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Declaration

The information and data contained in this Website do not constitute distribution, an offer to buy or sell or solicitation of an offer to buy or sell any Schemes/Units of HDFC Mutual Fund in any jurisdiction in which such distribution, sale or offer is not authorised. The material/information provided in this Website is for the limited purposes of information only for the investors. In particular, the information herein is not for distribution and does not constitute an offer to buy or sell or solicitation of an offer to buy or sell any Schemes/Units of HDFC Mutual Fund to any person in the United States of America ('USA')/Canada.

By entering this Website or accessing any data contained in this Website, I/We hereby confirm that I/We am/are not a U.S. person, within the definition of the term 'US Person' under the US Securities laws/resident of Canada. I/We hereby confirm that I/We am/are not giving a false confirmation and/or disguising my/our country of residence. I/We agree and acknowledge that HDFC Mutual Fund/HDFC Asset Management Company Limited (HDFC AMC) is relying upon my/our confirmation and in no event shall the directors, officers, employees, trustees, agents of HDFC AMC associate/group companies be liable for any direct, indirect, incidental or consequential damages arising out of false confirmation provided herein.

  AMC

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 “HDFC House”, 2nd Floor, H. T. Parekh Marg, 165-166, Backbay Reclamation, Churchgate, Mumbai - 400 020. The Company Identification Number(CIN) is U65991MH1999PLC123027.

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. 25.166 crore as on September 30, 2016.

The equity shareholding pattern of the AMC as on September 30, 2016 is as follows:

Morgan Stanley Mutual Fund

HDFC Asset Management Company Limited (“HDFC AMC”) and HDFC Trustee Company Limited (“HDFC Trustee”), the asset management company and trustee company of HDFC Mutual Fund (“HDFC MF”) respectively had entered into an agreement with Morgan Stanley Investment Management Private Limited (“MS AMC”) and the Board of Trustees of Morgan Stanley Mutual Fund (the “MS Trustees”), the asset management company and trustees of Morgan Stanley Mutual Fund (“MSMF”), pursuant to which the schemes of MSMF (“MSMF Schemes”) were transferred to and formed part of HDFC MF, HDFC Trustee took over the trusteeship of the MSMF Schemes from the MS Trustees and HDFC AMC took over the rights to manage the MSMF Schemes from MS AMC and became the investment manager of the MSMF Schemes (the “Transaction).

Changes to the Schemes of MSMF

1. Pursuant to the acquisition of schemes, to avoid similar products being offered to the investors, following changes were made to the Schemes of MSMF and HDFC MF (“Changes to the Schemes”):

Current Name and Type of Scheme / Transferor Scheme Type of Change Proposed new Name and Type of Scheme / Transferee Scheme
Morgan Stanley Growth Fund
(Open Ended Equity Fund)
Change in Name and Fundamental Attributes HDFC Large Cap Fund
(Open-ended equity scheme)
Morgan Stanley A.C.E Fund
(Open Ended Across Capitalizations Equity Fund)
Change in Name and Fundamental Attributes HDFC Small and Midcap Fund
(Open-ended equity scheme)
Morgan Stanley Gilt Fund
(Open Ended Gilt Fund)
Change in Name and Fundamental Attributes HHDFC Inflation Indexed Bond Fund
(Open-ended income scheme)
Morgan Stanley Liquid Fund
(Open Ended Liquid Fund)
Merger HDFC Liquid Fund
(Open-ended liquid income scheme)
Morgan Stanley Ultra Short Term Bond Fund
(Open Ended Debt Fund)
Merger HDFC Cash Management Fund –
Treasury Advantage Plan
(Open-ended income scheme)
Morgan Stanley Active Bond Fund
(Open Ended Debt Fund)
Merger HDFC High Interest Fund - Dynamic Plan
(Open-ended income scheme)
Morgan Stanley Short Term Bond Fund
(Open Ended Debt Fund)
Merger HDFC Short Term Plan*
(Open-ended income scheme)
Morgan Stanley Multi Asset Fund
(Plan A and Plan B)
(Open Ended Debt Fund)
Change in Name and Fundamental Attributes HDFC Dynamic PE Ratio Fund of Funds**
(Open-ended fund of funds scheme)
HDFC Focused Large-Cap Fund
(Open Ended Equity Scheme)
Merger HDFC Equity Fund
(Open-ended equity scheme)

* HDFC Short Term Plan underwent a change in fundamental attributes after the close of business hours on June 20, 2014.
**As part of change in fundamental attributes of Morgan Stanley Multi Asset Fund (Plan A and Plan B),

Plan A was renamed as HDFC Dynamic PE Ratio Fund of Funds and Plan B was merged into it.

