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HDFC Index Fund - Sensex Plan
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Investment Objective
The objective of this Plan is to generate returns that are commensurate with the performance of the SENSEX, subject to tracking errors.
Basic Scheme Information
| Nature of Scheme |
Open Ended Index Linked Scheme |
| Inception Date |
July 17, 2002 |
| Option/Plan |
Growth Plan. |
Entry Load
(purchase / additional purchase / switch-in)
(click here for SIP Details)
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NIL
(With effect from August 1, 2009)
Please click here to go through the addendum. |
Exit Load
(as a % of the Applicable NAV)
(click here for SIP Details)
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NIL |
Minimum Application Amount
(click here for SIP Details)
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For new investors :Rs.5000 and any amount thereafter.
For existing investors : Rs. 1000 and any amount thereafter.
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| Lock-In-Period |
Nil |
| Net Asset Value Periodicity |
Every Business Day. |
| Redemption Proceeds |
Normally despatched within 3 business days |
Tax Benefits
(As per present Laws) |
Please click for details |
Current Expense Ratio (#)
(Effective Date 22nd May 2009) |
1.00% |
| (#) Any change in the expense ratio will be updated within two working days. |
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Plan Name |
NAV Date |
NAV Amount |
| Sensex Plan (Growth) | 29 Jul 2010 | 150.0502 |
Investment Pattern
| Instruments |
Normal Allocation |
Risk Profile of
the Instrument |
| Securities covered by the SENSEX |
95 to 100 |
Medium to High |
| Cash & Money Market instruments, including money at call but excluding Subscription and Redemption Cash Flow |
0 to 5 |
Low to Medium |
| Subscription Cash Flow is the subscription money in transit before deployment and Redemption Cash Flow is the money kept aside for meeting redemptions. |
Investment Strategy
The SENSEX Plan and the Nifty Plan will be managed passively with investments in stocks in a proportion that is as close as possible to the weightages of these stocks in the respective indices. The investment strategy would revolve around reducing the tracking error to the least possible through regular rebalancing of the portfolio, taking into account the change in weights of stocks in the indices as well as the incremental collections / redemptions from these Plans.
The SENSEX Plus Plan will be passively managed to the extent of 80-90% of the net assets of the Plan and would follow similar investment strategy as for the SENSEX and the Nifty Plan, for this component. The actively managed portion of 10-20% of net assets of the Plan would be invested in stocks that have been identified as having high probability to outperform the SENSEX. The Investment Manager would follow the process of in-depth research to identify such candidates from stocks other than those comprising the SENSEX, for potential investment.
Pursuant to the SEBI Regulations, the respective Plans shall not make any investment in:
- any unlisted security of an associate or group company of the Sponsor; or
- any security issued by way of private placement by an associate or group company of the Sponsor; or
- the listed securities of group companies of the Sponsor which is in excess of 25% of the net assets.
Risk Control
For the SENSEX Plan, the Nifty Plan and the proportion of the SENSEX Plus Plan that would be managed similar to the SENSEX Plan, risks would be the impact cost on securities, the delayed communication of weightage changes by the index service providers and the delayed calculation of net change in assets of each of the Plans, amongst others.
It is proposed to manage the risks by placing limit orders for basket trades and other trades, proactive follow-up with the service providers for daily change in weights in the respective indices as well as monitor daily inflows and outflows to and from the Fund closely.
While these measures are expected to mitigate the above risks to a large extent, there can be no assurance that these risks would be completely eliminated.
Risk control for the actively managed portion of the SENSEX Plus Plan would entail setting limits for single stock and single industry exposures by the Investment committee for this portion, subject to SEBI Regulations.
Fund Manager
Mr. Vinay Kulkarni (since Nov 21, 06)
| Portfolio - Holdings (as on June 30, 2010) | | Company | Industry+ | % to NAV | | EQUITY & EQUITY RELATED | | | | Reliance Industries Ltd. | Petroleum Products | 14.12 | | Infosys Technologies Ltd. | Software | 9.84 | | Larsen & Toubro Ltd. | Construction Project | 7.08 | | ICICI Bank Ltd. | Banks | 7.06 | | ITC Ltd. | Consumer Non Durables | 5.83 | | Housing Development Finance Corporation Ltd. $ | Finance | 5.47 | | HDFC Bank Ltd. | Banks | 5.16 | | State Bank of India | Banks | 4.72 | | Oil & Natural Gas Corporation Ltd. | Oil | 4.01 | | Tata Consultancy Services Ltd. | Software | 3.22 | | Total of Top Ten Equity Holdings | | 66.51 | | Total Equity & Equity Related Holdings | | 99.73 | | Total Money Market Instrument & Other Credit Exposures (aggregated holdings in a single issuer) | | 0.00 | | Cash, Cash Equivalents and Net Current Assets | | 0.27 | | Grand Total | | 100.00 | | Net Assets (Rs. In Lakhs) | | 4935.82 |
Note : $ Sponsor
Returns
| HDFC Index Fund - Sensex Plan | (NAV as at evaluation date 30-June-2010, Rs. 147.505 Per unit) | | Date | Period | NAV Per Unit (Rs.) | Returns (%) ^ | Benchmark Returns (%) #
| | March 30, 2007 | Last 1188 days | 120.3293 | 6.46** | 11.35**
| | December 30, 2009 | Last Six months (182 days) | 144.8088 | 1.86* | 2.73*
| | June 30, 2009 | Last 1 Year (365 days) | 121.3593 | 21.54* | 23.66*
| | June 29, 2007 | Last 3 Years (1097 days) | 134.551 | 3.11** | 7.97**
| | June 30, 2005 | Last 5 Years (1826 days) | 68.001 | 16.74** | 22.05**
| | June 30, 2000 | Last 10 Years (3652 days) | N.A | N.A. | N.A.
| | July 17, 2002 | Since Inception (2905 days) | 32.161 | 21.09** | 26.66**
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* Absolute Returns ** Compounded Annualised Returns
# SENSEX (Total Returns Index)
^ Past performance may or may not be sustained in the future
SIP Returns
| SIP Investments | Since Inception | 10 Year | 5 Year | 3 Year | 1 Year | | Total Amount Invested (Rs.) | 96,000 | N.A. | 60,000 | 36,000 | 12,000
| | Market Value as on June 30, 2010 (Rs.) | 213,369.28 | N.A. | 80,901.52 | 44,156.92 | 14,060.69
| | Returns (Annualised)*(%) | 19.41% | N.A. | 11.90% | 13.73% | 33.36%
| | Benchmark Returns (Annualised)(%)# | 24.13% | N.A. | 16.74% | 17.55% | 35.86%
| | Market Value of SIP in Benchmark# | 259,548.94 | N.A. | 91,144.97 | 46,632.34 | 14,208.98
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Past Performance may or may not be sustained in the future Inception Date of HDFC Index Fund - Sensex Plan is July 17, 2002
* Load is not taken into consideration and the returns are of Growth Plan/Option. In case the SIP date falls on a non business day, the SIP is processed on the next business day
# Benchmark - SENSEX (Total Returns Index)
Disclaimer: The above investment simulation is for illustrative purposes only and should not be construed as a promise on minimum returns and safeguard of capital. The AMC / Mutual Fund is not guaranteeing or promising or forecasting any returns. SIP does not assure a profit or guarantee protection against a loss in a declining market. Please refer SIP Enrolment Form or contact nearest ISC for SIP Load Structure.
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