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Products Home / Products / Liquid Funds / HDFC Liquid Fund
 
HDFC Liquid Fund Print

This product is suitable for investors who are seeking*:
  • income over short term
  • investment in debt and money market instruments.
  • low risk. (BLUE)

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

Note: Risk is represented as:

(BLUE) investors understand that their principal will be at low risk (YELLOW)) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk

Investment Objective
The primary objective of the Scheme is to enhance income consistent with a high level of liquidity, through a judicious portfolio mix comprising of money market and debt instruments.

Basic Scheme Information
Nature of Scheme Open Ended High Liquidity Income Scheme
Inception Date October 17, 2000
Option/Plan

Existing Plan : Dividend Plan,Growth Plan. The Dividend Plan offers Daily Dividend option (reinvestment facility only); Weekly and Monthly Dividend option (with payout and Reinvestment facility).

Direct Plan (w.e.f. 01 Jan 2013) : Dividend Plan,Growth Plan. The Dividend Plan offers Daily Dividend option (reinvestment facility only); Weekly and Monthly Dividend option (with payout and Reinvestment facility).

Entry Load
(For Lumpsum Purchases and investments through SIP/STP)
NIL
Unfront commission shall be paid directly by the investor to the ARN Holder (AMFI registered Distributor) based on the investors' assessment of various factors including the service rendered by the ARN Holder.

Please click here to go through the addendum.
Exit Load
(as a % of the Applicable NAV)

Nil
Minimum Application Amount

Growth/Dividend Option
For New investors :Rs.10000 and any amount thereafter.
For Existing investors : Rs. 5000 and any amount thereafter.
Lock-In-Period Nil
Net Asset Value Periodicity All year round.
Redemption Proceeds Normally despatched within 1 Business day
Tax Benefits
(As per present Laws)
Please click for details
Current Expense Ratio (#)
(Effective Date: 14th November 2014)
0.06%

 

Excluding Service Tax on Investment Management Fees, if any. 

Direct Plan shall have a lower expense ratio by 0.05%.

(#) Any change in the expense ratio will be updated within two working days.



Plan Name NAV Date NAV Amount
Daily Div Reinvest26 Nov 201410.1982
Direct Plan - Daily Dividend Option26 Nov 201410.1982
Direct Plan - Growth Option26 Nov 201426.8202
Direct Plan - Monthly Dividend Option26 Nov 201410.2678
Direct Plan - Weekly Dividend Option26 Nov 201410.3151
Growth Plan26 Nov 201426.7894
Monthly Dividend Option26 Nov 201410.2677
Weekly Dividend Option26 Nov 201410.3152
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Investment Pattern

The AMC retains the flexibility to invest across all the securities / instruments in debt and money market. The flexibility is being retained to adjust the portfolio in response to a change in the risk - return equation for asset classes under investment, with view to maintain risks within manageable limits.

Pending deployment of funds of the Scheme in securities in terms of the investment objective of the Scheme, the AMC may invest the funds of the Scheme in short term deposits of scheduled commercial banks.

The asset allocation under the Scheme will be as follows:

Sr. No. Type of Instruments Normal Allocation
(% of Net Assets)
Normal Deviation
(% of Normal Allocation)
Risk Profile of
the Instrument
1 Money Market Instruments (including cash/ call money) 50-90 50 Low
2 Debt Instruments(including securitised debt)

10-50 50 Low to Medium
Pursuant to Circular SEBI/IMD/CIR No. 13/ 150975/ 09 dated January 19, 2009 issued by SEBI, the characteristics of portfolio of the Liquid Schemes are as follows:
(A) Effective February 1, 2009 till April 30, 2009:
(i) The Liquid Schemes shall make investment in/ purchase debt and money market securities with maturity of upto 182 days only.
(ii) In case of securities with put and call options (daily or otherwise) the residual maturity shall not be greater than 182 days.
(B) Effective May 1, 2009:
(i) The Liquid Schemes shall make investment in/ purchase debt and money market securities with maturity of upto 91 days only.
(ii) In case of securities with put and call options (daily or otherwise) the residual maturity shall not be greater than 91 days.

The explanatory notes relating to the provisions laid under (A) and (B) above are as follows:
a) In case of securities where the principal is to be repaid in a single payout, the maturity of the securities shall mean residual maturity. In case the principal is to be repaid in more than one payout then the maturity of the securities shall be calculated on the basis of weighted average maturity of security.
b) In case the maturity of the security falls on a non-business day then settlement of securities will take place on the next business day.
c) Further, inter-scheme transfers of securities having maturity of upto 365 days and held in other schemes as on February 01, 2009 shall be permitted in the Liquid Schemes till October 31, 2009. With effect from November 1, 2009 such inter-scheme transfers of securities held in other schemes having maturity of upto 91 days only shall be permitted in the Liquid Schemes.

In view of the above revised provisions, the characteristics of the Portfolio of Liquid Schemes introduced vide Addendum dated October 12, 2006 stands withdrawn effective February 1, 2009.

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Investment Strategy

The Scheme will retain the flexibility to invest in the entire range of money market and debt instruments. These instruments are more specifically highlighted below :

Debt securities (in the form of non-convertible debentures, bonds, secured premium notes, zero interest bonds, deep discount bonds, floating rate bond / notes, securitised debt, pass through certificates, asset backed securities, mortgage backed securities and any other domestic fixed income securities including structured obligations etc.) include, but are not limited to :

1. Debt obligations of the Government of India, State and local Governments, Government Agencies and statutory bodies (which may or may not carry a state / central
government guarantee),

2. Securities that have been guaranteed by Government of India and State Governments,

3. Securities issued by Corporate Entities (Public / Private sector undertakings),

4. Securities issued by Public / Private sector banks and development financial institutions.

Money Market Instruments include

1. Commercial papers
2. Commercial bills
3. Treasury bills
4. Government securities having an unexpired maturity upto one year
5. Collateralised Borrowing & Lending Obligations (CBLO)
6. Certificate of deposit
7. Usance bills
8. Permitted securities under a repo / reverse repo agreement
9. Any other like instruments as may be permitted by RBI / SEBI from time to time

Investments will be made through secondary market purchases, initial public offers, other public offers, placements and right offers (including renunciation). The securities could be listed, unlisted, privately placed, secured / unsecured, rated / unrated of any maturity.

With respect to counterparty risk exposure arising out of OTC derivative and repo transactions, HDFC AMC does an ongoing credit assessment for setting appropriate counterparty limit and type of exposure the scheme can assume on all counterparties of the scheme.  Internal control mechanisms ensure adherence to these limits and type of exposures.

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Fund Manager
Mr. Shobhit Mehrotra (since Feb 16, 04)
Mr. Rakesh Vyas - Dedicated Fund Manager - Foreign Securities
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Portfolios - Holdings
Please click here to view complete Scheme Portfolios
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