2. Details about the Changes to the Schemes were provided in Notice-cum-Addendum dated May 14, 2014 issued by MSMF. The Notice-cum-addendum and the Option Exercise Letter were also published on the website of Morgan Stanley Mutual Fund www.morganstanley.com/indiamf

3. Effective Dates for the Changes to the Schemes: The Changes to the Schemes were subject to Completion which was announced by MS AMC and HDFC AMC through public notice.

We have made a list of frequently asked questions (FAQs) regarding the acquisition of MSMF Schemes.Please click here to go through the same.If you need any clarifications on the changes to HDFCMF Schemes, then please click here.

Zurich India Mutual Fund

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:

Former Name New Name
Zurich India Capital Builder Fund HDFC Capital Builder Fund
Zurich India Equity Fund HDFC Equity Fund
Zurich India High Interest Fund HDFC High Interest Fund
Zurich India Liquidity Fund HDFC Cash Management Fund

*HDFC Sovereign Gilt Fund has been wound up in March 2006

Former Name New Name
Zurich India Prudence Fund HDFC Prudence Fund
Zurich India Sovereign Gilt Fund HDFC Sovereign Gilt Fund*
Zurich India TaxSaver Fund HDFC TaxSaver
Zurich India Top 200 Fund HDFC Top 200 Fund

Disclaimer: 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.

Board Of Directors

The Board of Directors of the HDFC Asset Management Company Limited (AMC) consists of the following eminent persons.

  • MR. DEEPAK S. PAREKH

    Chairman, Housing Development Finance Corporation Ltd.

  • MR. N. KEITH SKEOCH

    Director, HDFC Standard Life Insurance Company Ltd.

  • MR. KEKI M. MISTRY

    Vice-Chairman & CEO, Housing Development Finance Corporation Ltd.

  • MR. JAMES AIRD

    Managing Director, Ignis Asset Management Limited

  • MR. P. M. THAMPI

    Director, Strides Acrolab Limited

  • MR. HUMAYUN DHANRAJGIR

    Chairman, Emcure Pharmaceuticals Limited

  • DR. DEEPAK B. PHATAK
  • MR. HOSHANG S. BILLIMORIA

    Director, Fenner Conveyor Belting Private Limited

  • MR. RAJESHWAR RAJ BAJAAJ

    Chairman, Lerch Bates Private Limited

  • MR. VIJAY MERCHANT

    Director, Virat Industries Limited

  • MS. RENU S. KARNAD

    Managing Director, Housing Development Finance Corporation Limited

  • MR. MILIND BARVE

    Managing Director, HDFC Asset Management Company Limited (AMC)

Terms and Conditions of Appointment of Independent Directors. Please click here to view

MR. DEEPAK S. PAREKH

Chairman,
Housing Development Finance Corporation Ltd.

Mr. Deepak S. Parekh is an Associate Director on the Board. Mr. Parekh joined HDFC Ltd. in a senior management position in 1978. He was inducted as a Whole-time director of HDFC Ltd. in 1985, appointed as the Managing Director of HDFC Ltd. (designated as ‘Chairman’) in 1993. He retired as the Managing Director (designated as ‘Chairman’), with effect from the close of business hours on December 31, 2009. Mr. Parekh was appointed as a Director of HDFC Ltd. liable to retire by rotation by the shareholders of HDFC Ltd. at the 33rd Annual General Meeting held on Wednesday, July 14, 2010.

His other Directorships as on September 30, 2016 are as follows:

Housing Development Finance Corporation Limited Chairman
GlaxoSmithKline Pharmaceuticals Limited Chairman
HDFC ERGO General Insurance Company Limited Chairman
HDFC Standard Life Insurance Company Limited Chairman
Siemens Limited Chairman
The Indian Hotels Company Limited Director
Mahindra & Mahindra Limited Director
DP World Limited – Dubai Director
HT Parekh Foundation Director
Indian Institute for Human Settlements Director
Vedanta Resources Plc., London Director
Network 18 Media & Investments Limited Director
BAE Systems India (Services) Private Limited Director
Breach Candy Hospital Trust Director
Fairfax India Holdings Corporation (Canada) Director
Economic Zones World FZE (a wholly owned subsidiary of DP World, Dubai - International Company) Director

Mr. Parekh is a Fellow of the Institute of Chartered Accountants (England & Wales).

