia Industries Ltd. consumer Non Durables 0.67Vedanta Ltd. Non - Ferrous Metals 0.66


Bharat Petroleum corporation Ltd. Petroleum Products 0.65Dr Reddys Laboratories Ltd. Pharmaceuticals 0.64Hindalco Industries Ltd. Non - Ferrous Metals 0.63GAIL (India) Ltd. Gas 0.60Tata Motors Ltd. Auto 0.60cipla Ltd. Pharmaceuticals 0.58JSW Steel Ltd. Ferrous Metals 0.58eicher Motors Ltd. Auto 0.55Bharti Infratel Ltd. Telecom - equipment

& Accessories 0.47Indiabulls Housing Finance Ltd. Finance 0.42Yes Bank Ltd. Banks 0.42Zee entertainment enterprises Ltd. Media & entertainment 0.42Sub Total 99.65cash, cash Equivalents and Net current Assets 0.35Grand Total 100.00• Top Ten Holdings, £ co-sponsor

KEY FACTS


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, 2015)



July 17, 2002


Regular Plan - Growth Option 107.2108Direct Plan - Growth Option 108.4114



qUANTiTATiVE DATA


TRACKiNg ERROR

Annualised tracking error is calculated based on daily rolling returns for the last 12 months: 0.07%





EXiT lOAD

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

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


PLANS & OPTIONS

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




Since Inception SIP

15 year SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 2,040.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) 6,462.24 4,367.86 2,144.75 793.99 432.09 127.46 Returns (%) 12.36 11.00 11.20 11.19 12.30 11.95 Benchmark Returns (%) # 14.33 12.54 11.85 11.67 12.78 12.43 Additional Benchmark Returns (%) ## 14.83 12.87 12.18 12.38 14.35 13.67




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 10.89 11.39 12.52 11,089 11,139 11,252Jun 30, 16 Last 3 Years 13.39 13.93 14.83 14,568 14,777 15,130Jun 30, 14 Last 5 Years 10.08 10.53 10.64 16,159 16,490 16,575Jul 17, 02 Since Inception 14.80 17.09 17.73 103,826 145,125 159,209

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 52. 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


0.420.470.600.670.710.941.091.161.291.371.371.742.142.293.985.68

9.4710.3411.13

13.6629.13

0 5 10 15 20 25 30 35

Media & EntertainmentTelecom - Equipment & Accessories

GasTransportation

PesticidesMinerals/Mining

OilConsumer Durables


Telecom - ServicesCement

PharmaceuticalsPower

Construction ProjectAuto

Consumer Non DurablesPetroleum Products

FinanceSoftware

Banks

June 2019 21

CATEgORY OF SCHEME: ExcHANGE TRADED FUND

KEY FACTS

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, 2015)


iNCEPTiON DATE (Date of Allotment)December 09, 2015

NAV (AS ON JUNE 28, 2019) NAV PER UNIT (`)Growth Option 4,124.91

ASSETS UNDER MANAgEMENT j (`) iN CROREAs on June 30, 2019 50.67Average for Month of June, 2019 61.98

qUANTiTATiVE DATAPortfolio Turnover Ratio (Last 1 year) 114.08%

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

TOTAL ExPENSE RATIO (As on June 30, 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 52.

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 June 30, 2019 unless otherwise specified.

PERFORMANCE *^


(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 12.48 12.52 11.39 11,248 11,252 11,139

Jun 30, 16 Last 3 Years 14.79 14.83 13.93 15,114 15,130 14,777


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 52.


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. 31.00 crores

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



































Sub Total 99.67


Grand Total 100.00


PORTFOLIO


0.80

0.96

1.07

1.15

1.46

2.50

4.70

6.28

10.04

10.49

11.51

15.22

33.49

0 5 10 15 20 25 30 35 40


Ferrous Metals

Pharmaceuticals

Oil

Telecom - Services

Power


Auto

Petroleum Products


Finance

Software

Banks

22 June 2019

CATEgORY OF SCHEME: INDEx FUND

KEY FACTS


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, 2015)



July 17, 2002


Regular Plan - Growth Option 349.2291Direct Plan - Growth Option 353.5425



qUANTiTATiVE DATA


TRACKiNg ERROR

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



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


EXiT lOAD

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

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


PLANS & OPTIONS

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




Since Inception SIP

15 year SIP

10 year SIP

5 year SIP

3 year SIP

1 year SIP

Total Amount Invested (` ‘000) 2,040.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) 6,686.68 4,476.99 2,180.48 808.68 441.44 128.16 Returns (%) 12.70 11.29 11.51 11.93 13.79 13.09 Benchmark Returns (%) # 14.83 12.87 12.18 12.38 14.35 13.67 Additional Benchmark Returns (%) ## 14.33 12.54 11.85 11.67 12.78 12.43




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 11.95 12.52 11.39 11,195 11,252 11,139Jun 30, 16 Last 3 Years 14.32 14.83 13.93 14,929 15,130 14,777Jun 30, 14 Last 5 Years 10.22 10.64 10.53 16,259 16,575 16,490Jul 17, 02 Since Inception 15.10 17.73 17.09 108,588 159,209 145,125

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 52. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.



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

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

Riskometer



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

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



































Sub Total 99.46


Grand Total 100.00


PORTFOLIO


0.80

0.96

1.07

1.15

1.45

2.50

4.69

6.27

10.01

10.46

11.48

15.20

33.42

0 5 10 15 20 25 30 35


Ferrous Metals

Pharmaceuticals

Oil

Telecom - Services

Power


Auto

Petroleum Products


Finance

Software

Banks

June 2019 23

CATEgORY OF SCHEME: EqUITY LINKED SAVINGS ScHEME

KEY FACTS


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

CATEgORY OF SCHEME: equity Linked Savings Scheme

FUND MANAgER ¥

Vinay Kulkarni (since November 21, 2006)



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) 2,790.00 1,800.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) $$ 67,623.04 5,386.64 2,188.72 734.86 396.68 125.50 Returns (%) $$ 22.64 13.45 11.58 8.07 6.45 8.77 Benchmark Returns (%) # 14.99 12.39 11.83 10.35 9.23 7.56 Additional Benchmark Returns (%) ## 13.97 12.54 11.85 11.67 12.78 12.43



Returns (%) $$

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 investedScheme (`)

$$Benchmark

(`)#Additional

Benchmark (`)##

Jun 29, 18 Last 1 Year 7.46 6.63 11.39 10,746 10,663 11,139Jun 30, 16 Last 3 Years 11.43 12.80 13.93 13,828 14,343 14,777Jun 30, 14 Last 5 Years 8.22 10.64 10.53 14,841 16,575 16,490Mar 31, 96 Since Inception 23.46 13.78 12.59 1,343,820 201,559 157,673

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 52. 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. 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 4.43


• Vedanta Ltd. Non - Ferrous Metals 2.79






Oracle Financial Ser Software Ltd. Software 1.74



Solar Industries India Ltd. chemicals 1.23

L&T Technology Services Ltd. Software 1.16











Max Financial Services Ltd. Finance 0.53

Torrent Pharmaceuticals Ltd. Pharmaceuticals 0.49

eclerx Services Ltd. Software 0.44


Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.31


ITD cementation India Ltd. construction 0.28


HSIL Ltd. construction 0.24


Sadbhav Infrastructure Project Ltd. (corporate Guarantee of Sadbhav engineering Ltd.) construction Project 0.21


Persistent Systems Ltd. Software 0.12

MPS Ltd. Software 0.06

Siti Networks Ltd. Media & entertainment 0.02

Sub Total 94.97cash, cash Equivalents and Net current Assets 5.03

Grand Total 100.00


PORTFOLIO


0.020.180.520.750.861.111.231.522.632.722.79

4.134.134.43

7.4010.0710.86

12.9026.72

0 5 10 15 20 25 30

Media & EntertainmentAuto Ancillaries

ConstructionMinerals/Mining

TransportationFinance

ChemicalsAuto

Ferrous MetalsIndustrial Capital Goods

Non - Ferrous MetalsConsumer Non Durables

PharmaceuticalsGas

Construction ProjectPetroleum Products

SoftwarePowerBanks

24 June 2019

CATEgORY OF SCHEME: cHILDREN’S FUND

KEY FACTS


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, 2007)

Total Experience - Over 21 years


March 2, 2001


Regular Plan 122.702Direct Plan 129.307



qUANTiTATiVE DATA

Portfolio Turnover Ratio (Last 1 year) 8.76%Average Maturity * 2.55 yearsMacaulay Duration * 1.56 yearsModified Duration * 1.89 yearsYield to Maturity * 7.54%* 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 atleast 5 years or till the child attains age of majority (whichever is earlier)] ΩπHDFC Children's Gift Fund












cholamandalam Investment & Finance Finance 1.59











AIA engineering Ltd. Industrial Products 0.97

Schaeffler India Ltd. Industrial Products 0.95

Finolex Industries Ltd. Industrial Products 0.93

Motherson Sumi Systems Ltd. Auto Ancillaries 0.90


Larsen & Toubro Infotech Ltd. Software 0.85

Supreme Industries Ltd. Industrial Products 0.81


century Plyboards (India) Ltd. consumer Durables 0.76

Sonata Software Ltd. Software 0.75








Ipca Laboratories Ltd. Pharmaceuticals 0.66


eIH Ltd. Hotels/Resorts & Other Recreational Activities 0.64

Indian Bank Banks 0.64

Apollo Tyres Ltd. Auto Ancillaries 0.63

VST Industries Ltd. consumer Non Durables 0.62


cholamandalam Financial Holdings Ltd. Finance 0.54

Swaraj engines Ltd. Industrial Products 0.54

Blue Star Ltd. consumer Durables 0.53

Vesuvius India Ltd. Industrial Products 0.49



Navneet education Ltd. Media & entertainment 0.43


V.S.T Tillers Tractors Ltd. Auto 0.30


Nilkamal Ltd. Industrial Products 0.24

eclerx Services Ltd. Software 0.20

Mcleod Russel India Ltd. consumer Non Durables 0.05

Jyoti Structures Ltd. Power 0.01

Sub Total 65.03

DEBT & DEBT RElATED












Sub Total 6.90

PORTFOLIO

June 2019 25


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

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

Mkt Value As on June 28, 2019 (` ‘000) $ 11,239.78 5,992.41 2,511.88 773.56 410.00 125.45

Returns (%) $ 15.76 14.68 14.16 10.14 8.69 8.69

Benchmark Returns (%) # N.A. 11.33 10.82 10.56 11.13 12.90

Additional Benchmark Returns (%) ## 14.80 12.54 11.85 11.67 12.78 12.43

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(`)##

Jun 29, 18 Last 1 Year 7.67 11.65 11.39 10,767 11,165 11,139

Jun 30, 16 Last 3 Years 11.84 11.91 13.93 13,980 14,007 14,777

Jun 30, 14 Last 5 Years 11.52 10.10 10.53 17,246 16,171 16,490

Mar 02, 01 Since Inception 16.31 N.A. 14.38 159,513 N.A. 117,386

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. 58.


equity 65.03

G-Sec 6.90

credit Exposure 19.23




l capital appreciation over long term.

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

Riskometer




equity 65.03

Sovereign 6.90

AAA/AAA(SO)/A1+/A1+(SO) & equivalent 14.34

AA+ 4.89


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


CREDiT EXPOSURE

• Tata capital Financial Services Ltd. IcRA - AAA 4.05

• Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA 3.56

• L&T Finance Ltd. cARE - AAA 3.52

• Axis Bank Ltd. cRISIL - AA+ 3.45

Mahindra & Mahindra Financial Services Ltd. IND - AAA 1.41

Tata Sons Ltd. cRISIL - AAA 1.27


Hero Fincorp Ltd. IcRA - AA+ 1.05

HDB Financial Services Ltd. cRISIL - AAA 0.53

State Bank of India cRISIL - AA+ 0.39

Sub Total 19.23

Total 26.13


Grand Total 100.00


PORTFOLIOIndustry Allocation of Equity Holding (% of Net Assets)

0.30

0.57

0.65

0.68

0.70

0.78

1.20

1.32

1.47

1.92

2.06

2.22

2.88

3.07

3.42

4.15

6.55

7.34

8.94

14.81

0 2 4 6 8 10 12 14 16

Auto


Ferrous Metals

Media & Entertainment

Power

Construction

Telecom - Services

Pesticides


Pharmaceuticals

Hotels, Resorts & Other Recreational Activities


Consumer Durables

Auto Ancillaries


Petroleum Products

Industrial Products

Finance

Software

Banks

26 June 2019

CATEgORY OF SCHEME: RETIREMENT FUND

KEY FACTS


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

Portfolio Turnover Ratio 5.55%





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 (`)#


(`)##

Jun 29, 18 Last 1 Year 5.47 6.63 11.39 10,547 10,663 11,139Jun 30, 16 Last 3 Years 12.68 12.80 13.93 14,298 14,343 14,777Feb 25, 16 Since Inception 17.56 17.88 18.65 17,163 17,320 17,704

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 52. The Scheme is in existence for more than 3 years but less than 5 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. 65.


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)














cholamandalam Investment & Finance Finance 1.65













Atul Ltd. chemicals 1.19


Bajaj electricals Ltd. consumer Durables 1.16


KeI Industries Ltd. Industrial Products 1.05



Sharda cropchem Ltd. Pesticides 1.00

FINOLEx INDUSTRIES Ltd. Industrial Products 0.97

Timken India Ltd. Industrial Products 0.91



Oriental carbon & chemicals Ltd. chemicals 0.88

Tata Metaliks Ltd. Ferrous Metals 0.87


eIH Ltd. Hotels/Resorts & Other Recreational Activities 0.78



Great eastern Shipping company Ltd. Transportation 0.72



T. V. Today Network Ltd. Media & entertainment 0.66





GNA Axles Ltd. Auto Ancillaries 0.45




Greenply Industries Ltd. consumer Durables 0.28


Mcleod Russel India Ltd. consumer Non Durables 0.12

Sub Total 80.36DEBT & DEBT RElATEDgOVERNMENT SECURiTiES (CENTRAl/STATE)• 6.84 GOI 2022 Sovereign 3.43

• 7.59 GOI 2026 Sovereign 2.10

Sub Total 5.53CREDiT EXPOSURE • Housing and Urban Development corporation Ltd. cARE - AAA 3.54



Sub Total 4.41Total 9.94cash, cash Equivalents and Net current Assets 9.70

Grand Total 100.00


PORTFOLIO


0.120.440.620.660.841.691.701.791.922.202.222.283.093.604.104.325.225.686.206.276.69

18.71

0 2 4 6 8 10 12 14 16 18 20Consumer Non Durables

AutoNon - Ferrous Metals

Industrial Capital GoodsPaper

FertilisersPharmaceuticals

Media & EntertainmentFerrous MetalsTransportation

Auto AncillariesPesticides

PowerHotels, Resorts & Other Recreational Activities

ChemicalsConsumer DurablesPetroleum Products

FinanceIndustrial Products

Construction ProjectSoftware

Banks

June 2019 27


[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)

Company Industry+ / Rating % to

NAV





• Housing Development

Finance corporation Ltd. £ Finance 3.40


• Procter & Gamble Health Ltd. Pharmaceuticals 2.50

Infosys Ltd. Software 2.25



Power Grid corporation of

India Ltd. Power 1.71


chambal Fertilizers &

chemicals Ltd. Fertilisers 1.59




cholamandalam Investment

& Finance Finance 1.29




Sonata Software Ltd. Software 1.19

Sundram Fasteners Ltd. Auto Ancillaries 1.13

Kalpataru Power

Transmission Ltd. Power 1.11

NRB Bearing Ltd. Industrial Products 1.08



Indian Hotels company Ltd. Hotels/Resorts & Other

Recreational Activities 0.88


Mahindra Holidays & Resorts

Ind Ltd.

Hotels/Resorts & Other

Recreational Activities 0.85







Tamilnadu Newsprint &

Papers Ltd. Paper 0.78

Company Industry+ / Rating % to

NAV


crompton Greaves consumer

elec. Ltd. consumer Durables 0.76




Hindustan Petroleum

corporation Ltd. Petroleum Products 0.58

cholamandalam Financial

Holdings Ltd. Finance 0.51

Shaily engineering Plastics Ltd. Industrial Products 0.45


Shree Pushkar chemicals &

Fertilisers Ltd. chemicals 0.40







Sub Total 65.13

DEBT & DEBT RElATED







Sub Total 6.86

CREDiT EXPOSURE

• Power Finance corporation Ltd. cRISIL - AAA 8.10

• Jamnagar Utilities & Power

Pvt. Ltd. (erstwhile Reliance

Utilities & Power Pvt. Ltd.) cARE - AAA 3.29

• State Bank of India cRISIL - AA+ 2.80

Power Grid corporation of

India Ltd. cRISIL - AAA 1.66


Reliance Jio Infocomm Ltd. cRISIL - AAA 0.84

Sub Total 17.85

Total 24.71


Grand Total 100.00


PORTFOLIO

KEY FACTS


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.


