HDFC Asset Management Company Limited (AMC)
HDFC Asset Management Company Ltd (AMC) was incorporated under the Companies Act, 1956, on December 10, 1999, and was approved to act as an Asset Management Company for the HDFC Mutual Fund by SEBI vide its letter dated July 3, 2000.
The registered office of the AMC is situated at “HUL House”, 2nd Floor, H. T. Parekh Marg, 165-166, Backbay Reclamation, Churchgate, Mumbai - 400 020.
In terms of the Investment Management Agreement, the Trustee has appointed the HDFC Asset Management Company Limited to manage the Mutual Fund. The paid up capital of the AMC is Rs. 25.241 crore as on September 30, 2013.
The equity shareholding pattern of the AMC as on September 30, 2013 is as follows :
||% of the paid up equity capital|
|Housing Development Finance Corporation Limited
|Standard Life Investments Limited
|Other Shareholders (shares issued on exercise of Stock Options)
Zurich Insurance Company (ZIC), the Sponsor of Zurich India Mutual Fund, following a review of its overall strategy, had decided to divest its Asset Management business in India. The AMC had entered into an agreement with ZIC to acquire the said business, subject to necessary regulatory approvals.
On obtaining the regulatory approvals, the following Schemes of Zurich India Mutual Fund have migrated to HDFC Mutual Fund on June 19, 2003. These Schemes have been renamed as follows:
|Zurich India Equity Fund
||HDFC Equity Fund|
|Zurich India Prudence Fund
||HDFC Prudence Fund|
|Zurich India Capital Builder Fund
||HDFC Capital Builder Fund|
|Zurich India TaxSaver Fund
|Zurich India Top 200 Fund
||HDFC Top 200 Fund|
|Zurich India High Interest Fund
||HDFC High Interest Fund|
|Zurich India Liquidity Fund
||HDFC Cash Management Fund|
|Zurich India Sovereign Gilt Fund
||HDFC Sovereign Gilt Fund*|
*HDFC Sovereign Gilt Fund has been wound up in March 2006
The AMC is also providing portfolio management / advisory services and such activities are not in conflict with the activities of the Mutual Fund. The AMC has renewed its registration from SEBI vide Registration No. - PM / INP000000506 dated February 12, 2013 to act as a Portfolio Manager under the SEBI (Portfolio Managers) Regulations, 1993. The Certificate of Registration is valid from January 1, 2013 to December 31, 2015.