MR. P. M. THAMPI

Director,
Strides Acrolab Limited

Mr. Thampi is an independent Director on the Board. Mr. Thampi was the Chairman and Managing Director of BASF India Limited from January 1986 to March 2000. Prior to this, he was with ICI India Limited from 1957 to 1985. His last position held at ICI India Limited was as Chief Executive, Fertilizer Division.

His other Directorships as on September 30, 2016 are as follows:

Pioneer Balloon India Private Limited Director
Strides Acrolab Limited Director
Stelis Biopharma Private Limited Director

Mr. Thampi is a Graduate in Science, Post Graduate Diploma in Chem. Engineering, F.I. Chem. E. (UK) and C. Eng. (UK).

MR. N. KEITH SKEOCH

Director,
HDFC Standard Life Insurance Company LTD.

Mr. N. Keith Skeoch is an associate director on the Board. He is the Chief Executive Officer of Standard Life plc and has the responsibility for overseeing £307.4bn of assets under administration. He has been Chief Executive Officer of Standard Life Investments since 2004. He first joined Standard Life Investments in 1999, after nearly 20 years’ investment experience with James Capel & Company Limited, where he held various positions including Chief Economist and Managing Director International Equities. He is a member of the Codes and Standards Committee.

His other Directorships as on September 30, 2016 are as follows:

HDFC Standard Life Insurance Company Limited Director
Standard Life Investments Limited Director
Standard Life Assurance Limited Director
Standard Life Charitable Trust Director
Standard Life Employee Services Limited Director
Standard Life plc Director
Standard Life Investments (Holdings) Limited Director
The Financial Reporting Council Director

Mr. Skeoch is a Fellow of the Chartered Institute for Securities and Investment and Fellow of the Society of Business Economists. He has been awarded honorary doctorates from the University of Sussex and Teesside University. He is also a Fellow of the Royal Society for the Encouragement of the Arts, Manufacture and Commerce, BA, MA.

MR. KEKI M. MISTRY

Vice-Chairman & CEO,
Housing Development Finance Corporation Ltd.

Mr. Keki M. Mistry is an associate director on the Board. Mr. Keki M. Mistry is the Vice Chairman and Chief Executive Officer of HDFC Ltd. Mr. Mistry joined HDFC Ltd. in 1981. He was appointed as the Executive Director of HDFC Ltd. in 1993, as the Deputy Managing Director in 1999 and as the Managing Director in 2000. He was re-designated as the Vice Chairman and Managing Director of HDFC Ltd. in October 2007 and as the Vice Chairman & Chief Executive Officer with effect from January 1, 2010.

His other Directorships as on September 30, 2016 are as follows:

Housing Development Finance Corporation Limited Vice-Chairman & CEO
GRUH Finance Limited Director
Greatship (India) Limited Director
GRIHA Investments, Mauritius Director
HDFC ERGO General Insurance Company Limited Director
HDFC Standard Life Insurance Company Limited Director
Sun Pharmaceutical Industries Limited Director
Torrent Power Limited Director
HDFC Bank Ltd Director
HT Parekh Foundation Director
HCL Technologies Limited Director
Griha Pte Ltd, Singapore Director
CDC Group, London Director

He is a Fellow of the Institute of Chartered Accountants of India.

MR. JAMES AIRD

Managing Director,
Ignis Asset Management Limited

Mr. James Aird is an associate director on the Board. Mr. James Aird is associated with Standard Life Investments Limited as Head of Strategic Development and is responsible for corporate development and M&A. On July 1, 2014 he was appointed Managing Director of Ignis Asset Management Limited.

Mr. Aird joined Standard Life in 1997 as an Investment Manager for the Corporate Pooled and Segregated Fund businesses. He was appointed Investment Director, Head of Segregated Funds in April 1998 and took up the current position in November 1999. Previously Mr. Aird worked for Scottish Equitable, joining as an Investment Analyst in 1981 before moving on to Fund Manager in 1984. Mr. Aird also managed both UK and international equity portfolios, before taking on the responsibility for developing new investment business in the US institutional market.