FUND MANAgER ¥


Total Experience - Over 21 years &

Shobhit Mehrotra (Debt) (since February 25, 2016)



February 25, 2016





qUANTiTATiVE DATA

Portfolio Turnover Ratio 5.12%Average Maturity * 5.61 yearsMacaulay Duration * 3.02 yearsModified Duration * 3.97 yearsYield to Maturity * 8.18%* computed on the invested amount for debt portfolio.





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.


(The Plan underwent Change in Fundamental Attributes i.e. change in Asset Allocation Pattern w.e.f. March 14, 2019).


28 June 2019


n equity 65.13

n G-Sec 6.86




n equity 65.13n Sovereign 6.86n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent 13.89n AA+ 2.80n A+ & Below 1.16n cash, cash Equivalents and Net

current Assets 10.16



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

Riskometer





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 9.07 11.65 11.39 10,907 11,165 11,139

Jun 30, 16 Last 3 Years 13.26 11.91 13.93 14,518 14,007 14,777

Feb 25, 16 Since Inception 17.23 15.25 18.65 17,005 16,062 17,704

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 debt instruments. The Scheme is in existence for more than 3 years but less than 5 years. For performance of other schemes managed by chirag Setalvad (Equities) and Shobhit Mehrotra (Debt), please refer page 52. 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. 65.


[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)


0.310.380.400.620.780.831.081.301.591.732.382.822.983.653.704.054.955.205.775.97

14.64

0 2 4 6 8 10121416

AutoIndustrial Capital Goods

Non - Ferrous MetalsMedia & Entertainment

PaperFerrous Metals

PesticidesTransportation

FertilisersHotels, Resorts & Other Recreational Activities

Auto AncillariesPower

ChemicalsConsumer Durables

PharmaceuticalsPetroleum Products

Construction ProjectFinance

Industrial ProductsSoftware

Banks

.....Contd from previous page

June 2019 29


KEY FACTS

iNVESTMENT OBjECTiVEThe 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.


FUND MANAgER ¥


Total Experience - Over 21 years &Shobhit Mehrotra (Debt) (since February 26, 2016)


iNCEPTiON DATE (Date of Allotment)February 26, 2016

NAV (AS ON JUNE 28, 2019) NAV PER UNIT (`)Regular Plan 13.3320Direct Plan 14.0286


qUANTiTATiVE DATAAverage Maturity * 4.66 yearsMacaulay Duration * 3.48 yearsModified Duration * 3.50 yearsYield to Maturity * 8.04%* computed on the invested amount for debt portfolio.


#BENCHMARK iNDEX: NIFTY 50 Hybrid composite Debt 15:85 Index##ADDl. BENCHMARK iNDEX: cRISIL 10 Year Gilt Index

EXiT lOADUpon completion of lock-in period: Nil

PLANS & OPTIONSRegular Plan, Direct Plan. Under Each Plan offers Growth Option only.MiNiMUM APPliCATiON AMOUNTPurchase : ` 5,000 and any amount thereafter.Additional Purchase : ` 1,000 and any amount thereafter.

lOCK-iN PERiODExisting 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.¥ Dedicated Fund Manager for Overseas Investments:

Mr. Amar Kalkundrikar (Total Experience: Over 16 years).




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


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 3 years but less than 5 years. For performance of other schemes managed by chirag Setalvad (equities) and Shobhit Mehrotra (Debt), please refer page 52. 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. 65.



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

Riskometer




n equity 18.60

n G-Sec 29.72




n equity 18.60n Sovereign 29.72n AAA/AAA(SO)/A1+/A1+(SO)

& equivalent 23.40n AA+ 6.70n AA/AA- 2.84n A+ & Below 10.19n cash, cash Equivalents and

Net current Assets 8.55

[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)



IcIcI Bank Ltd. Banks 1.61



Sundram Fasteners Ltd. Auto Ancillaries 0.84

Larsen and Toubro Ltd. construction Project 0.76

Reliance Industries Ltd. Petroleum Products 0.75












Avanti Feeds Ltd. consumer Non Durables 0.39




Indiamart Intermesh Ltd. Retailing 0.37


NRB Bearing Ltd. Industrial Products 0.37




Time Technoplast Ltd. Industrial Products 0.35



GNA Axles Ltd. Auto Ancillaries 0.29









Poddar Pigments Ltd. chemicals 0.16



Sub Total 18.60

DEBT & DEBT RElATED


• 7.37 GOI 2023 Sovereign 11.46

• 7.68 GOI 2023 Sovereign 10.81


Sub Total 29.72

CREDiT EXPOSURE

• Indian Railways Finance corp. Ltd. cRISIL - AAA 7.74

• Power Grid corporation of India Ltd. cRISIL - AAA 7.52

• Starlite Lighting Ltd. (corporate Guarantee of Bajaj electrical Ltd.) IcRA - A+(SO) 7.18


• Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA 3.73

• Syndicate Bank cARE - A+ 3.01

• Reliance Jio Infocomm Ltd. cRISIL - AAA 2.88


Power Finance corporation Ltd. cRISIL - AAA 1.53

Sub Total 43.13

Total 72.85


Grand Total 100.00


PORTFOLIO

30 June 2019

CATEgORY OF SCHEME: EqUITY SAVINGS FUND

KEY FACTS

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, 2006)

Total Experience: Over 29 years Krishan Kumar Daga (equities) (since January 08, 2016)

Total Experience: Over 22 yearsAnil Bamboli (Debt) (since September 17, 2004)


iNCEPTiON DATE (Date of Allotment)September 17, 2004



qUANTiTATiVE DATAPortfolio Turnover Ratio 19.90%Average Maturity * 1.96 yearsMacaulay Duration * 1.69 yearsModified Duration * 1.57 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) 1,780.00 1,200.00 600.00 360.00 120.00 Mkt Value As on June 28, 2019 (` ‘000) 3,744.90 1,940.92 746.77 401.20 125.52 Returns (%) 9.42 9.31 8.72 7.21 8.81 Benchmark Returns (%) # N.A. N.A. N.A. N.A. N.A. Additional Benchmark Returns (%) ## 12.38 11.85 11.67 12.78 12.43

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 (`)##

Jun 29, 18 Last 1 Year 7.75 8.81 11.39 10,775 10,881 11,139Jun 30, 16 Last 3 Years 10.38 8.65 13.93 13,441 12,820 14,777Jun 30, 14 Last 5 Years 8.36 8.26 10.53 14,934 14,868 16,490Sep 17, 04 Since Inception 9.33 N.A. 15.28 37,404 N.A. 81,915

^^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. For performance of other schemes managed by Vinay Kulkarni (equities), Krishan Kumar Daga (equities) and Anil Bamboli (Debt), please refer page 52. 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. 65.^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 June 30, 2019 unless otherwise specified. ...contd on next page

PORTFOLIO





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




• Housing Development Finance corporation Ltd. £ Finance 5.60 5.59

• Reliance Industries Ltd. Petroleum Products 5.19 1.09

• IcIcI Bank Ltd. Banks 4.93 0.00

• NTPc Ltd. Power 4.15 0.01

• Infosys Ltd. Software 3.50 0.09

• State Bank of India Banks 3.46 0.29

• Larsen and Toubro Ltd. construction Project 3.08 0.00

HDFc Bank Ltd. Banks 2.54 0.00



Tata Steel Ltd. Ferrous Metals 2.26 2.05

Vedanta Ltd. Non - Ferrous Metals 1.55 0.03

GAIL (India) Ltd. Gas 1.39 0.00

ITc Ltd. consumer Non Durables 1.27 0.14

Aurobindo Pharma Ltd. Pharmaceuticals 1.19 0.70

Sun Pharmaceutical Industries Ltd. Pharmaceuticals 1.19 1.19

Maruti Suzuki India Ltd. Auto 1.14 1.14

Bajaj Finance Ltd. Finance 1.03 1.03

Mahindra & Mahindra Ltd. Auto 1.01 0.79

Dr Reddys Laboratories Ltd. Pharmaceuticals 1.00 1.00

PORTFOLIO


0.020.020.070.140.150.220.240.300.410.550.620.740.770.781.011.131.491.52

3.264.13

4.835.43

10.90

0 2 4 6 8 10 12

Media & EntertainmentTelecom - Services

CementPesticides

Auto AncillariesFerrous Metals

FinanceMinerals/Mining

ChemicalsTransportation

AutoConstruction

PharmaceuticalsOil

Industrial Capital GoodsConsumer Non Durables

GasNon - Ferrous MetalsConstruction Project

SoftwarePetroleum Products

PowerBanks

June 2019 31

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 June 30, 2019 unless otherwise specified.

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



Tata Motors Ltd. Auto 0.85 0.60

LIc Housing Finance Ltd. Finance 0.84 0.84

Oil & Natural Gas corporation Ltd. Oil 0.78 0.00

Titan company Ltd. consumer Durables 0.75 0.75

Shriram Transport Finance company Ltd. Finance 0.74 0.74

DLF Ltd. construction 0.73 0.73

JSW Steel Ltd. Ferrous Metals 0.70 0.69

Tata consultancy Services Ltd. Software 0.65 0.65

Power Grid corporation of India Ltd. Power 0.62 0.03

Bharat Petroleum corporation Ltd. Petroleum Products 0.53 0.00

JMc Projects (India) Ltd. construction 0.52 0.00

Hindalco Industries Ltd. Non - Ferrous Metals 0.51 0.51

L&T Technology Services Ltd. Software 0.48 0.00

The Federal Bank Ltd. Banks 0.48 0.47

Mahindra & Mahindra Financial Services Ltd. Finance 0.45 0.44

Grasim Industries Ltd. cement 0.42 0.42

Gujarat Pipavav Port Ltd. Transportation 0.42 0.00

Tata chemicals Ltd. chemicals 0.41 0.00

Yes Bank Ltd. Banks 0.40 0.40

Multi commodity Exchange of India Ltd. Finance 0.39 0.39

centum Electronics Ltd. Industrial capital Goods 0.38 0.00

Dabur India Ltd. consumer Non Durables 0.38 0.38

Texmaco Rail & engineering Ltd. Industrial capital Goods 0.36 0.00

Adani Power (Mundra) Ltd. (Secured by Shares of Adani Port & SeZ Ltd.) Power 0.35 0.35

Petronet LNG Ltd. Gas 0.35 0.35

Ashok Leyland Ltd. Auto 0.33 0.32

Axis Bank Ltd. Banks 0.32 0.07

cESc Ltd. Power 0.32 0.00

Hindustan Unilever Ltd. consumer Non Durables 0.32 0.32

United Spirits Ltd. consumer Non Durables 0.32 0.32

cipla Ltd. Pharmaceuticals 0.30 0.02

coal India Ltd. Minerals/Mining 0.30 0.00

NHPc Ltd. Power 0.30 0.00

Tata Motors Ltd. DVR Auto 0.29 0.15

UPL Ltd. Pesticides 0.28 0.14

century Textiles & Industries Ltd. cement 0.25 0.25

Ncc Ltd. construction Project 0.25 0.25

escorts Ltd. Auto 0.24 0.24

Newgen Software Technologies Ltd. Software 0.24 0.00

equitas Holdings Ltd. Finance 0.23 0.23

Hero Motocorp Ltd. Auto 0.23 0.23

Power Finance corporation Ltd. Finance 0.22 0.00

Hindustan Petroleum corporation Ltd. Petroleum Products 0.20 0.00

Zee entertainment enterprises Ltd. Media & entertainment 0.20 0.19

ITD cementation India Ltd. construction 0.19 0.00

Ashoka Buildcon Ltd. construction Project 0.18 0.00

The Tata Power company Ltd. Power 0.17 0.17

Apollo Tyres Ltd. Auto Ancillaries 0.15 0.00

Godrej consumer Products Ltd. consumer Non Durables 0.15 0.15

HcL Technologies Ltd. Software 0.15 0.15

Jindal Steel & Power Ltd. Ferrous Metals 0.15 0.15

Asian Paints Ltd. consumer Non Durables 0.14 0.14

cadila Healthcare Ltd. Pharmaceuticals 0.14 0.14

Raymond Ltd. Textile Products 0.14 0.14

Titagarh Wagons Ltd. Industrial capital Goods 0.14 0.00

Ambuja cements Ltd. cement 0.13 0.13

container corporation of India Ltd. Transportation 0.13 0.00

Punjab National Bank Banks 0.12 0.12

Mahanagar Gas Ltd. Gas 0.11 0.01

Tata elxsi Ltd. Software 0.11 0.11

Lupin Ltd. Pharmaceuticals 0.09 0.09



Max Financial Services Ltd. Finance 0.09 0.09

BeML Ltd. Industrial capital Goods 0.08 0.00

Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.08 0.08

Kalpataru Power Transmission Ltd. Power 0.08 0.00

Biocon Ltd. Pharmaceuticals 0.07 0.07

Orient cement Ltd. cement 0.07 0.00

Bharti Airtel Ltd. Telecom - Services 0.06 0.04

Nestle India Ltd. consumer Non Durables 0.06 0.06

Steel Authority of India Ltd. Ferrous Metals 0.06 0.06

Sun TV Network Ltd. Media & entertainment 0.06 0.06

Bharat electronics Ltd. Industrial capital Goods 0.05 0.00

MRF Ltd. Auto Ancillaries 0.05 0.05

United Breweries Ltd. consumer Non Durables 0.05 0.05

Bharat Heavy electricals Ltd. Industrial capital Goods 0.04 0.04

Bajaj Finserv Ltd. Finance 0.03 0.03

Bosch Ltd. Auto Ancillaries 0.03 0.03

NBcc (India) Ltd. construction 0.03 0.00

Siemens Ltd. Industrial capital Goods 0.03 0.03

Tata Global Beverages Ltd. consumer Non Durables 0.03 0.03

Acc Ltd. cement 0.02 0.02

IDBI Bank Ltd. Banks 0.02 0.02

cholamandalam Investment & Finance Finance 0.01 0.01

S chand and company Ltd. Media & entertainment 0.01 0.00

eclerx Services Ltd. Software @

IcIcI Prudential Life Insurance company Ltd. Finance @

MPS Ltd. Software @

Sub Total 67.61

Preference Shares

Zee entertainment enterprises Ltd Media & entertainment @

Sub Total @

Total 67.61

DEBT & DEBT RElATED



Sub Total 1.31

CREDiT EXPOSURE

• Housing Development Finance corporation Ltd. £ cRISIL - AAA / IcRA - AAA 3.74

• Punjab National Bank IND - A 3.64

• State Bank of India cARE - AA+ / cRISIL - AA+ 2.94



Reliance Jio Infocomm Ltd. cRISIL - AAA / IcRA - AAA 1.37

Union Bank of India cARE - AA- / IND - AA 0.99

Mahindra & Mahindra Financial Services Ltd. cARE - AAA / IND - AAA 0.91


Rural Electrification corporation Ltd. cRISIL - AAA 0.90



Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) 0.21

Power Grid corporation of India Ltd. cRISIL - AAA 0.19

Bank of Baroda cARE - AA 0.18

JM Financial Asset Reconstruction company Ltd. IcRA - AA- 0.01

Sub Total 20.31

Total 21.62



Grand Total 100.00

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

Outstanding exposure in derivative instruments (` in crore) 1,568.51

Hedged position in Equity & Equity related instruments

Outstanding derivative exposure (% age) 28.93

PORTFOLIO

32 June 2019

CATEgORY OF SCHEME: cONSERVATIVE HYBRID FUND

KEY FACTS


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, 2003)

Total Experience: Over 27 years &Shobhit Mehrotra (Debt) (since September 1, 2007)



December 26, 2003


Regular Plan - Growth Option 46.5853Regular Plan - Monthly Dividend Option 13.0734Regular Plan - quarterly Dividend Option 13.6944Direct Plan - Growth Option 48.1631Direct Plan - Monthly Dividend Option 13.6723Direct Plan - quarterly Dividend Option 14.3228



qUANTiTATiVE DATA

Average Maturity * 4.59 yearsMacaulay Duration * 3.33 yearsModified Duration * 3.28 yearsYield to Maturity * 8.44%* computed on the invested amount for debt portfolio.




##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 June 30, 2019 unless otherwise specified.




