Under the provisions of the Indian Trusts Act, 1882, HDFC Mutual Fund has been constituted. It is one of the largest and well-established funds in India, engaged in delivering consistent fund performance across categories. The company still strive to get in better position. HDFC has quite clear investment policies in equity and debt schemes.
Equity scheme- The company has medium to long-term investors. It’s fundamental research team work for equity investment analysis.
Debt scheme- For fixed income investment HDFC’s investment philosophy is based on the objective of delivering optimal risk. HDFC mutual fund generally focuses on safety, liquidity, and returns.
HDFC Asset Management Company Ltd was incorporated in the year 1999. The company received its SEBI’s approval one year later 2000. Industrial Credit and Investment Corporation of India promotes HDFC.
They have various options in products as listed below:
- Equity/Growth Fund
- Debt/Income Fund
- Liquid Funds
- Children’s Gift Fund
- Retirement Savings Fund
- Fixed Maturity Plan
- Exchange Traded Funds
- Rajiv Gandhi Equity Savings Scheme
- Dual Advantage Fund
- Capital Protection Oriented Schemes
- Fund of Fund Schemes
- Annual Interval Fund
- Cancer Cure Fund
HDFC is Mumbai based firm, a provider of financial facilities, advice. It also has its footprint in banking, life and general insurance, asset management, venture capital and education loans. HDFC established the mutual fund company with a joint venture of Standard Life investment and holds near about 57.4% shares. The company manages more than 44 schemes consists of debt, equity, exchange-traded fund and other fund schemes. As per the end of 2003, average asset under management was INR 1.07 trillion. HDFC mutual fund is ranked first in the Indian industry, based on the Average Assets under management.
HDFC also provides value-added services, these are as follows:
SIP (Systematic Investment Plan)
STP (Systematic Transfer Plan)
SWAP (Systematic Withdrawal Advantage Plan)
So, these are some brief history of HDFC mutual fund in India.