His other Directorships as on September 30, 2016 are as follows:

Standard Life- India Advantage Fund Director
Standard Life (Mauritius Holdings) 2006 Limited Director
Select Property Holdings (Mauritius) Limited Director
Standard Life (China Holdings) Limited Director
Ignis Investment Management Limited Director
Ignis Nominees Limited Director
Ignis Asset Management Limited Director
Ignis Investment Services Limited Director
Ignis Fund Managers Limited Director
Scottish Mutual Investment Managers Limited Director
Scottish Mutual PEP & ISA Managers Limited Director
Mastscreen Limited Director
HDFC Standard Life Insurance Company Limited Alternate Director

Mr. Aird graduated in Economics from Edinburgh University in 1981.

MR. HUMAYUN DHANRAJGIR

Chairman,
Emcure Pharmaceuticals Limited

Mr. Humayun Dhanrajgir is an independent Director on the Board.

Mr. Dhanrajgir has held various senior management positions in Glaxo India from 1969 to 1994 and became M.D. in 1990 and retired as Executive Vice-Chairman. He was also the President of the Organisation of Pharmaceuticals Producers of India (OPPI) for 2 years from 1992. He also served as a member of the Bombay Chamber of Commerce and Industry and was the Chairman of the Indo- British Business Committee during that period.

Subsequent to that he was the MD of Lupin Laboratories for a year helping it to globalize. In October 1995 he was appointed MD of Kodak India Ltd for a 5 year term and retired in October 2000.

He was also with Burmah Shell India from 1964 to 1969 having served in senior positions. He began his career as Process Design Engineer with British Oxygen Company London in 1960 until 1963 when he returned to India. He is a Trustee of Breach Candy Hospital Trust where he was recently Chairman for a year.

His other Directorships as on September 30, 2016 are as follows:

Emcure Pharmaceuticals Limited Chairman
H. Dhanrajgir Estates Private Limited Chairman
Next Gen Publishing Limited Chairman
Breach Candy Hospital Trust Trustee
Cadila Healthcare Limited Director
Neuland Laboratories LimitedDirector
Sami Labs Limited Director
Themis Medicare Limited Director
Zydus Wellness Ltd. Director
Lintas Employees Welfare Trusts Trustee

Mr. Dhanrajgir is a B.Tech in Chemical Engineering, Loughborough University, U.K. and M.I.Chem.E (London), C.Eng.(London), A.M.P. (Harvard).

DR. DEEPAK B. PHATAK

Dr. Deepak B. Phatak is an independent Director on the Board. Dr. Phatak is associated with Indian Institute of Technology (IIT) Bombay from December 1971 till date. He is presently the Professor of Dept. of Computer Science & Engg., IIT Bombay.

His other Directorships as on September 30, 2016 are as follows:

Maharashtra Knowledge Corporation Limited Director
Treelabs Foundation Director
Skoch Development Foundation Director

Dr. Phatak is a B.E, M.Tech and has done his Ph.D.

MR. HOSHANG S. BILLIMORIA

Director,
Fenner Conveyor Belting Private Limited

Mr. Hoshang S. Billimoria is an independent Director on the Board. Mr. Billimoria is presently the Chief Executive Officer of Next Gen Publishing Private Limited. Prior to this, Mr. Billimoria was associated with Tata Infomedia Limited since 1990 to 2004. At the time of his resignation, he was its Vice Chairman and Managing Director. He was the Deputy CEO with Tata Sons Limited from 1988 -1990. He was a Partner with S.B. Billimoria and Co. from 1979 -1988.

His other Directorships as on September 30, 2016 are as follows:

Fenner Conveyor Belting Private Limited Director

Mr. Billimoria is a Graduate in Commerce, Fellow of the Institute of Chartered Accountants (England & Wales) and Fellow of the Institute of Chartered Accountants of India.