IcIcI Bank Ltd. Banks 2.28










IRB Infrastructure Developers Ltd. construction 0.69













Syndicate Bank Banks 0.41



Texmaco Rail & engineering Ltd. Industrial capital Goods 0.33

Union Bank of India Banks 0.27



Mishra Dhatu Nigam Ltd. Ferrous Metals 0.15


elecon engineering comapny Ltd. Industrial capital Goods 0.02


Tata Motors Ltd. DVR Auto @


Sub Total 24.77

DEBT & DEBT RElATED








GOI 2023 Sovereign 0.24

8.10% Tamil Nadu SDL - Mat 110325 Sovereign 0.09



Sub Total 7.19

CREDiT EXPOSURE

• Rural Electrification corporation Ltd. cARE - AAA / cRISIL - AAA 6.69

• Power Finance corporation Ltd.

cARE - AAA / cRISIL - AAA / IcRA - AAA 5.90

• Reliance Industries Ltd. cRISIL - AAA 4.87

• State Bank of India cRISIL - AA+ / cRISIL - AAA 4.27

• Indian Railways Finance corp. Ltd.

cARE - AAA / cRISIL - AAA 3.54


• National Bank for Agriculture & Rural Development cRISIL - AAA 2.49



TATA International Ltd. cARE - A+ 1.96

Housing and Urban Development corporation Ltd. cARE - AAA 1.70

National Highways Authority of India cRISIL - AAA 1.68


Tata Realty and Infrastructure Ltd. cRISIL - AA 1.63

canara Bank IcRA - AA- 1.59


HPcL-Mittal Energy Ltd. IcRA - AA+ 1.40


LIc Housing Finance Ltd. cRISIL - AAA 1.33

The Tata Power company Ltd. cRISIL - AA- 1.18

Andhra Pradesh expressway Ltd. (NHAI Annuity) IcRA - AAA(SO) 1.07

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

PORTFOLIO

June 2019 33



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) 1,870.00 1,800.00 1,200.00 600.00 360.00 120.00

Mkt Value As on June 28, 2019 (` ‘000) 4,246.70 3,929.74 1,898.81 718.66 393.24 126.33

Returns (%) 9.82 9.75 8.89 7.18 5.86 10.12

Benchmark Returns (%) # 8.84 8.89 8.94 8.65 8.53 13.36

Additional Benchmark Returns (%) ## 6.75 6.86 7.26 7.55 7.23 15.87




(%)

Benchmark Returns

(%)#


Returns (%) ##



Additional Benchmark (`)##

Jun 29, 18 Last 1 Year 9.44 11.65 13.81 10,944 11,165 11,381

Jun 30, 16 Last 3 Years 7.75 8.72 7.04 12,505 12,846 12,261

Jun 30, 14 Last 5 Years 8.09 9.11 8.56 14,752 15,461 15,078


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 52. 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.


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


n equity 24.77

n G-Sec, SDL 7.19

n cP 0.78







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




Kotak Mahindra Bank Ltd. cRISIL - AAA 0.84

Aurous Trust IcRA - A1+ 0.82

Bank of Baroda cARE - AA+ 0.82


Hazaribagh Ranchi expressway Ltd. (NHAI Annuity) cARE - D 0.66

Shriram city Union Finance Ltd. cARE - AA+ 0.40


Volkswagen Finance Private Ltd. IND - AAA 0.33

Vedanta Ltd. cRISIL - AA 0.22

Tata Steel Ltd. cARE - AA- 0.17


Tata Motors Ltd. cARE - AA 0.08

Bharati Telecom Ltd. cRISIL - AA+ 0.05

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

Sub Total 61.08

Total 68.27

MONEY MARKET INSTRUMENTS

CD/CP

Kotak Mahindra Investments Ltd. cRISIL - A1+ 0.78

Sub Total 0.78


Grand Total 100.00

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

PORTFOLIO

34 June 2019

CATEgORY OF SCHEME: ARBITRAGE FUND

KEY FACTS


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


CATEgORY OF SCHEME: Arbitrage Fund

FUND MANAgER ¥

Krishan Kumar Daga (since September 10, 2015)



October 23, 2007


Retail PlanRegular Plan - Growth Option 21.827Regular Plan - Dividend Option 16.212Regular Plan - Quarterly Dividend Option 15.508Direct Plan - Growth Option 22.543Direct Plan - Quarterly Dividend Option 17.083

Wholesale PlanRegular Plan - Growth Option 22.307Regular Plan - Dividend Option 10.376Regular Plan - Monthly Dividend Option 10.801Direct Plan - Growth Option 14.222Direct Plan - Dividend Option 10.769Direct Plan - Monthly Dividend Option 10.484



qUANTiTATiVE DATA

Portfolio Turnover Ratio 125.21%Average Maturity * 231 daysMacaulay Duration * 210 daysModified Duration * 190 daysYield to Maturity * 7.87%* computed on the invested amount for debt portfolio.



#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)

EqUITY



• Sun Pharmaceutical Industries Ltd. Pharmaceuticals

4.38

• Aurobindo Pharma Ltd. Pharmaceuticals 4.29

• Housing Development Finance corporation Ltd. £ Finance

3.29

• Hindustan Unilever Ltd. consumer Non Durables 3.04

• Mahindra & Mahindra Ltd. Auto 2.82

• Maruti Suzuki India Ltd. Auto 1.67




DLF Ltd. construction 1.28



Nestle India Ltd. consumer Non Durables 1.21

Lupin Ltd. Pharmaceuticals 1.17


Dabur India Ltd. consumer Non Durables 1.09

ITc Ltd. consumer Non Durables 1.09

ADANI eNTeRPRISeS LIMTIeD Trading 0.97

Dr Reddys Laboratories Ltd. Pharmaceuticals 0.90

Ncc Ltd. construction Project 0.90




Hindalco Industries Ltd. Non - Ferrous Metals 0.72

Shriram Transport Finance company Ltd. Finance

0.60

Ashok Leyland Ltd. Auto 0.56

century Textiles & Industries Ltd. cement

0.56

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

0.55

Multi commodity Exchange of India Ltd. Finance

0.54


Indiabulls Housing Finance Ltd. Finance 0.53

Marico Ltd. consumer Non Durables 0.53

LIc Housing Finance Ltd. Finance 0.51

Acc Ltd. cement 0.48

Grasim Industries Ltd. cement 0.48

UltraTech cement Ltd. cement 0.45


Petronet LNG Ltd. Gas 0.41

The Tata Power company Ltd. Power 0.40

Hindustan Petroleum corporation Ltd. Petroleum Products

0.39


Bajaj Finserv Ltd. Finance 0.37

Titan company Ltd. consumer Durables 0.35

Raymond Ltd. Textile Products 0.30


Rural electrification corporation Ltd. Finance

0.30

Godrej consumer Products Ltd. consumer Non Durables 0.29


Adani Ports & Special economic Zone Transportation

0.26

Mahindra & Mahindra Financial Services Ltd. Finance

0.26


United Spirits Ltd. consumer Non Durables 0.25

Bharat Financial Inclusion Ltd. Finance 0.23




cadila Healthcare Ltd. Pharmaceuticals 0.21

Divis Laboratories Ltd. Pharmaceuticals 0.20


Glenmark Pharmaceuticals Ltd. Pharmaceuticals 0.16


escorts Ltd. Auto 0.14


Tata elxsi Ltd. Software 0.14

exide Industries Ltd. Auto Ancillaries 0.11


Indraprastha Gas Ltd. Gas 0.10

MRF Ltd. Auto Ancillaries 0.10


L&T Finance Holdings Ltd. Finance 0.09


Motherson Sumi Systems Ltd. Auto Ancillaries 0.08

National Aluminium company Ltd. Non - Ferrous Metals

0.08

Zee entertainment enterprises Ltd. Media & entertainment

0.08

Power Grid corporation of India Ltd. Power

0.07


Bharat Petroleum corporation Ltd. Petroleum Products

0.04

Hindustan Zinc Ltd. Non - Ferrous Metals 0.04

JSW Steel Ltd. Ferrous Metals 0.04

Kajaria ceramics Ltd. construction 0.04

NMDc Ltd. Minerals/Mining 0.04

colgate-Palmolive (I) Ltd. consumer Non Durables 0.03

Oil & Natural Gas corporation Ltd. Oil

0.03

The Federal Bank Ltd. Banks 0.03


Biocon Ltd. Pharmaceuticals 0.02

Arvind Ltd. Textile Products 0.01

Bharti Infratel Ltd.Telecom - equipment & Accessories

0.01

Indian Oil corporation Ltd. Petroleum Products 0.01

Oracle Financial Ser Software Ltd. Software 0.01

Shree cement Ltd. cement 0.01


Ambuja cements Ltd. cement @

Sub Total 67.49

Face Value per Unit: ` 10 unless otherwise specified, + Industry classification as recommended by AMFI, Data is as of June 30, 2019 unless otherwise specified. ....contd on next page

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

June 2019 35


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 (%) ##




(`)##

Jun 29, 18 Last 1 Year 5.93 6.26 11.39 10,593 10,626 11,139Jun 30, 16 Last 3 Years 5.89 5.31 13.93 11,870 11,676 14,777Jun 30, 14 Last 5 Years 6.42 6.15 10.53 13,644 13,472 16,490Oct 23, 07 Since Inception 7.11 N.A. 8.06 22,307 N.A. 24,733

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 52. 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 June 30, 2019 unless otherwise specified.



n equity 67.49n AAA/AAA(SO)/A1+/A1+(SO)




n equity 67.49

n cP 1.35

n cD 2.68



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


DEBT & DEBT RElATED

CREDiT EXPOSURE






IcIcI Bank Ltd. IcRA - AA+ 0.05

Sub Total 6.06



CD/CP

• Bank of Baroda cRISIL - A1+ 2.68

SBI cards & Payment Services P. Ltd. cRISIL - A1+ 1.35

Sub Total 4.03



Grand Total 100.00

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

Outstanding exposure in derivative instruments (` in crore) 2,496.98

Hedged position in Equity & Equity related instruments

Outstanding derivative exposure (% age) 67.70

PORTFOLIOIndustry Allocation of Equity Holding (% of Net Assets)

0.010.030.080.260.260.270.290.310.350.360.620.740.971.041.121.181.32

1.982.12

3.876.787.147.34

8.578.90

11.58

0 2 4 6 8 10 12

Telecom - Equipment & AccessoriesOil

Media & EntertainmentMinerals/Mining

TransportationChemicals

Auto AncillariesTextile Products

Consumer DurablesIndustrial Capital Goods

GasPesticides

TradingNon - Ferrous Metals

PowerFerrous Metals

ConstructionCement

Construction ProjectBanksAuto

SoftwareFinance

Petroleum ProductsConsumer Non Durables

Pharmaceuticals

36 June 2019

CATEgORY OF SCHEME: cORPORATE BOND FUND

KEY FACTSiNVESTMENT OBjECTiVE

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, 2015)



June 29, 2010


Regular Plan - Growth Option 21.2883Regular Plan - Dividend Option 14.4791Regular Plan - quarterly Dividend Option 10.2523Direct Plan - Growth Option 21.4213Direct Plan - Dividend Option 14.7010Direct Plan - quarterly Dividend Option 10.1449



qUANTiTATiVE DATA

Average Maturity * 4.21 yearsMacaulay Duration * 3.22 yearsModified Duration * 3.00 yearsYield to Maturity * 7.94%* 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 (%) ##




(`)##

Jun 29, 18 Last 1 Year 9.98 11.60 13.81 10,998 11,160 11,381Jun 30, 16 Last 3 Years 8.09 8.03 7.04 12,623 12,601 12,261Jun 30, 14 Last 5 Years 8.60 9.06 8.56 15,106 15,427 15,078Jun 29, 10 Since Inception 8.75 8.19 6.75 21,288 20,314 17,999

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 52. 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 June 30, 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 NAVDEBT & DEBT RElATEDgOVERNMENT SECURiTiES (CENTRAl/STATE)7.35 GOI 2024 Sovereign 3.337.26 GOI 2029 Sovereign 2.517.27 GOI 2026 Sovereign 2.087.32 GOI 2024 Sovereign 2.087.42% Maharashtra SDL - Mat 110522 Sovereign 0.417.68 GOI 2023 Sovereign 0.01Sub Total 10.42CREDiT EXPOSURE • LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 8.68• Housing Development

Finance corporation Ltd. £ cRISIL - AAA 6.92• Rural Electrification

corporation Ltd. cRISIL - AAA / IND - AAA 6.66• Reliance Industries Ltd. cRISIL - AAA / IcRA - AAA 6.47• Indiabulls Housing Finance Ltd. cARE - AAA 4.29• National Highways Authority

of India cARE - AAA / cRISIL - AAA 4.19• State Bank of India cRISIL - AAA 4.15• HDB Financial Services Ltd. cARE - AAA / cRISIL - AAA 3.89• Power Finance corporation Ltd. cARE - AAA / cRISIL -

AAA / IcRA - AAA 3.85• National Bank for Agriculture

& Rural Development cRISIL - AAA 3.70Mahindra & Mahindra Financial Services Ltd. IND - AAA 3.69Power Grid corporation of India Ltd. cRISIL - AAA 3.01Indian Railways Finance corp. Ltd. cRISIL - AAA 2.90Bajaj Finance Ltd. cRISIL - AAA / IND - AAA 2.86Bank of Baroda cARE - AAA 2.47Reliance Jio Infocomm Ltd. cRISIL - AAA 2.08Reliable Devices Trust (PTc banked by receivables from Reliance Retail Ltd.) IcRA - AAA(SO) 2.01NTPc Ltd. cRISIL - AAA 1.66

Issuer Rating % to NAV

Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 1.40export - Import Bank of India cRISIL - AAA 1.27Tata Sons Ltd. cRISIL - AAA 1.09Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA 0.75Andhra Pradesh expressway Ltd. (NHAI Annuity) IcRA - AAA(SO) 0.45NHPc Ltd. cARE - AAA 0.42Nabha Power Ltd. (corporate Guarantee of L&T Ltd.) IcRA - AAA(SO) 0.41Larsen and Toubro Ltd. cRISIL - AAA 0.38Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA 0.37Small Industries Development Bank cARE - AAA 0.36Toyota Financial Services India Ltd. cRISIL - AAA 0.24Housing and Urban Development corporation Ltd. cARE - AAA 0.21Gujarat Road and Infra co Ltd. IcRA - AAA(SO) 0.20Kotak Mahindra Prime Ltd. cRISIL - AAA 0.20Sub Total 81.23Total 91.65MONEY MARKET INSTRUMENTSCD/CPNational Bank for Agriculture & Rural Development cRISIL - A1+ 2.32Tata Sons Ltd. cRISIL - A1+ 1.36Bank of Baroda cRISIL - A1+ 0.77Andhra Bank cARE - A1+ 0.39Sub Total 4.84cash, cash Equivalents and Net current Assets 3.51

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 10.42

n cP 1.36

n cD 3.48




n Sovereign 10.42n AAA/AAA(SO)/A1+/A1+(SO)

& equivalent 86.07n cash, cash Equivalents and


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

PORTFOLIO

June 2019 37

CATEgORY OF SCHEME: cREDIT RISK FUND

KEY FACTS


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, 2014)



March 25, 2014


Regular Plan - Growth Option 15.5148Regular Plan - Dividend Option 14.2857Regular Plan - quarterly Dividend Option 10.2588Direct Plan - Growth Option 16.2073Direct Plan - Dividend Option 14.2070Direct Plan - quarterly Dividend Option 10.3777



qUANTiTATiVE DATA


#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.






(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##


The above returns are for Regular Plan - Growth Option. 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. Load is not taken into consideration for computation of performance. For performance of other schemes managed by Shobhit Mehrotra, please refer page 52. 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. 59.


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

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

Riskometer

Investors understand that their principal will be at moderate risk


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


n SDL 0.34

n cP 0.33

n cD 0.92



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

Company Industry+ / Security Rating


DEBT & DEBT RElATED


8.39% Rajasthan SDL - Mat 150322 Sovereign Sovereign 0.34

Sub Total 0.34

CREDiT EXPOSURE

• HPcL-Mittal Energy Ltd. IcRA - AA+ IcRA - AA+ 5.01

• TATA International Ltd. cARE - A+ IcRA - A 4.61

• Vedanta Ltd. cRISIL - AA cRISIL - AA 3.88

• Rural Electrification corporation Ltd. cARE - AAA / cRISIL - AAA cRISIL - AAA 3.46

• Tata Steel Ltd. cARE - AA / cARE - AA- cARE - AA 3.33

• The Tata Power company Ltd. cARE - AA / cRISIL - AA- cRISIL - AA- 3.23

• Punjab National Bank IND - A IND - A 2.94

• Muthoot Finance Ltd. cRISIL - AA / IcRA - AA IcRA - AA- 2.89



• Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA / cRISIL - AAA cRISIL - AAA 2.73

• Talwandi Sabo Power Ltd. (corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) IND - A+ 2.64

Dilip Buildcon Ltd. cRISIL - A cRISIL - A 2.61

HDFc Bank Ltd. cARE - AA+ cRISIL - AAA 2.40

Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA cRISIL - AAA 2.33

Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA / IcRA - AAA cRISIL - AAA 2.09

Tata Sky Ltd. (Subsidiary of Tata Sons) cRISIL - AA cRISIL - AA 1.99

Reliance Jio Infocomm Ltd. cRISIL - AAA cRISIL - AAA 1.85

coastal Gujarat Power Ltd. (corporate Guarantee of Tata Power) cARE - AA(SO) cARE - AA(SO) 1.84

Prism Johnson Ltd. IcRA - A- / IND - A- IcRA - A- 1.81

Face Value per Unit: ` 10 unless otherwise specified, Data is as of June 30, 2019 unless otherwise specified. ≈ Based on long term rating.

38 June 2019



Sadbhav Infrastructure Project Ltd. (corporate Guarantee of Sadbhav engineering Ltd.) cARE - A(SO) cARE - A(SO) 1.73

SANSAR TRUST NOV 2018 (PTc of pools from Shriram Transport Finance company Ltd.) IcRA - AAA(SO) IcRA - AAA(SO) 1.31

JM Financial Asset Reconstruction co. IcRA - AA- cRISIL - AA- 1.29

Bajaj electricals Ltd. IcRA - A+ NA - A+ 1.28

Shriram city Union Finance Ltd. cRISIL - AA cRISIL - AA 1.28

Hindalco Industries Ltd. cRISIL - AA cRISIL - AA 1.14

Primat Infrapower & Multiventures Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd. & Dish TV Ltd.) BRIcKWORKS - BBB BRIcKWORKS - BBB 1.12

MFL Securitisation Trust LxxxI (PTc of pools from Magma Fincorp Ltd.) cRISIL - AAA(SO) cRISIL - AAA(SO) 1.10

Travis March 2019 (Trust) (PTc of pools from Muthoot capital Services Ltd.) cRISIL - AA(SO) cRISIL - AA(SO) 1.07

Reliable Devices Trust (PTc banked by receivables from Reliance Retail Ltd.) IcRA - AAA(SO) IcRA - AAA(SO) 1.05

Indiabulls Housing Finance Ltd. cARE - AAA / cRISIL - AAA cRISIL - AA+ 0.99

GeRA Development Private Ltd. cARE - AA- cARE - AA- 0.97

Power Grid corporation of India Ltd. cRISIL - AAA cRISIL - AAA 0.96

Tata Motors Ltd. cARE - AA cRISIL - AA 0.91

Shriram Transport Finance company Ltd.

cARE - AA+ / cRISIL - AA+ / IND - AA+ cRISIL - AA+ 0.90

Balin March 2019 (PTc of pools from Muthoot Fincorp Ltd.) cRISIL - A1+(SO) INTeRNAL - AA- 0.89

Starlite Lighting Ltd. (corporate Guarantee of Bajaj electrical Ltd.) IcRA - A+(SO) IcRA - A+(SO) 0.88

KEc International Ltd. IcRA - AA- cARE - AA- 0.85

Syndicate Bank cARE - A+ cRISIL - AA 0.84

Simplex Infrastructures Ltd. cARE - A- cARE - A- 0.83

TATA Housing Development co Ltd. IcRA - AA cARE - AA 0.82

Tata Motors Finance Ltd. cARE - AA cRISIL - AA 0.78

Union Bank of India IND - AA cARE - AA- 0.76

LIc Housing Finance Ltd. cRISIL - AAA cRISIL - AAA 0.75

NTPc Ltd. cRISIL - AAA cRISIL - AAA 0.72

Gateway Distriparks Ltd. IND - AA- IND - AA- 0.68

Bharat Petroleum corporation Ltd. cRISIL - AAA cRISIL - AAA 0.67

Axis Bank Ltd. cRISIL - AA+ cRISIL - AAA 0.65

Indostar capital Finance Ltd. cARE - AA- cARE - AA- 0.65

Adani Transmission Ltd. IND - AA+ IND - AA+ 0.58

Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.54

Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.54

Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.54

elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.54

Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.54

SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) BRIcKWORKS - AA-(SO) 0.54

SeI enerstar Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.54

SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.54

Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.54

Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) cARE - AA-(SO) 0.54

Aurous Trust IcRA - A1+ INTERNAL - AA(SO) 0.50

Tata Realty and Infrastructure Ltd. cRISIL - AA cRISIL - AA 0.50



APL Apollo Tubes Ltd. cARE - AA- cARE - AA- 0.47

Nuvoco Vistas corporation Ltd. (100% subsidiary of Nirma Ltd. & erstwhile Lafarge India Ltd.) cRISIL - AA cRISIL - AA 0.44

Au Small Finance Bank Ltd. IND - AA- cARE - A+ 0.41

PNB Housing Finance Ltd. IND - AA+ cRISIL - AA+ 0.41

Andhra Bank cARE - A+ cRISIL - AA 0.40

JM Financial credit Solutions Ltd. IcRA - AA cRISIL - AA 0.35

India Infoline Finance Ltd. IcRA - AA cRISIL - AA 0.34

Inox Air Products Pvt. Ltd. cRISIL - AA cRISIL - AA 0.33

L&T Housing Finance Ltd. cARE - AA+ cARE - AAA 0.33

edisons Infrapower & Multiventures Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd. & Dish TV Ltd.) BRIcKWORKS - BBB BRIcKWORKS - BBB 0.30

Hinduja Leyland Finance Ltd. cARE - AA- cARE - AA- 0.29

Aarti Industries Ltd. cRISIL - AA- cRISIL - AA- 0.27

Motilal Oswal Home Finance Ltd. (Erstwhile Aspire Home Finance corp Ltd.) (Subsidiary of Motilal Oswal Financial Services Ltd.) cRISIL - AA- / IcRA - A+ IcRA - A+ 0.24

Repco Home Finance Ltd. cARE - AA IcRA - AA- 0.19

Arm Infra & Utilities Pvt. Ltd. (Secured with shares of Zee entertainment enterprise Ltd.) BRIcKWORKS - BBB BRIcKWORKS - BBB 0.18

EcL Finance Ltd. cARE - AA cRISIL - AA 0.18

Indian Railways Finance corp. Ltd. cRISIL - AAA cRISIL - AAA 0.17

Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India) cRISIL - AAA(SO) cRISIL - AAA(SO) 0.17

National Highways Authority of India cRISIL - AAA cRISIL - AAA 0.17

Sundaram Finance Ltd. IcRA - AAA IND - AA+ 0.16

Kalpataru Power Transmission Ltd. cRISIL - AA cRISIL - AA 0.15

TMF Holdings Ltd. (Subsidiary of Tata Motors Ltd.) cRISIL - AA cRISIL - AA 0.15

Hazaribagh Ranchi expressway Ltd. (NHAI Annuity) cARE - D cARE - D 0.14

KKR India Financial Services Pvt Ltd. cRISIL - AA+ cRISIL - AA+ 0.14

G R Infraprojects Ltd. cARE - AA- cARE - AA- 0.13

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

Aavas Financiers Ltd. (Formerly known as Au Housing Finance Ltd.) IcRA - A+ cRISIL - A 0.10

Bank of Baroda cARE - AA- cRISIL - AAA 0.07

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

Tata Sons Ltd. cRISIL - AAA cRISIL - AAA 0.03

Sub Total 93.38

TOTAL 93.72


CD/CP

Oriental Bank of commerce cRISIL - A1+ cARE - A+ 0.79

Vedanta Ltd. cRISIL - A1+ cRISIL - AA 0.33

IDFc First Bank Ltd. cRISIL - A1+ IcRA - AA 0.13

Sub Total 1.25


Grand Total 100.00



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 June 30, 2019 unless otherwise specified.

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

PORTFOLIO

June 2019 39

CATEgORY OF SCHEME: BANKING AND PSU FUND

KEY FACTSiNVESTMENT 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, 2014)


iNCEPTiON DATE (Date of Allotment)March 26, 2014



qUANTiTATiVE DATAAverage Maturity * 2.84 yearsMacaulay Duration * 2.33 yearsModified Duration * 2.19 yearsYield to Maturity * 8.40%* 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 Option (Weekly frequency). 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 June 30, 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). 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 referpage 48. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 62.


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

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

Riskometer




DEBT & DEBT RElATED

CREDiT EXPOSURE


• Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA / IcRA - AAA 7.55

• Bank of Baroda cARE - AA / cARE - AA- / cARE - AAA 7.17

• Rural Electrification corporation Ltd. cRISIL - AAA / IND - AAA 7.08

• Power Grid corporation of India Ltd. cRISIL - AAA 6.53

• National Highways Authority of India cRISIL - AAA 6.40

• Food corporation of India (corporate guarantee from Govt of India) cRISIL - AAA(SO) 5.95

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

cARE - AAA(SO) / cRISIL - AAA / cRISIL - AAA(SO) 4.64



Housing Development Finance corporation Ltd. £ cRISIL - AAA / IcRA - AAA 4.31

TATA International Ltd. cARE - A+ 3.92

State Bank of India cRISIL - AA+ / cRISIL - AAA 2.43

LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 2.22

export - Import Bank of India cRISIL - AAA 2.13




NTPc Ltd. cRISIL - AAA 1.55




Indian Railways Finance corp. Ltd. cRISIL - AAA 0.77


Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) 0.36

Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) 0.36

elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) 0.36

Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) 0.36

SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) 0.36

SeI enerstar Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.36

SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) 0.36

Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) 0.36

Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) 0.36


Sub Total 90.49


CD/CP

• IDFc First Bank Ltd. cRISIL - A1+ 4.62

Axis Bank Ltd. cRISIL - A1+ 0.75

Sub Total 5.37


Grand Total 100.00




n cD 5.37




n AAA/AAA(SO)/A1+/A1+(SO) & equivalent 66.78

n AA+ 1.78n AA/AA- 15.67n A+ & Below 11.63n 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

PORTFOLIO

40 June 2019

CATEgORY OF SCHEME: GILT FUND


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, 2007)



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 (%) ##




(`)##

Jun 29, 18 Last 1 Year 10.12 13.15 13.81 11,012 11,315 11,381Jun 30, 16 Last 3 Years 6.98 7.87 7.04 12,241 12,547 12,261Jun 30, 14 Last 5 Years 9.14 9.25 8.56 15,483 15,558 15,078Jul 25, 01 Since Inception 7.77 8.33 N.A. 38,261 42,023 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 52. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 62.


l 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 79.97



n Sovereign 79.97n 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 18.30




• 8.60% Rajasthan SDL- Mat 061128 Sovereign 4.44

• 8.59% Andhra Pradesh SDL - Mat 230123 Sovereign 4.29

• 8.60% Madhya Pradesh SDL - Mat 230123 Sovereign 4.29

• 8.21% Rajasthan (UDAY) SDL - Mat 310322 Sovereign 4.21

• 8.61% Uttar Pradesh SDL (UDAY) - Mat 210322 Sovereign 3.26






8.39% Rajasthan SDL - Mat 150322 Sovereign 2.12

8.21% Haryana SDL - Mat 310322 Sovereign 2.10

8.66% Maharashtra SDL - Mat 250122 Sovereign 1.28






Sub Total 75.87

T-BillS

• 182 Days TBill - Mat 010819 Sovereign 4.10

Sub Total 4.10

Total 79.97


Grand Total 100.00


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

PORTFOLIO

June 2019 41

CATEgORY OF SCHEME: DYNAMIc BOND FUND


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, 2004)



April 28, 1997


Regular Plan - Growth Option 60.1000Regular Plan - quarterly Dividend Option 11.5225Regular Plan - Half-Yearly Dividend Option 11.0970Regular Plan - Yearly Dividend Option 12.4200Regular Plan - Normal Dividend Option 12.8753Direct Plan - Growth Option 63.0470Direct Plan - quarterly Dividend Option 12.1401Direct Plan - Half-Yearly Dividend Option 12.1786Direct Plan - Yearly Dividend Option 13.1016Direct Plan - Normal Dividend Option 13.2749



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 (%) ##




(`)##

Jun 29, 18 Last 1 Year 3.26 11.60 13.81 10,326 11,160 11,381Jun 30, 16 Last 3 Years 4.67 8.03 7.04 11,466 12,601 12,261Jun 30, 14 Last 5 Years 7.01 9.06 8.56 14,028 15,427 15,078Apr 28, 97 Since Inception 8.42 N.A. N.A. 60,100 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 52. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 62.


l income over 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 23.81





& equivalent 44.41n AA/AA- 13.38n A+ & Below 13.51n 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 6.85


• 8.39% Rajasthan SDL - Mat 150322 Sovereign 3.88

8.21% Haryana SDL - Mat 310322 Sovereign 3.86

7.42% Maharashtra SDL - Mat 110522 Sovereign 1.98

8.68% Gujarat SDL - Mat 060223. Sovereign 0.79



8.51% Punjab SDL - Mat 100423 Sovereign 0.12


8.26% Maharashtra SDL - ISD 120815 Mat 120825 Sovereign 0.10

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

Sub Total 23.81

CREDiT EXPOSURE

• Power Finance corporation Ltd. cARE - AAA 9.76

• Union Bank of India cARE - AA- 8.90

• Reliance Industries Ltd. cRISIL - AAA 7.86

• State Bank of India cRISIL - AAA 7.72

• Hazaribagh Ranchi expressway Ltd. (NHAI Annuity) cARE - D 6.12



• Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India) cARE - AAA(SO) 4.00

Rural electrification corporation Ltd. IND - AAA 3.72




Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cRISIL - AAA 2.17


Housing Development Finance corporation Ltd. £ IcRA - AAA 1.51

Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA 0.78


NTPc Ltd. cRISIL - AAA 0.10

Sub Total 71.30

Total 95.11


Grand Total 100.00

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


PORTFOLIO

42 June 2019

CATEgORY OF SCHEME: MEDIUM TO LONG DURATION FUND

KEY FACTS


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, 2007)



September 11, 2000


Regular Plan - Growth Option 41.1840Regular Plan - quarterly Dividend Option 11.0211Regular Plan - Normal Dividend Option 12.9866Direct Plan - Growth Option 43.2450Direct Plan - quarterly Dividend Option 11.6552Direct Plan - Normal Dividend Option 13.6756



qUANTiTATiVE DATA

Average Maturity * 5.77 yearsMacaulay Duration * 3.82 yearsModified Duration * 4.05 yearsYield to Maturity * 8.33%* computed on the invested amount for debt portfolio.





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 (%) ##




(`)##

Jun 29, 18 Last 1 Year 8.70 11.60 13.81 10,870 11,160 11,381Jun 30, 16 Last 3 Years 5.81 8.03 7.04 11,844 12,601 12,261Jun 30, 14 Last 5 Years 7.57 9.06 8.56 14,401 15,427 15,078Sep 11, 00 Since Inception 7.82 N.A. N.A. 41,184 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 Shobhit Mehrotra, please refer page 52. 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. 59.



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 18.74







[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








9.15 GOI 2024 Sovereign @

Sub Total 18.74

CREDiT EXPOSURE

• The Tata Power company Ltd. cRISIL - AA- 9.28

• Indian Railways Finance corp. Ltd.

cARE - AAA / cRISIL - AAA 9.10

• NTPc Ltd. cRISIL - AAA 8.67





• Tata Steel Ltd. cARE - AA- 4.24

• National Highways Authority of India cRISIL - AAA 4.22

Rural electrification corporation Ltd. cRISIL - AAA 4.18

export - Import Bank of India cRISIL - AA+ 4.08



Sub Total 67.23

Total 85.97


Grand Total 100.00

• Top Ten Holdings, @ less than 0.01%

PORTFOLIO

June 2019 43

CATEgORY OF SCHEME: MEDIUM DURATION FUND



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 8.33 9.04 7.93 10,833 10,904 10,793Jun 30, 16 Last 3 Years 7.46 7.51 6.76 12,405 12,422 12,163Jun 30, 14 Last 5 Years 8.03 8.20 7.29 14,712 14,826 14,215Feb 06, 02 Since Inception 7.91 N.A. 6.08 37,609 N.A. 27,911

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 52. 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. 59.

KEY FACTS


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, 2007)



February 6, 2002


Regular Plan - Growth Option 37.6085Regular Plan - Dividend Option 14.2696Regular Plan - Fortnightly Dividend Option 10.5799Direct Plan - Growth Option 39.0574Direct Plan - Dividend Option 14.6224Direct Plan - Fortnightly Dividend Option 10.6128



qUANTiTATiVE DATA






EXiT lOAD

Nil

PLANS & OPTIONS

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






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

investments in Debt and Money Market Instruments

Riskometer




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


DEBT & DEBT RElATED



Sub Total 1.98

CREDiT EXPOSURE


• Rural Electrification corporation Ltd. cRISIL - AAA 8.64

• Jamnagar Utilities & Power Pvt. Ltd. (erstwhile Reliance Utilities & Power Pvt. Ltd.) cARE - AAA 6.01

• Housing Development Finance corporation Ltd. £ cRISIL - AAA 4.87


• HDFc Bank Ltd. cARE - AA+ 4.82

• Housing and Urban Development corporation Ltd. IcRA - AAA 4.82

• HPcL-Mittal Energy Ltd. IcRA - AA+ 4.30


• Muthoot Finance Ltd. IcRA - AA 3.75


Reliable Devices Trust (PTc banked by receivables from Reliance Retail Ltd.) IcRA - AAA(SO) 2.59

NHPc Ltd. cARE - AAA 2.49

coastal Gujarat Power Ltd. (corporate Guarantee of Tata Power) cARE - AA(SO) 2.43

Indiabulls Housing Finance Ltd. cRISIL - AAA 2.42




JM Financial Asset Reconstruction company IcRA - AA- 2.01


Talwandi Sabo Power Ltd. (corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) 1.89


Sikka Port and Terminal Ltd. (erstwhile Reliance Ports and Terminals Ltd.) cARE - AAA 1.82

Mahanagar Telephone Nigam Ltd. (corporate guarantee from Govt of India) cRISIL - AAA(SO) 0.99



Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) 0.44

Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) 0.44

Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) 0.44

elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) 0.44

Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) 0.44

SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) 0.44

SeI enerstar Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.44

SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) 0.44

Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) 0.44

Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) 0.44


Sub Total 90.56

Total 92.54


Grand Total 100.00


PORTFOLIO


n G-Sec 1.98




n Sovereign 1.98n AAA/AAA(SO)/A1+/A1+(SO) &

equivalent 54.48n AA+ 9.12n AA/AA- 19.40n A+ & Below 7.56n cash, cash Equivalents and Net

current Assets 7.46

44 June 2019

CATEgORY OF SCHEME: SHORT DURATION FUND



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 8.75 9.04 7.93 10,875 10,904 10,793Jun 30, 16 Last 3 Years 7.62 7.51 6.76 12,461 12,422 12,163Jun 30, 14 Last 5 Years 8.22 8.20 7.29 14,838 14,826 14,215Jun 25, 10 Since Inception 8.60 8.16 6.93 21,034 20,274 18,300

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 52. 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: ` 10 unless otherwise specified, cD - certificate of Deposit; cP - commercial Papers. Data is as of June 30, 2019 unless otherwise specified.