MR. RAJESHWAR RAJ BAJAAJ

Chirman,
Lerch Bates Private Limited

Mr. Rajeshwar Raj Bajaaj is an independent director on the Board. He is the Chairman of Lerch Bates Private Limited, a Specialised Consulting Company for Vertical Transportation. Mr. Bajaaj was the Chairman of the Board of Directors and Managing Director of Otis Elevators India. He also held the position of Vice President, South and Southeast Asia based in Singapore wherein the Otis country heads from India, Singapore, Thailand, Malaysia, Indonesia, Philippines and Vietnam reported to him. He has nearly four decades of experience in the elevator industry. Thereafter, for a period of three years, he joined Special Olympics Inc. as Managing Director, Asia Pacific, a non-profit organization created by the Joseph P Kennedy Jr. Foundation, Washington for the benefit of people with Intellectual Disabilities.

His other Directorships as on September 30, 2016 are as follows:

Lerch Bates Private Limited Chairman
GlaxoSmithKline Pharmaceuticals Limited Director
Bharat Bijlee Limited Director

Mr. Bajaaj is a Graduate in Science and Law.

MR. VIJAY MERCHANT

Director,
Virat Industries Limited

Mr. Vijay Merchant is an independent Director on the Board. Mr. Merchant is a partner of Dynam Plastics since 1987. Prior to this, Mr. Merchant worked with Mafatlal Services Ltd. in the Central Finance Department and interacted with the finance division of all group companies. He headed a large Consumer Product Agency House and Marketing & Distribution Co. in South India for 10 years. He has been elected as President of Indian Plastics Institute for 2012-13 He was the Former President of The All India Plastic Manufacturing Association Founder members of Indian Centre for Plastics in Environment (non-profit body) He has also served on national bodies of Indian Institute of Packaging (Ministry of Commerce), Indian Merchants Chamber, Enviroplast Plastindia Foundation, PLEXCONCIL, Indian Plastics Institute, etc. and was the Honorary Editor of Industry Journal Plastics News.

His other Directorships as on September 30, 2016 are as follows:

Suraiya Brothers Private Limited Director
Virat Industries Director

Mr. Merchant is a graduate in Commerce and has also done Post Graduate Programme from IIM Ahmedabad.

MS. RENU S. KARNAD

Managing Director,
Housing Development Finance Corporation Limited

Ms. Renu S. Karnad is an associate director on the Board. Ms. Karnad joined HDFC Ltd. in 1978 and was appointed as the Executive Director of HDFC Ltd. in 2000 and was re-designated as the Joint Managing Director of HDFC Ltd. in October 2007. She was appointed as the Managing Director of HDFC Ltd. with effect from January 1, 2010.

Her other Directorships as on September 30, 2016 are as follows:

Housing Development Finance Corporation LimitedManaging Director
Bosch Limited Director
GRUH Finance LimitedDirector
HDFC Bank Limited Director
HDFC Standard Life Insurance Company Limited Director
HDFC ERGO General Insurance Company Limited Director
H T Parekh Foundation Director
Indraprastha Medical Corporation Limited Director
Feedback Infrastructure Services Private Limited Director
HDFC PLC – Maldives Director
EIH Ltd Director
WNS (HOLDINGS) LIMITED Director
Hiref International LLC Director
Hiref International Fund II Pte Limited Director
HIF International Fund Pte Limited Director
ABB Limited Director

She holds a Master’s degree in Economics from the University of Delhi and is a graduate in law from the University of Mumbai. She is a Parvin Fellow – Woodrow Wilson School of International Affairs, Princeton University, U.S.A.

MR. MILIND BARVE

Managing Director,
HDFC Asset Management Company Limited (AMC)

Mr. Milind Barve is the Managing Director of HDFC AMC since July 2000. Mr. Barve had been associated with HDFC Ltd. in his capacity as General Manager – Treasury where he headed the treasury operations at HDFC Ltd. for 14 years.

Mr. Barve was responsible for the management of HDFC Ltd.’s Treasury portfolio and for raising funds from Financial Institutions and Capital Markets. He was also head of marketing for retail deposit products and responsible for investment advisory relationships for Commonwealth Equity Fund Mutual Fund and Invesco India Growth Fund.

His other Directorships as on September 30, 2016 are as follows:

Association of Mutual Funds in India (AMFI) Director
Gautam Thakkar Memorial Badminton Association Director

Mr. Barve is a Graduate in Commerce and an Associate Member of the Institute of Chartered Accountants of India.

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