KEY FACTS


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, 2010)



June 25, 2010


Regular Plan - Growth Option 21.0335Regular Plan - Fortnightly Dividend Option 10.2196Regular Plan - Normal Dividend Option 14.1422Direct Plan - Growth Option 21.2364Direct Plan - Fortnightly Dividend Option 10.2797Direct Plan - Normal Dividend Option 14.1955



qUANTiTATiVE DATA






EXiT lOAD

Nil

PLANS & OPTIONS

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






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

Riskometer




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


DEBT & DEBT RElATED


8.60% Madhya Pradesh SDL - Mat 230123 Sovereign 0.65


8.38% Gujarat SDL - Mat 270229 Sovereign 0.13


8.39% Rajasthan SDL - Mat 150320 Sovereign 0.05

Sub Total 1.22

CREDiT EXPOSURE

• Power Finance corporation Ltd. cARE - AAA / cRISIL - AAA 10.22

• Rural Electrification corporation Ltd. cRISIL - AAA / IND - AAA 8.52

• National Bank for Agriculture & Rural Development cRISIL - AAA / IND - AAA 8.31


• Housing Development Finance corporation Ltd. £ cRISIL - AAA / IcRA - AAA 6.42


• Reliance Jio Infocomm Ltd. cRISIL - AAA / cRISIL - AAA(SO) / IcRA - AAA 5.21

• Housing and Urban Development corporation Ltd.

cARE - AAA / IcRA - AAA / IND - AAA 5.15

• Reliance Industries Ltd. cRISIL - AAA / IcRA - AAA 3.44


National Highways Authority of India cARE - AAA / cRISIL - AAA 2.54

State Bank of India cRISIL - AAA 2.50


Larsen and Toubro Ltd. cRISIL - AAA 2.21

Indian Railways Finance corp. Ltd. cRISIL - AAA / IcRA - AAA 2.05


Bajaj Finance Ltd. cRISIL - AAA / IND - AAA 1.25

cholamandalam Investment & Finance IcRA - AA+ 1.25

John Deere Financial India Private Ltd. cRISIL - AAA 1.25


SANSAR TRUST NOV 2018 (PTc of pools from Shriram TransportFinance company Ltd.) IcRA - AAA(SO) 1.25

Sundaram Finance Ltd. cRISIL - AAA 1.25


Mahindra & Mahindra Financial Services Ltd. IND - AAA 1.06



Fullerton India Home Finance company Ltd. cARE - AA+ 0.63

Talwandi Sabo Power Ltd. (corporate Guarantee of Vedanta Ltd.) cRISIL - AA(SO) 0.62

Shriram city Union Finance Ltd. cRISIL - AA 0.60



canFin Homes Ltd. IcRA - AA+ 0.43

Aditya Birla Finance Ltd. IcRA - AAA / IND - AAA 0.38


Toyota Financial Services India Ltd. cRISIL - AAA 0.31

Bank of Baroda cARE - AA- 0.25

NHPc Ltd. IcRA - AAA 0.25


Sub Total 92.14

Total 93.36


CD/CP

Indusind Bank Ltd. cRISIL - A1+ 1.19

IDFc First Bank Ltd. cRISIL - A1+ 1.13

Sub Total 2.32


Grand Total 100.00


PORTFOLIO


n G-Sec, SDL 1.22

n cD 2.32







June 2019 45

CATEgORY OF SCHEME: LOW DURATION FUND

KEY FACTSiNVESTMENT OBjECTiVETo 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 ¥



iNCEPTiON DATE (Date of Allotment)November 18, 1999

NAV (AS ON JUNE 28, 2019) NAV PER UNIT (`)Regular Plan - Growth Option 39.8163Regular Plan - Daily Dividend Reinvestment Option 10.1428Regular Plan - Weekly Dividend Option 10.1603Regular Plan - Monthly Dividend Option 10.1423Direct Plan - Growth Option 41.6440Direct Plan - Daily Dividend Reinvestment Option 10.0655Direct Plan - Weekly Dividend Option 10.1904Direct Plan - Monthly Dividend Option 10.1454


qUANTiTATiVE DATAAverage Maturity * 318 daysMacaulay Duration * 299 daysModified Duration * 266 daysYield to Maturity * 7.69%* computed on the invested amount.


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

EXiT lOADNil

PLANS & OPTIONSRegular Plan, Direct Plan. 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.

MiNiMUM APPliCATiON AMOUNTFor all Options (except Daily Dividend 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.




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 7.75 7.60 7.93 10,775 10,760 10,793Jun 30, 16 Last 3 Years 7.18 7.16 6.76 12,307 12,301 12,163Jun 30, 14 Last 5 Years 7.45 7.62 7.29 14,321 14,437 14,215Nov 18, 99 Since Inception 7.30 N.A. 6.51 39,816 N.A. 34,457

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 52. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.




l to generate income / capital appreciation through investmentin debt securities and money market instruments

Riskometer



Portfolio Classification by Asset Class (%)

n G-Sec, SDL 1.75

n cP 8.59

n cD 34.63



Portfolio Classification by Rating Class (%)



current Assets 2.85

[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)7.32 GOI 2024 Sovereign 0.847.27 GOI 2026 Sovereign 0.507.35 GOI 2024 Sovereign 0.347.65% Karnataka SDL - Mat 061227 Sovereign 0.07Sub Total 1.75CREDiT EXPOSURE • Housing Development

Finance corporation Ltd. £ cRISIL - AAA 8.10• LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 6.92• National Housing Bank cARE - AAA 3.97• Power Finance corporation Ltd. cRISIL - AAA 3.91• National Bank for Agriculture

& Rural Development cRISIL - AAA / IND - AAA 3.42Rural electrification corporation Ltd. cRISIL - AAA 2.75Bajaj Finance Ltd. IND - AAA 2.11Nuvoco Vistas corporation Ltd. (100% subsidiary of Nirma Ltd. & erstwhile Lafarge India Ltd.) cRISIL - AA 1.92Small Industries Development Bank cARE - AAA 1.49Union Bank of India cARE - AA- 1.38Bank of Baroda cARE - AA / cARE - AA- 1.34Reliable Devices Trust (PTc banked by receivables from Reliance Retail Ltd.) IcRA - AAA(SO) 1.28Petronet LNG Ltd. cRISIL - AAA 1.16Syndicate Bank cARE - A+ 1.14canara Bank cRISIL - AA 1.12State Bank of India cRISIL - AA+ 0.99Punjab National Bank IND - A 0.95Shriram Transport Finance company Ltd. cRISIL - AA+ / IND - AA+ 0.93Tata Motors Ltd. cARE - AA 0.83Housing and Urban Development corporation Ltd. IcRA - AAA 0.73Power Grid corporation of India Ltd. cRISIL - AAA 0.68TATA capital Housing Finance Ltd. cRISIL - AAA 0.66Axis Bank Ltd. cRISIL - AA+ 0.64Shriram city Union Finance Ltd. cRISIL - AA 0.63Vedanta Ltd. cRISIL - AA 0.52TMF Holdings Ltd. (Subsidiary of Tata Motors Ltd.) cRISIL - AA 0.40export - Import Bank of India cRISIL - AAA 0.33The Tata Power company Ltd. IcRA - AA- 0.33Volkswagen Finance Private Ltd. IND - AAA 0.33KKR India Financial Services Pvt Ltd. cRISIL - AA+ 0.28Hinduja Leyland Finance Ltd. cARE - AA- 0.23L&T Finance Ltd. cARE - AAA 0.16Indian Railways Finance corp. Ltd. cRISIL - AAA 0.13NTPc Ltd. cRISIL - AAA 0.06


Aarish Solar Power Private Ltd. (Greenko) cARE - AA-(SO) 0.03Aashman energy Private Ltd. (Greenko) cARE - AA-(SO) 0.03Divyesh Power Private Ltd. (Greenko) cARE - AA-(SO) 0.03elena Renewable energy Private Ltd.(Greenko) cARE - AA-(SO) 0.03Mahindra & Mahindra Financial Services Ltd. IND - AAA 0.03Pratyash Renewable Private Ltd. (Greenko) cARE - AA-(SO) 0.03Reliance Jio Infocomm Ltd. cRISIL - AAA 0.03SeI Baskara Power Private Ltd. (Greenko) cARE - AA-(SO) 0.03SeI enerstar Renewable energy Pvt Ltd. (Greenko) cARE - AA-(SO) 0.03SeI Mihir energy Private Ltd. (Greenko) cARE - AA-(SO) 0.03Shreyas Renewable energy Private Ltd. (Greenko) cARE - AA-(SO) 0.03Zuvan energy Private Ltd. (Greenko) cARE - AA-(SO) 0.03Sub Total 52.18Total 53.93MONEY MARKET INSTRUMENTSCD/CP • Small Industries

Development BankcARE - A1+ / cRISIL - A1+ / IcRA - A1+ 5.52

• National Bank for Agriculture & Rural Development cRISIL - A1+ / IND - A1+ 5.46

• Axis Bank Ltd. cRISIL - A1+ 5.07• Indusind Bank Ltd. cRISIL - A1+ 3.19• Export - Import Bank of India cRISIL - A1+ 3.14IcIcI Bank Ltd. cRISIL - A1+ / IcRA - A1+ 2.52Bank of Baroda cRISIL - A1+ 2.51canFin Homes Ltd. cARE - A1+ / IcRA - A1+ 2.23The Federal Bank Ltd. cARE - A1+ 2.04Punjab National Bank cARE - A1+ 1.88LIc Housing Finance Ltd. cRISIL - A1+ 1.73IDFc First Bank Ltd. cRISIL - A1+ 1.58Kotak Mahindra Bank Ltd. cRISIL - A1+ 1.43Tata Motors Ltd. cRISIL - A1+ 1.30Tata Sons Ltd. cRISIL - A1+ 1.10cooperatieve Rabobank U.A cRISIL - A1+ 0.94Hero Fincorp Ltd. cRISIL - A1+ 0.64Deutsche Investments India Pvt Ltd. cRISIL - A1+ 0.62Kotak Mahindra Investments Ltd. cRISIL - A1+ 0.32Sub Total 43.22cash, cash Equivalents and Net current Assets 2.85Grand Total 100.00• Top Ten Holdings, £ co-sponsor


PORTFOLIO

46 June 2019

CATEgORY OF SCHEME: MONEY MARKET FUND

KEY FACTS


To generate income / capital appreciation by investing in money market instruments.


CATEgORY OF SCHEME: Money Market Fund

FUND MANAgER ¥

Anil Bamboli (since July 25, 2012)



November 18, 1999


Regular Plan - Growth Option 3,955.9024Regular Plan - Daily Dividend Reinvestment Option 1,063.6400Regular Plan - Weekly Dividend Option 1,063.5498Direct Plan - Growth Option 3,993.2622Direct Plan - Daily Dividend Reinvestment Option 1,063.6400Direct Plan - Weekly Dividend Option 1,063.5903



qUANTiTATiVE DATA

Average Maturity * 237 daysMacaulay Duration * 237 daysModified Duration * 212 daysYield to Maturity * 7.43%* computed on the invested amount.



#BENCHMARK iNDEX: cRISIL Liquid Fund Index


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 (%) ##




(`)##

Jun 29, 18 Last 1 Year 8.07 7.60 7.93 10,807 10,760 10,793Jun 30, 16 Last 3 Years 7.15 7.16 6.76 12,299 12,301 12,163Jun 30, 14 Last 5 Years 7.64 7.62 7.29 14,447 14,437 14,215Nov 18, 99 Since Inception 7.28 N.A. 6.51 39,695 N.A. 34,457

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 52. 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 June 30, 2019 unless otherwise specified.

n cP 45.54

n cD 54.08







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

• Tata Sons Ltd. cRISIL - A1+ 8.79

• Small Industries Development Bank

cARE - A1+ / cRISIL - A1+ / IcRA - A1+ 8.78


• Rural Electrification corporation Ltd. cARE - A1+ 7.56

• LIc Housing Finance Ltd. cRISIL - A1+ / IcRA - A1+ 6.77

• Indian Bank cRISIL - A1+ 5.87

• Power Finance corporation Ltd. cRISIL - A1+ 5.85

• Indusind Bank Ltd. cRISIL - A1+ 4.92

• Andhra Bank cARE - A1+ 4.77

• cholamandalam Investment & Finance IcRA - A1+ 4.49


canFin Homes Ltd. IcRA - A1+ 4.17

Punjab National Bank cARE - A1+ 3.35


Deutsche Investments India Pvt Ltd. cRISIL - A1+ 2.88

Au Small Finance Bank Ltd. cRISIL - A1+ 2.62



The Federal Bank Ltd. cARE - A1+ 2.52

cooperatieve Rabobank U.A cRISIL - A1+ 2.50

Bank of Baroda cRISIL - A1+ 1.67

Kotak Mahindra Prime Ltd. cRISIL - A1+ 1.67

Kotak Mahindra Bank Ltd. cRISIL - A1+ 1.26

L&T Finance Ltd. cARE - A1+ 0.42

Oriental Bank of commerce cRISIL - A1+ 0.42

Sundaram BNP Paribas Home Finance Ltd. cRISIL - A1+ 0.42

Sub Total 99.62


Grand Total 100.00


PORTFOLIO

June 2019 47

CATEgORY OF SCHEME: FLOATER FUND

KEY FACTS

iNVESTMENT OBjECTiVETo 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)


iNCEPTiON DATE (Date of Allotment)October 23, 2007

NAV (AS ON JUNE 28, 2019) NAV PER UNIT (`)Regular Plan - Growth Option 33.1004Regular Plan - Daily Dividend Reinvestment Option 10.0772Regular Plan - Weekly Dividend Option 10.1333Regular Plan - Monthly Dividend Option 10.1421Direct Plan - Growth Option 33.3169Direct Plan - Daily Dividend Reinvestment Option 10.0772Direct Plan - Weekly Dividend Option 10.1335Direct Plan - Monthly Dividend Option 10.1422


qUANTITATiVE DATAAverage Maturity * 332 daysMacaulay Duration * 237 daysModified Duration * 212 daysYield to Maturity * 7.91%* computed on the invested amount.




EXiT lOADNil

PLANS & OPTIONSRegular 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).

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





(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 29, 18 Last 1 Year 8.15 7.60 7.93 10,815 10,760 10,793Jun 30, 16 Last 3 Years 7.60 7.16 6.76 12,453 12,301 12,163Jun 30, 14 Last 5 Years 8.12 7.62 7.29 14,771 14,437 14,215Oct 23, 07 Since Inception 8.20 7.54 6.51 25,110 23,385 20,892

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 52. 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. 59.


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 2.51

n cP 4.95

n cD 33.81






current Assets 3.77

[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





7.65% Karnataka SDL - Mat 061227 Sovereign 0.18


7.69% Gujarat SDL - Mat 201227 Sovereign @

Sub Total 2.51

CREDiT EXPOSURE


• Housing Development Finance corporation Ltd. £ cRISIL - AAA 7.00


• Axis Bank Ltd. cRISIL - A1+ / cRISIL - AA+ 4.68

• Shriram city Union Finance Ltd. cARE - AA+ 4.41

• National Housing Bank cARE - AAA 4.40

National Bank for Agriculture & Rural Development cRISIL - AAA / IND - AAA 3.41




Shriram Transport Finance company Ltd. IND - AA+ 2.21

Housing and Urban Development corporation Ltd. IcRA - AAA 1.34

State Bank of India cARE - AA+ / cRISIL - AA+ 1.01



HPcL-Mittal Energy Ltd. IcRA - AA+ 0.75

Indiabulls Housing Finance Ltd. cARE - AAA 0.67



Volkswagen Finance Private Ltd. IND - AAA 0.45

Bharti Airtel Ltd. cRISIL - AA 0.44

Gujarat Road and Infra co Ltd. cARE - AAA(SO) 0.44


Reliance Industries Ltd. cRISIL - AAA 0.05

Tata Sons Ltd. cRISIL - AAA 0.04

Sub Total 54.96

Total 57.47


CD/CP

• Small Industries Development Bank

cARE - A1+ / cRISIL - A1+ / IcRA - A1+ 6.44

• National Bank for Agriculture & Rural Development cRISIL - A1+ 5.61

• IcIcI Bank Ltd. cRISIL - A1+ / IcRA - A1+ 5.13

• Export - Import Bank of India cRISIL - A1+ 4.26

• Indusind Bank Ltd. cRISIL - A1+ 2.68



Punjab National Bank cARE - A1+ 1.92

JM Financial credit Solutions Ltd. IcRA - A1+ 1.51

Andhra Bank cARE - A1+ 1.32

LIc Housing Finance Ltd. cRISIL - A1+ / IcRA - A1+ 1.08


Power Finance corporation Ltd. cRISIL - A1+ 0.88



Rural Electrification corporation Ltd. cARE - A1+ 0.43

Sub Total 38.76


Grand Total 100.00

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

Outstanding exposure in derivative instruments Interest Rate Swap (` in crore) 5,900.00

PORTFOLIO

48 June 2019

CATEgORY OF SCHEME: ULTRA SHORT DURATION FUND


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, 2018)



September 25, 2018


Regular Plan - Growth Option 10.6482Regular Plan - Daily Dividend Reinvestment Option 10.0500Regular Plan - Weekly Dividend Option 10.0558Regular Plan - Monthly Dividend Option 10.0639Direct Plan - Growth Option 10.6738Direct Plan - Daily Dividend Reinvestment Option 10.0500Direct Plan - Weekly Dividend Option 10.0562Direct Plan - Monthly Dividend Option 10.0562



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).






l income over short terml income/capital appreciation through investment in debt

securities and money market instruments

Riskometer




n cP 31.20

n cD 26.48





n AA/AA- 0.15n A+ & Below 0.87


[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

• Housing Development Finance corporation Ltd. £

cRISIL - AAA / IcRA - AAA 7.92


• Rural Electrification corporation Ltd. cRISIL - AAA 6.52

• National Housing Bank cARE - AAA 3.66

National Bank for Agriculture & Rural Development cRISIL - AAA / IND - AAA 3.52




Bajaj Finance Ltd. IND - AAA 1.35


HDB Financial Services Ltd. NA - NA 0.87

UltraTech cement Ltd. cRISIL - AAA 0.53

Kotak Mahindra Prime Ltd. cRISIL - AAA 0.44

cholamandalam Investment & Finance IcRA - AA+ 0.15

Sub Total 38.63


CD/CP


• Punjab National Bank cARE - A1+ 4.18

• IDFc First Bank Ltd. cRISIL - A1+ 4.16

• Housing and Urban Development corporation Ltd. IND - A1+ 3.61

• Vedanta Ltd. cRISIL - A1+ 3.61

• Small Industries Development Bank cARE - A1+ 3.53


cholamandalam Investment & Finance IcRA - A1+ 3.18



Andhra Bank cARE - A1+ 2.23

Toyota Financial Services India Ltd. cRISIL - A1+ 2.16


IcIcI Bank Ltd. IcRA - A1+ 1.74

Indian Bank cRISIL - A1+ 1.74

LIc Housing Finance Ltd. cRISIL - A1+ / IcRA - A1+ 1.74

Tata Sons Ltd. cRISIL - A1+ 1.74

TATA capital Housing Finance Ltd. cRISIL - A1+ 1.44

UPL Ltd. cRISIL - A1+ 1.44

Kotak Mahindra Bank Ltd. cRISIL - A1+ 1.40




Sundaram BNP Paribas Home Finance Ltd. cRISIL - A1+ 0.72

Hero Fincorp Ltd. cRISIL - A1+ 0.71

Tata capital Financial Services Ltd. IcRA - A1+ 0.71

Indusind Bank Ltd. cRISIL - A1+ 0.49



Sub Total 57.68


Grand Total 100.00



PORTFOLIO

June 2019 49

CATEgORY OF SCHEME: LIqUID FUND


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 jUNE 30, 2019)^^ NAV PER UNiT (`)

Regular Plan - Growth Option 3,724.4099Regular Plan - Daily Dividend Reinvestment Option 1,019.8200Regular Plan - Weekly Dividend Option 1,032.0952Regular Plan - Monthly Dividend Option 1,027.3603Direct Plan - Growth Option 3,743.6404Direct Plan - Daily Dividend Reinvestment Option 1,019.8200Direct Plan - Weekly Dividend Option 1,032.1112Direct Plan - Monthly Dividend Option 1,027.3770



qUANTiTATiVE DATA






EXiT lOAD

Nil

PLANS & OPTIONS

Regular Plan, Direct Plan. Under both the Plans: Growth & Dividend Option. The Dividend Option offers Daily Dividend Option (Reinvestment facility only) and Weekly and Monthly Dividend Option (with Payout and Reinvestment facility).


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


^^calculated on all calendar days.



l regular income over short term

l to generate income through a portfolio comprising money market and debt instruments

Riskometer

Investors understand that their principal will be at low risk




(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 23, 19 Last 7 days 6.23 6.73 0.40 10,012 10,013 10,001Jun 15, 19 Last 15 days N.A. N.A. N.A. N.A. N.A. N.A.May 31, 19 Last 1 Month 6.63 6.75 6.09 10,054 10,055 10,050Jun 29, 18 Last 1 Year 7.35 7.61 7.94 10,735 10,761 10,794Jun 30, 16 Last 3 Years 6.96 7.16 6.76 12,238 12,305 12,167Jun 30, 14 Last 5 Years 7.55 7.62 7.29 14,395 14,442 14,219Oct 17, 00 Since Inception 7.28 N.A. 6.42 37,244 N.A. 32,028

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 52. Different plans viz. Regular Plan and Direct Plan have a different expense structure. The expenses of the Direct Plan under the Scheme will be lower to the extent of the distribution expenses / commission charged in the Regular Plan. For Performance of Direct Plan, refer page no. 60.

n SDL, T-Bills 32.38

n cP 53.95

n cD 14.87


n cash, cash Equivalents and Net current Assets -6.60


n Sovereign 32.38


n AA+ 0.19

n cash, cash Equivalents and Net current Assets -6.60


(An open ended liquid scheme)HDFC Liquid Fund

PORTFOLIO

Company Rating % to NAV

DEBT & DEBT RElATED


7.76% Karnataka SDL - Mat 300719 Sovereign 0.12

7.85% Andhra Pradesh SDL - Mat 220719 Sovereign 0.11

7.77% Rajasthan SDL- Mat 300719 Sovereign 0.06

8.20% Rajasthan SDL- Mat 260819 Sovereign 0.06



7.93% Andhra Pradesh SDL - Mat 080719 Sovereign 0.03

Sub Total 0.48

T-BillS




• 91 Days Tbill - ISD 090519 Mat 080819 Sovereign 4.82


91 Days Tbill - Mat 180719 Sovereign 3.04

91 Days TBill - Mat 040719 Sovereign 1.42






91 Days Tbill - ISD 190619 Mat 190919 Sovereign 0.78





50 June 2019


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






Sub Total 31.90

CREDiT EXPOSURE


LIc Housing Finance Ltd. cARE - AAA / cRISIL - AAA 0.97

Power Grid corporation of India Ltd. cARE - AAA / cRISIL - AAA 0.62

Nabha Power Ltd. (corporate Guarantee of L&T Ltd.) IcRA - AAA(SO) 0.51

Bajaj Finance Ltd. cARE - AAA / IND - AAA 0.50


Tata capital Financial Services Ltd. IcRA - AAA 0.35



L&T Infrastructure Finance Ltd. cARE - AAA 0.15



Daimler Fin Ser (I) Pvt Ltd. IND - AAA 0.03

Kotak Mahindra Prime Ltd. cRISIL - AAA 0.02


Sub Total 5.40

TOTAL 37.78


CD/CP

• National Bank for Agriculture & Rural Development cRISIL - A1+ 5.06

• Tata Sons Ltd. cRISIL - A1+ 4.93

• Steel Authority of India Ltd. cARE - A1+ 4.31

• Union Bank of India IcRA - A1+ 3.71

• PNB Housing Finance Ltd. cRISIL - A1+ 3.69

• Bajaj Finance Ltd. cRISIL - A1+ 3.52

NTPc Ltd. cARE - A1+ / IcRA - A1+ 3.10

Vedanta Ltd. cRISIL - A1+ 2.87


Tata Teleservices Ltd. cRISIL - A1+ 2.51

Reliance Industries Ltd. IcRA - A1+ 2.35

IcIcI Bank Ltd. IcRA - A1+ 2.16

Tata Teleservices (Maharashtra) Ltd. cRISIL - A1+ 1.87

Adani Ports & Special economic Zone cARE - A1+ 1.86

LIc Housing Finance Ltd. cRISIL - A1+ 1.84

Reliance Retail Ltd. cARE - A1+ 1.84


Tata capital Financial Services Ltd. cRISIL - A1+ 1.83


The South Indian Bank Ltd. cARE - A1+ / cRISIL - A1+ 1.47


export - Import Bank of India cRISIL - A1+ 1.23

Syndicate Bank cRISIL - A1+ 1.23

SBI cards & Payment Services P. Ltd. cRISIL - A1+ 0.92

Aditya Birla Finance Ltd. IcRA - A1+ 0.86

Power Grid corporation of India Ltd. IcRA - A1+ 0.86


corporation Bank cRISIL - A1+ 0.62

Housing and Urban Development corporation Ltd. cARE - A1+ 0.62

Reliance Jio Infocomm Ltd. cRISIL - A1+ 0.62

Nirma Ltd. cRISIL - A1+ 0.56

Tata Projects Ltd. cRISIL - A1+ 0.49

Axis Bank Ltd. IcRA - A1+ 0.43

Axis Finance Ltd. cRISIL - A1+ / IND - A1+ 0.43

chambal Fertilizers & chemicals Ltd. cRISIL - A1+ 0.43

TMF Holdings Ltd. (Subsidiary of Tata Motors Ltd.) cARE - A1+ 0.36

Bharat Heavy electricals Ltd. cARE - A1+ 0.31

Tata Motors Finance Ltd. cRISIL - A1+ 0.31

Trapti Trading & Investments Pvt Lt cRISIL - A1+ 0.31

TGS Investment & Trade Pvt Ltd. IcRA - A1+ 0.30

Tata cleantech capital Ltd. cRISIL - A1+ 0.29

Fullerton India credit company Ltd. cARE - A1+ 0.26

Aditya Birla capital Ltd. cRISIL - A1+ 0.25


Kotak Securities Ltd. cRISIL - A1+ 0.25

SBI Global Factors Ltd. cRISIL - A1+ 0.25

Tata Motors Finance Solutions Ltd. cARE - A1+ 0.25

Tata Realty and Infrastructure Ltd. cRISIL - A1+ 0.25


Turquoise Investments & Finance Pvt Ltd. cARE - A1+ / cRISIL - A1+ 0.18

Julius Baer capital (India) Private cRISIL - A1+ 0.15

UPL Ltd. cRISIL - A1+ 0.12

Toyota Financial Services India Ltd. cRISIL - A1+ 0.06

TATA Housing Development co Ltd. cARE - A1+ 0.03

Sub Total 68.82

cash, cash Equivalents and Net current Assets -6.60

Grand Total 100.00


June 2019 51

CATEgORY OF SCHEME: OVERNIGHT FUND

KEY FACTS


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, 2012)



February 06, 2002

NAV (AS ON JUNE 30, 2019)^^ NAV PER UNIT (`)

Regular Plan - Growth Option 2,851.6803Regular Plan - Daily Dividend Reinvestment Option 1,042.6600Direct Plan - Growth Option 2,863.2734Direct Plan - Daily Dividend Reinvestment Option 1,042.6600



qUANTiTATiVE DATA

Average Maturity * 1 dayMacaulay Duration * 1 dayModified Duration * 1 dayYield to Maturity * 5.96%* 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


^^calculated on all calendar days.



(%)

Benchmark Returns

(%)#


Returns (%) ##




(`)##

Jun 23, 19 Last 7 days 5.47 5.64 0.40 10,010 10,011 10,001Jun 15, 19 Last 15 days N.A. N.A. N.A. N.A. N.A. N.A.May 31, 19 Last 1 Month 5.52 5.71 6.09 10,045 10,047 10,050Jun 29, 18 Last 1 Year 6.16 6.32 7.94 10,616 10,632 10,794Jun 30, 16 Last 3 Years 6.04 6.14 6.76 11,925 11,956 12,167Jun 30, 14 Last 5 Years 6.55 6.69 7.29 13,736 13,827 14,219Feb 06, 02 Since Inception 6.21 N.A. 6.08 28,517 N.A. 27,920

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 52. 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 June 30, 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

PORTFOLIO

52 June 2019

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 07HDFC Balanced Advantage Fund 13-14HDFC Infrastructure Fund (Co-managed scheme) 12HDFC Hybrid Debt Fund (Co-managed scheme) 32-33Close ended schemes (Co-managed scheme) 56

2 Mr. Vinay Kulkarni HDFC Focused 30 Fund 11HDFC Growth Opportunities Fund 10HDFC TaxSaver 23HDFC Equity Savings Fund (Co-managed scheme) 30-31

3 Mr. Chirag Setalvad HDFC Mid-Cap Opportunities Fund 08HDFC Small Cap Fund 09HDFC Long Term Advantage Fund 53HDFC Hybrid Equity Fund 15-16HDFC Children’s Gift Fund 24-25HDFC Multi-Asset Fund (Co-managed scheme) 17-18HDFC Retirement Savings Fund - Equity Plan (Co-managed scheme) 26HDFC Retirement Savings Fund - Hybrid Equity Plan (Co-managed scheme) 27-28HDFC Retirement Savings Fund - Hybrid Debt Plan (Co-managed scheme) 29

4 Mr. Miten Lathia HDFC Capital Builder Value Fund 06Closed ended schemes (Co-managed) 57

5 Mr. Krishan Kumar Daga HDFC Arbitrage Fund 34-35HDFC Multi-Asset Fund (Co-managed scheme) 17-18HDFC Index Fund - SEnSEx Plan 22HDFC Index Fund - nIFTY 50 Plan 20HDFC SEnSEx ETF 21HDFC nIFTY 50 ETF 19HDFC Gold Exchange Traded Fund 55HDFC Gold Fund 55HDFC Equity Savings Fund (Co-managed scheme) 30-31Closed ended schemes (Co-managed) 57

6 Mr. Shobhit Mehrotra HDFC Income Fund 42HDFC Medium Term Debt Fund 43HDFC Floating Rate Debt Fund 47HDFC Credit Risk Debt Fund 37-38HDFC Hybrid Debt Fund (Co-managed scheme) 32-33HDFC Retirement Savings Fund - Equity Plan (Co-managed scheme) 26HDFC Retirement Savings Fund - Hybrid Equity Plan (Co-managed scheme) 27-28HDFC Retirement Savings Fund - Hybrid Debt Plan (Co-managed scheme) 29Close ended schemes 53

7 Mr. Anil Bamboli HDFC Dynamic Debt Fund 41HDFC Short Term Debt Fund 42HDFC Gilt Fund 40HDFC Money Market Fund 46HDFC Ultra Short Term Fund 48HDFC Overnight Fund 50HDFC Banking and PSU Debt Fund 39HDFC Equity Savings Fund (Co-managed scheme) 30-31HDFC Multi-Asset Fund (Co-managed scheme) 17-18HDFC Dynamic PE Ratio Fund of Funds (Co-managed scheme) 57Close ended schemes 54-55Closed ended schemes (Co-managed) 57

8 Mr. Anupam Joshi HDFC Liquid Fund 49-50HDFC Corporate Bond Fund 36HDFC Low Duration Fund 45Close ended schemes 55-56

9 Mr. Rakesh Vyas HDFC Infrastructure Fund (Co-managed scheme) 12Close ended schemes (Co-managed scheme) 56

For performance details of Direct Plan, refer page 58-65

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.

3 Mr. Srinivas Rao Ravuri HDFC Infrastructure Fund 12

Close ended schemes 53

June 2019 53

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

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.

CHIRAG SETALVAD

HDFC LONG TERM ADVANTAGE FUND NAV as on June 28, 2019 ` 368.064


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 11.66 12.52 11.39 11,166 11,252 11,139Jun 30, 16 Last 3 Years 14.23 14.83 13.93 14,894 15,130 14,777Jun 30, 14 Last 5 Years 11.58 10.64 10.53 17,294 16,575 16,490Jan 02, 01 Since Inception 21.52 14.97 14.41 368,064 131,981 120,581

# 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 June 28, 2019 ` 14.4767


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index. The scheme is managed by Mr. Shobhit Mehrotra since inception.

HDFC FMP 1168D FEBRUARy 2016 (1) NAV as on June 28, 2019 ` 13.5957


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 3 years but less than 5 years. The scheme is managed by Mr. Shobhit Mehrotra since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 7.49 11.60 7.93 10,749 11,160 10,793Mar 23, 17 Since Inception 7.10 7.15 6.64 11,681 11,694 11,568

# 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 (`)#


(`)##



HDFC FMP 1172D APRIL 2017 (1) NAV as on June 28, 2019 ` 11.6195


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 8.76 11.60 7.93 10,876 11,160 10,793Apr 11, 17 Since Inception 7.02 7.10 6.69 11,620 11,641 11,541




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1166D MAy 2017 (1) NAV as on June 28, 2019 ` 11.6912


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 8.14 11.60 7.93 10,814 11,160 10,793May 09, 17 Since Inception 7.59 7.16 6.84 11,691 11,592 11,518


HDFC FMP 1136D JUNE 2017 (1) NAV as on June 28, 2019 ` 11.5324


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 7.71 11.60 7.93 10,771 11,160 10,793Jun 08, 17 Since Inception 7.19 6.27 6.84 11,532 11,331 11,455


HDFC FMP 1430D JULy 2017 (1) NAV as on June 28, 2019 ` 11.3134


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 9.71 11.60 7.93 10,971 11,160 10,793Aug 01, 17 Since Inception 6.69 6.05 6.87 11,313 11,184 11,350




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



54 June 2019




ANIL BAMBOLI

HDFC CHARITy FUND FOR CANCER CURE - DEBT PLAN^

NAV as on June 28, 2019 ` 10.2326


(%)

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 June 28, 2019 ` 16.0421


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 6.24 11.60 7.93 10,624 11,160 10,793Jun 30, 16 Last 3 Years 6.69 8.03 6.76 12,139 12,601 12,163Jun 30, 14 Last 5 Years 7.65 9.06 7.29 14,454 15,427 14,215Aug 14, 13 Since Inception 8.38 9.47 7.53 16,042 17,016 15,316

# 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 Term Bond Fund Index ## CRISIL 1 year T-Bill Index. The scheme is managed by Mr. Anil Bamboli since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 8.99 9.04 7.93 10,899 10,904 10,793Jun 30, 16 Last 3 Years 7.26 7.51 6.76 12,336 12,422 12,163Jun 30, 14 Last 5 Years 8.39 8.20 7.29 14,954 14,826 14,215Feb 26, 14 Since Inception 8.57 8.41 7.40 15,507 15,384 14,636


HDFC FMP 1111D SEPTEMBER 2016 (1) NAV as on June 28, 2019 ` 12.5089


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 7.97 11.60 7.93 10,797 11,160 10,793Sep 15, 16 Since Inception 8.37 7.10 6.69 12,509 12,105 11,975

# 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. Anil Bamboli since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1218D DECEMBER 2016 (1) NAV as on June 28, 2019 ` 11.9791


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 8.96 11.60 7.93 10,896 11,160 10,793Jan 12, 17 Since Inception 7.62 6.18 6.60 11,979 11,587 11,701


HDFC FMP 1199D JANUARy 2017 (1) NAV as on June 28, 2019 ` 11.8163


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 9.10 11.60 7.93 10,910 11,160 10,793Feb 22, 17 Since Inception 7.22 7.34 6.67 11,777 11,806 11,634




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



ANIL BAMBOLI....CONTINUED

June 2019 55







(%)

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 (`)#


(`)##



KRISHAN KUMAR DAGA

HDFC GOLD EXCHANGE TRADED FUND* NAV as on June 28, 2019 ` 3138.980

Date Period Scheme Returns (%)

Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Jun 29, 18 Last 1 Year 12.41 13.60 11,241 11,360Jun 30, 16 Last 3 Years 1.89 2.97 10,576 10,917Jun 30, 14 Last 5 Years 3.23 4.35 11,720 12,371Aug 13, 10 Since Inception 6.46 7.29 17,436 18,674

# 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 June 28, 2019 ` 10.958


Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Jun 29, 18 Last 1 Year 9.80 13.60 10,980 11,360Jun 30, 16 Last 3 Years 2.07 2.97 10,633 10,917Jun 30, 14 Last 5 Years 2.38 4.35 11,245 12,371nov 01, 11 Since Inception 1.20 3.20 10,958 12,725

# 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 June 28, 2019 ` 10.200


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jun 29, 18 Last 1 Year 6.11 6.26 11.39 10,611 10,626 11,139Mar 27, 17 Since Inception 6.41 5.19 14.00 11,504 11,209 13,437

# 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 (`)#


(`)##Jun 29, 18 Last 1 Year 7.14 11.60 7.93 10,714 11,160 10,793Jun 30, 16 Last 3 Years 8.36 8.03 6.76 12,719 12,601 12,163May 31, 16 Since Inception 8.38 8.12 6.78 12,810 12,717 12,237

# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 3 years but less than 5 years. The scheme is managed by Mr. Anupam Joshi since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jun 29, 18 Last 1 Year 6.97 11.60 7.93 10,697 11,160 10,793Jun 30, 16 Last 3 Years 8.37 8.03 6.76 12,720 12,601 12,163May 05, 16 Since Inception 8.37 8.08 6.76 12,879 12,771 12,288




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jun 29, 18 Last 1 Year 7.97 11.60 7.93 10,797 11,160 10,793Jun 30, 16 Last 3 Years 7.66 8.03 6.76 12,474 12,601 12,163Jun 21, 16 Since Inception 7.65 8.16 6.77 12,491 12,671 12,186

# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Anupam Joshi since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jun 29, 18 Last 1 Year 7.51 11.60 7.93 10,751 11,160 10,793Jun 30, 16 Last 3 Years 8.51 8.03 6.76 12,771 12,601 12,163Jun 29, 16 Since Inception 8.51 8.04 6.75 12,773 12,608 12,164


56 June 2019




ANUPAM JOSHI....CONTINUED



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jun 29, 18 Last 1 Year 7.60 11.60 7.93 10,760 11,160 10,793Jul 07, 16 Since Inception 7.48 7.89 6.74 12,394 12,534 12,141




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##Jun 29, 18 Last 1 Year 8.35 11.60 7.93 10,835 11,160 10,793Jul 27, 16 Since Inception 8.46 7.56 6.71 12,677 12,371 12,089




(%)

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 (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



MITEN LATHIA

HDFC EOF - II - 1126D MAy 2017 (1) NAV as on June 28, 2019 ` 10.7980


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index). The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Miten Lathia w.e.f. June 01, 2019.

HDFC EOF - II - 1100D JUNE 2017 (1) NAV as on June 28, 2019 ` 10.4180


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 11.45 11.39 12.52 11,145 11,139 11,252Jul 17, 17 Since Inception 2.12 10.65 12.37 10,418 12,178 12,550

# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index). The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Miten Lathia w.e.f. June01, 2019.

CO-MANAGED ByRAKESH VyAS & PRASHANT JAIN

HDFC HOF - I - 1140D NOVEMBER 2017 (1) NAV as on June 28, 2019 ` 9.8360


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 8.91 11.27 11.39 10,891 11,127 11,139Dec 06, 17 Since Inception -1.06 7.79 12.29 9,836 11,240 11,980

# India Housing & Allied Businesses Index ## nIFTY 50 (Total Returns Index) The Scheme is in existence for more than 1 year but less than 3 years. The scheme is co-managed by Mr. Rakesh Vyas& Mr. Prashant Jain w.e.f. June 01, 2019.

June 2019 57



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.

CO-MANAGED By MITEN LATHIA & ANIL BAMBOLI

HDFC DyNAMIC PE RATIO FUND OF FUNDS NAV as on June 28, 2019 ` 19.0302


(%)

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 co-managed by Mr. Miten Lathia & Mr. Anil Bamboli since June 28, 2014.

CO-MANAGED ByKRISHAN KUMAR DAGA & ANIL BAMBOLI

HDFC DAF - III - 1304D AUGUST 2016 NAV as on June 28, 2019 ` 11.7449


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Hybrid Short Duration Debt 40:60 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 - III - 1267D OCTOBER 2016 NAV as on June 28, 2019 ` 11.5627


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 6.99 10.06 7.93 10,699 11,006 10,793Oct 25, 16 Since Inception 5.58 9.82 6.62 11,563 12,845 11,869


HDFC DAF - III - 1224D NOVEMBER 2016 NAV as on June 28, 2019 ` 11.4860


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 7.00 9.63 7.93 10,700 10,963 10,793Dec 07, 16 Since Inception 5.57 9.48 6.60 11,486 12,604 11,776

# 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 & Mr. Anil Bamboli since inception.

58 June 2019

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

PRASHANT JAIN

HDFC EQUITy FUND NAV as on June 28, 2019 ` 736.762


(%)

Benchmark Returns

(%)#


Returns (%) ##

Value of ` 10,000 invested Scheme

(`)Benchmark

(`)#Additional

Benchmark (`)##


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

HDFC TOP 100 FUND NAV as on June 28, 2019 ` 538.998


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##


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

HDFC BALANCED ADVANTAGE FUND NAV as on June 28, 2019 ` 215.525


(%)

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. 14.

VINAy KULKARNI

HDFC FOCUSED 30 FUND NAV as on June 28, 2019 ` 84.693


(%)

Benchmark Returns

(%)#


Returns (%) ##


(`)Benchmark

(`)#Additional

Benchmark (`)##



HDFC GROWTH OPPORTUNITIES FUND NAV as on June 28, 2019 ` 116.654


(%)

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 June 28, 2019 ` 554.787


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



CHIRAG SETALVAD

HDFC MID-CAP OPPORTUNITIES FUND NAV as on June 28, 2019 ` 57.430


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 0.05 -2.04 11.39 10,005 9,796 11,139Jun 30, 16 Last 3 Years 11.66 9.69 13.93 13,913 13,191 14,777Jun 30, 14 Last 5 Years 14.30 10.95 10.53 19,499 16,807 16,490Jan 01, 13 Since Inception 18.78 13.01 12.50 30,549 22,115 21,480

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

HDFC SMALL CAP FUND NAV as on June 28, 2019 ` 45.444


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year -0.74 -12.71 11.39 9,926 8,729 11,139Jun 30, 16 Last 3 Years 16.35 3.08 13.93 15,737 10,950 14,777Jun 30, 14 Last 5 Years 16.40 3.86 10.53 21,357 12,084 16,490Jan 01, 13 Since Inception 17.55 9.15 12.50 28,565 17,648 21,480

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

HDFC HyBRID EQUITy FUND NAV as on June 28, 2019 ` 57.249


(%)

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. 16.

HDFC CHILDREN’S GIFT FUND NAV as on June 28, 2019 ` 129.307


(%)

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 June 28, 2019 ` 382.249


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


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


June 2019 59


SHOBHIT MEHROTRA

HDFC INCOME FUND NAV as on June 28, 2019 ` 43.2450


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


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

HDFC MEDIUM TERM DEBT FUND NAV as on June 28, 2019 ` 39.0574


(%)

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 June 28, 2019 ` 33.3169


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


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

HDFC CREDIT RISK DEBT FUND NAV as on June 28, 2019 ` 16.2073


(%)

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. 38.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index. The scheme is managed by Mr. Shobhit Mehrotra since inception.



(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 1 year T-Bill Index. The Scheme is in existence for more than 3 years 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

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 9.82 11.60 7.93 10,982 11,160 10,793Aug 01, 17 Since Inception 6.79 6.05 6.87 11,335 11,184 11,350




60 June 2019




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



KRISHAN KUMAR DAGA

HDFC ARBITRAGE FUND - WHOLESALE PLAN NAV as on June 28, 2019 ` 14.222


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 6.46 6.26 11.39 10,646 10,626 11,139Jun 30, 16 Last 3 Years 6.42 5.31 13.93 12,049 11,676 14,777Jun 30, 14 Last 5 Years 6.88 6.15 10.53 13,943 13,472 16,490Apr 07, 14 Since Inception 6.97 6.35 12.87 14,222 13,794 18,829

# 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 June 28, 2019 ` 353.5425


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# S&P BSE SEnSEx (Total Returns Index) ## nIFTY 50 (Total Returns Index). Refer to note on performance disclosure on Page no. 23.

HDFC INDEX FUND - NIFTy 50 PLAN NAV as on June 28, 2019 ` 108.4114


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC GOLD FUND NAV as on June 28, 2019 ` 11.2314


Benchmark Returns

(%)#


Scheme (`)

Benchmark (`)#

Jun 29, 18 Last 1 Year 10.26 13.60 11,026 11,360Jun 30, 16 Last 3 Years 2.52 2.97 10,774 10,917Jun 30, 14 Last 5 Years 2.82 4.35 11,491 12,371Jan 01, 13 Since Inception 0.24 1.91 10,156 11,308

# 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 June 28, 2019 ` 10.200


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Arbitrage Index ## nIFTY 50 Index. The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Krishan Kumar Daga since inception. ^Scheme offers Dividend option only. Returns of HDFC Charity Fund for Cancer Cure - Arbitrage Plan - Direct Plan are computed based on nAV of Dividend Option and all dividends (after statutory levy) are assumed to be reinvested in the units of the scheme at the then prevailing nAV (ex-dividend nAV).

ANUPAM JOSHI

HDFC LIQUID FUND NAV as on June 30, 2019 ` 3743.6404


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 23, 19 Last 7 days 6.33 6.73 0.40 10,012 10,013 10,001Jun 15, 19 Last 15 days n.A. n.A. n.A. n.A. n.A. n.A.May 31, 19 Last 1 Month 6.73 6.75 6.09 10,055 10,055 10,050Jun 29, 18 Last 1 Year 7.46 7.61 7.94 10,746 10,761 10,794Jun 30, 16 Last 3 Years 7.07 7.16 6.76 12,275 12,305 12,167Jun 30, 14 Last 5 Years 7.64 7.62 7.29 14,455 14,442 14,219Dec 31, 12 Since Inception 8.04 7.99 7.16 16,527 16,478 15,672

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 June 28, 2019 ` 21.4213


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# CRISIL Composite Bond Fund Index ## CRISIL 10 year Gilt Index. Refer to note on performance disclosure on Page no. 37.

HDFC LOW DURATION FUND NAV as on June 28, 2019 ` 41.6440


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





SHOBHIT MEHROTRA....CONTINUED

June 2019 61




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 7.30 11.60 7.93 10,730 11,160 10,793Jun 30, 16 Last 3 Years 8.86 8.03 6.76 12,894 12,601 12,163May 31, 16 Since Inception 8.90 8.12 6.78 12,999 12,717 12,237




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 7.13 11.60 7.93 10,713 11,160 10,793Jun 30, 16 Last 3 Years 8.84 8.03 6.76 12,887 12,601 12,163May 05, 16 Since Inception 8.88 8.08 6.76 13,071 12,771 12,288




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 8.03 11.60 7.93 10,803 11,160 10,793Jun 30, 16 Last 3 Years 7.93 8.03 6.76 12,566 12,601 12,163Jun 21, 16 Since Inception 7.91 8.16 6.77 12,586 12,671 12,186




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 7.67 11.60 7.93 10,767 11,160 10,793Jun 30, 16 Last 3 Years 9.03 8.03 6.76 12,957 12,601 12,163Jun 29, 16 Since Inception 9.03 8.04 6.75 12,959 12,608 12,164




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

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 (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##






62 June 2019





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



ANIL BAMBOLI

HDFC DyNAMIC DEBT FUND NAV as on June 28, 2019 ` 63.0470


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


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

HDFC SHORT TERM DEBT FUND NAV as on June 28, 2019 ` 21.2364


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC GILT FUND NAV as on June 28, 2019 ` 39.2452


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


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

HDFC BANKING AND PSU DEBT FUND NAV as on June 28, 2019 ` 15.5478


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC MONEy MARKET FUND NAV as on June 28, 2019 ` 3993.2622


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 8.29 7.60 7.93 10,829 10,760 10,793Jun 30, 16 Last 3 Years 7.37 7.16 6.76 12,373 12,301 12,163Jun 30, 14 Last 5 Years 7.82 7.62 7.29 14,571 14,437 14,215Dec 31, 12 Since Inception 8.16 7.99 7.16 16,644 16,472 15,667


HDFC OVERNIGHT FUND NAV as on June 30, 2019 ` 2863.2734


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 23, 19 Last 7 days 5.57 5.64 0.40 10,011 10,011 10,001Jun 15, 19 Last 15 days n.A. n.A. n.A. n.A. n.A. n.A.May 31, 19 Last 1 Month 5.62 5.71 6.09 10,046 10,047 10,050Jun 29, 18 Last 1 Year 6.26 6.32 7.94 10,626 10,632 10,794Jun 30, 16 Last 3 Years 6.11 6.14 6.76 11,947 11,956 12,167Jun 30, 14 Last 5 Years 6.62 6.69 7.29 13,781 13,827 14,219Dec 31, 12 Since Inception 7.00 7.08 7.16 15,524 15,600 15,672

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 June 28, 2019 ` 10.2326


(%)

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 June 28, 2019 ` 16.3304


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 6.58 11.60 7.93 10,658 11,160 10,793Jun 30, 16 Last 3 Years 7.02 8.03 6.76 12,251 12,601 12,163Jun 30, 14 Last 5 Years 7.98 9.06 7.29 14,675 15,427 14,215Aug 14, 13 Since Inception 8.71 9.47 7.53 16,330 17,016 15,316

# 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 (`)#


(`)##





(%)

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(%)#


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Scheme (`)

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(`)##





June 2019 63




(%)

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(%)#


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(`)##





(%)

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(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1218D DECEMBER 2016 (1) NAV as on June 28, 2019 ` 12.0967


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC FMP 1199D JANUARy 2017 (1) NAV as on June 28, 2019 ` 11.9629


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##





(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

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(`)##





(%)

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(`)##





(%)

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(`)##





(%)

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(`)##





(%)

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(`)##





(%)

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(`)##





(%)

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(%)

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(%)

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Benchmark (`)#


(`)##






64 June 2019




(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



MITEN LATHIA

HDFC CAPITAL BUILDER VALUE FUND NAV as on June 28, 2019 ` 308.414


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC EOF - II - 1126D MAy 2017 (1) NAV as on June 28, 2019 ` 11.0960


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index). The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Miten Lathia w.e.f. June 01, 2019.

HDFC EOF - II - 1100D JUNE 2017 (1) NAV as on June 28, 2019 ` 10.7420


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index). The Scheme is in existence for more than 1 year but less than 3 years. The scheme is managed by Mr. Miten Lathia w.e.f. June01, 2019.

CO-MANAGED ByRAKESH VyAS & PRASHANT JAIN

HDFC INFRASTRUCTURE FUND NAV as on June 28, 2019 ` 18.356


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index). The scheme is co-managed by Mr. Rakesh Vyas & Mr. Prashant Jain w.e.f. June 01, 2019.

HDFC HOF - I - 1140D NOVEMBER 2017 (1) NAV as on June 28, 2019 ` 10.0810


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# India Housing & Allied Businesses Index ## nIFTY 50 (Total Returns Index) The Scheme is in existence for more than 1 year but less than 3 years. The scheme is co-managed by Mr. Rakesh Vyas& Mr. Prashant Jain w.e.f. June 01, 2019.

CO-MANAGED By PRASHANT JAIN & SHOBHIT MEHROTRA

HDFC HyBRID DEBT FUND NAV as on June 28, 2019 ` 48.1631


(%)

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. 34.

CO-MANAGED By ANIL BAMBOLI & MITEN LATHIA

HDFC DyNAMIC PE RATIO FUND OF FUNDS NAV as on June 28, 2019 ` 20.058


(%)

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 28, 2014.

CO-MANAGED By CHIRAG SETALVAD, ANIL BAMBOLI & KRISHAN KUMAR DAGA

HDFC MULTI - ASSET FUND NAV as on June 28, 2019 ` 33.6260


(%)

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.




June 2019 65


CO-MANAGED By VINAy KULKARNI, KRISHAN KUMAR DAGA & ANIL BAMBOLI

HDFC EQUITy SAVINGS FUND NAV as on June 28, 2019 ` 39.7530


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# 40% nIFTY 50 Arbitrage Index, 30% CRISIL Short Term Bond Fund Index and 30% nIFTY 50 (Total Returns Index) ## nIFTY 50 (Total Returns Index). Scheme performance may not strictly be comparable with that of its Additional Benchmark, since a portion of scheme’s investments are made in equity instruments.

CO-MANAGED By KRISHAN KUMAR DAGA & ANIL BAMBOLI

HDFC DAF - III - 1304D AUGUST 2016 NAV as on June 28, 2019 ` 12.2520


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



HDFC DAF - III - 1267D OCTOBER 2016 NAV as on June 28, 2019 ` 12.0792


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##

Jun 29, 18 Last 1 Year 8.47 10.06 7.93 10,847 11,006 10,793Oct 25, 16 Since Inception 7.32 9.82 6.62 12,079 12,845 11,869


HDFC DAF - III - 1224D NOVEMBER 2016 NAV as on June 28, 2019 ` 11.9730


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##



CO-MANAGED By CHIRAG SETALVAD & SHOBHIT MEHROTRA

HDFC RETIREMENT SAVINGS FUND - EQUITy PLAN

NAV as on June 28, 2019 ` 18.088


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 500 (Total Returns Index) ## nIFTY 50 (Total Returns Index). The Scheme is in existence for more than 3 years but less than 5 years

HDFC RETIREMENTSAVINGS FUND - HyBRID EQUITy PLAN

NAV as on June 28, 2019 ` 17.932


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Hybrid Composite Debt 65:35 Index ## nIFTY 50 (Total Returns Index). The Scheme is in existence for more than 3 years but less than 5 years

HDFC RETIREMENT SAVINGS FUND - HyBRID DEBT PLAN

NAV as on June 28, 2019 ` 14.0286


(%)

Benchmark Returns

(%)#


Returns (%) ##


Scheme (`)

Benchmark (`)#


(`)##


# nIFTY 50 Hybrid Composite Debt 15:85 Index ## CRISIL 10 Year Gilt Index. The Scheme is in existence for more than 3 years but less than 5 years



Managing Portfolio Since

Returns (%) (As on June 30, 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 22.05 15.40 n.A.

Benchmark- MSCI India (Total Returns) 8.65 11.28 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)

66 June 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 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 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 5.50Mar 20, 19 56.417 5.25 5.25 60.153 5.25 5.25

HDFC Top 100 Fund (Past 3 years) Dividend Option


Cum Div NAV (`)




Mar 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 6.00Mar 07, 19 52.212 5.50 5.50 55.052 5.50 5.50

HDFC Capital Builder Value Fund (Past 3 years) Dividend Option


Cum Div NAV (`)




Mar 01, 17 28.767 3.00 3.00 29.796 3.00 3.00Feb 22, 18 31.809 3.50 3.50 33.423 3.50 3.50Feb 21, 19 26.710 2.75 2.75 28.618 2.75 2.75

HDFC Focused 30 Fund (Past 3 years) Dividend Option


Cum Div NAV (`)




Mar 01, 17 20.219 2.00 2.00 21.216 2.00 2.00Feb 22, 18 21.508 2.25 2.25 22.914 2.25 2.25Feb 21, 19 16.853 1.75 1.75 18.257 1.75 1.75

HDFC Arbitrage Fundnormal Dividend Option (Past 3 months)

Record Date Wholesale Plan Direct Plan

Cum Div NAV (`)




Apr 18, 19 10.412 0.050 0.050 10.790 0.050 0.050 May 23, 19 10.422 0.050 0.050 10.807 0.050 0.050Jun 20, 19 10.420 0.050 0.050 10.811 0.050 0.050

Monthly Dividend Option (Past 3 months)

Record Date Wholesale Plan Wholesale Plan - Direct Plan

Cum Div NAV (`)




Apr 18, 19 10.832 0.050 0.050 10.510 0.050 0.050 May 23, 19 10.844 0.050 0.050 10.524 0.050 0.050Jun 20, 19 10.845 0.050 0.050 10.527 0.050 0.050

HDFC Growth Opportunities Fund (Past 3 years) Dividend Option


Cum Div NAV (`)




Feb 23, 17 22.342 2.25 2.25 24.880 2.25 2.25Mar 01, 18 22.901 2.25 2.25 25.854 2.25 2.25Feb 28, 19 19.807 2.00 2.00 22.663 2.00 2.00

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


Cum Div NAV (`)




Mar 23, 17 31.806 2.25 2.25 36.789 2.25 2.25Mar 01, 18 34.912 3.00 3.00 41.189 3.00 3.00Feb 28, 19 28.574 2.50 2.50 34.574 2.50 2.50

HDFC Small Cap Fund (Past 3 years) Dividend Option


Cum Div NAV (`)




Mar 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 1.00Mar 27, 19 25.955 2.50 2.50 30.135 0.99 0.99

HDFC Hybrid Equity Fund (Past 3 quarters) Dividend Option


Cum Div NAV (`)




Dec 26, 18 11.943 0.320 0.320 12.587 0.320 0.320Mar 25, 19 12.108 0.320 0.320 12.807 0.320 0.320Jun 25, 19 12.104 0.320 0.320 12.845 0.320 0.320

HDFC Balanced Advantage Fund (Past 3 months) Dividend Option


Cum Div NAV (`)




Apr 25, 19 29.177 0.310 0.310 30.824 0.310 0.310 May 27, 19 30.151 0.310 0.310 31.891 0.310 0.310Jun 25, 19 29.747 0.310 0.310 31.496 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 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 7.00Mar 14, 19 59.483 6.00 6.00 62.638 6.00 6.00

HDFC Infrastructure Fund (Past 3 years) Dividend Option


Cum Div NAV (`)




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 1.750Mar 27, 19 11.308 1.000 1.000 14.899 1.000 1.000

HDFC Hybrid Debt Fund Monthly Dividend Option (Past 3 months)


Cum Div NAV (`)




Apr 25, 19 13.0583 0.0800 0.0741 13.6317 0.0800 0.0741 May 27, 19 13.2473 0.0800 0.0741 13.8391 0.0800 0.0741Jun 25, 19 13.1525 0.0800 0.0741 13.7496 0.0800 0.0741

Quarterly Dividend Option (Past 3 quarters)


Cum Div NAV (`)




Dec 26, 18 14.0426 0.2400 0.2222 - - -Mar 25, 19 14.0128 0.2400 0.2222 14.6109 0.2400 0.2222Jun 25, 19 13.9937 0.2400 0.2222 14.6202 0.2400 0.2222

HDFC Equity Savings Fund (Past 3 quarters) Dividend Option


Cum Div NAV (`)




Dec 26, 18 11.1540 0.2210 0.2210 11.9350 0.2210 0.2210Mar 25, 19 11.2450 0.2210 0.2210 12.0810 0.2210 0.2210Jun 25, 19 11.2730 0.2210 0.2210 12.1530 0.2210 0.2210

June 2019 67

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 (`)




Dec 26, 18 11.0359 0.1500 0.1389 11.6180 0.1500 0.1389Mar 25, 19 11.0099 0.1000 0.0926 11.6145 0.1000 0.0926Jun 25, 19 11.1573 0.1000 0.0926 11.7908 0.1000 0.0926

HDFC Dynamic Debt FundQuarterly Dividend Option (Past 3 quarters)


Cum Div NAV (`)




Dec 26, 18 12.1230 0.1500 0.1389 12.7115 0.1500 0.1389Mar 25, 19 11.8119 0.1000 0.0926 12.4131 0.1000 0.0926Jun 25, 19 11.6637 0.1000 0.0926 12.2808 0.1000 0.0926

Half-yearly (Dividend Option) (Past 2 years)


Cum Div NAV (`)




Mar 26, 18 11.3726 0.1000 0.0926 12.3307 0.1000 0.0926Sep 25, 18 11.2951 0.1000 0.0926 - - -Mar 25, 19 11.4552 0.2500 0.2315 - - -

yearly (Dividend Option) (Past 3 years)


Cum Div NAV (`)




Mar 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 0.3706Mar 25, 19 12.9184 0.3500 0.3241 13.5824 0.3500 0.3241

HDFC Corporate Bond FundQuarterly Dividend Option (Past 3 quarters)


Cum Div NAV (`)




Dec 26, 18 10.5053 0.2431 0.2251 10.3997 0.2423 0.2244Mar 25, 19 10.4446 0.1952 0.1807 10.3385 0.1941 0.1797Jun 25, 19 10.4354 0.1318 0.1220 10.3304 0.1336 0.1237

HDFC Gilt Fund(Dividend Option) (Past 3 quarters)


Cum Div NAV (`)




Dec 26, 18 11.3169 0.1500 0.1389 11.6527 0.1500 0.1389Mar 25, 19 11.2988 0.1000 0.0926 11.6502 0.1000 0.0926Jun 25, 19 11.4807 0.1000 0.0926 11.8527 0.1000 0.0926

HDFC Liquid FundMonthly Dividend Option (Past 3 months)


Cum Div NAV (`)




Apr 30, 19 1,033.8228 5.4188 5.0179 1,033.9252 5.4926 5.0862 May 27, 19 1,031.8414 3.9916 3.6962 1,031.9178 4.0466 3.7472Jun 24, 19 1,031.6842 3.8784 3.5914 1,031.7633 3.9353 3.6441

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

Record Date Wholesale Option Wholesale Option - Direct Plan

Cum Div NAV (`)




Apr 30, 19 10.2178 0.0531 0.0492 10.2194 0.0542 0.0502 May 27, 19 10.2243 0.0578 0.0535 10.2254 0.0586 0.0542Jun 24, 19 10.2042 0.0433 0.0401 10.2054 0.0442 0.0409

Record Date Retail Option

Cum Div NAV (`)


Individuals & HUF Others

Apr 30, 19 10.2157 0.0516 0.0478 May 27, 19 - - -Jun 24, 19 - - -

Note: Retail Option has been merged with Wholesale Option with effect from close of business hours of May 10, 2019. After merger, Wholesale Option has been renamed as HDFC Floating Rate Debt Fund.

HDFC Low Duration FundMonthly Dividend Option (Past 3 months)

Record Date Retail Option Retail Option - Direct Plan

Cum Div NAV (`)




Apr 30, 19 10.2063 0.0478 0.0442 10.2149 0.0522 0.0483 May 27, 19 10.2184 0.0565 0.0523 10.2254 0.0597 0.0553Jun 24, 19 10.1980 0.0418 0.0387 10.2052 0.0452 0.0418

Record Date Wholesale Option

Cum Div NAV (`)


Individuals & HUF Others

Apr 30, 19 10.2320 0.0519 0.0480 May 27, 19 - - -Jun 24, 19 - - -

Note: HDFC Low Duration Fund - Wholesale Option has been merged with HDFC Low Duration Fund - Retail Option with effect from close of business hours of May 10, 2019 and the merged Option is renamed as HDFC Low Duration Fund.

HDFC Credit Risk Debt FundQuarterly Dividend Option (Past 3 quarters)


Cum Div NAV (`)




Dec 26, 18 10.5547 0.2168 0.2007 10.6929 0.2312 0.2141Mar 25, 19 10.4479 0.1401 0.1297 10.5812 0.1509 0.1397Jun 25, 19 10.4513 0.1426 0.1320 10.5838 0.1527 0.1414

HDFC Ultra Short Term FundMonthly Dividend Option (Past 3 months)


Cum Div NAV (`)




Apr 30, 19 10.1295 0.0573 0.0530 10.1326 0.0595 0.0551 May 27, 19 10.1188 0.0438 0.0406 10.1210 0.0511 0.0474Jun 24, 19 10.1117 0.0387 0.0358 10.1060 0.0403 0.0374

68 June 2019

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

the licensing of the Indices and certain trademarks and trade names associated with such Indices which is determined, composed and calculated by IISL without regard to the Issuer /Licensee or the Product(s). IISL

does not have any obligation to take the needs of the Issuer/Licensee or the owners of the Product(s) into consideration in determining, composing or calculating the nIFTY Indices. IISL is not responsible for or has

participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. IISL

has no obligation or liability in connection with the administration, marketing or trading of the Product(s).

IISL is engaged in the business of developing, constructing, compiling, computing and maintaining various equity indices. The relationship of IISL to HDFC AMC is only in respect of the rights granted to use certain

trademarks and trade names of the Index in connection with the utilisation of the Index data relating to such Index. The Index is determined, composed and calculated by IISL without regard to HDFC AMC. IISL has

no obligation to take the needs of HDFC AMC into consideration in determining, composing or calculating the nIFTY Indices.

IISL do not guarantee the accuracy and/or the completeness of nIFTY Indices or any data included therein and they shall have no liability for any errors, omissions, or interruptions therein. IISL make no warranty,

express or implied, as to results to be obtained by HDFC AMC or any other person or entity from the use of nIFTY Indices or any data included therein. IISL make no express or implied warranties, and expressly disclaim

all warranties of merchantability or fitness for a particular purpose or use with respect to the Index or any data included therein. Without limiting any of the foregoing, IISL expressly disclaim any and all liability for

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even if notified of the possibility of such damages. An investor, by subscribing or purchasing an interest in the Product(s), will be regarded as having acknowledged, understood and accepted the disclaimer referred

to in Clauses above and will be bound by it.

WANT TO HAVE THE LATEST INFORMATION ABOUT US?

Visit us at www.hdfcfund.com

Telephone ServicesToll-free number: 1800 3010 6767 / 1800 419 7676

For any query or suggestions:-

Investors may contact us at:[email protected]

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SMS: HDFCMF to 56767

Registered Office: HDFC House, 2nd Floor, H.T. Parekh Marg, 165-166 Backbay Reclamation, Churchgate, Mumbai - 400 020.

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLy.

june 2019 · 2019-07-16 · june 2019 3 equity market update i n june 2019, indian equity markets...

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